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I'm watching that level too. I think there is a very high chance that ES will trade down to that level within the next 2 days.

Well looks like technical analysis does work on this silly market afterall. :D

Yea 1370-80 is the measured move from the 1st bull flag, but this is not exactly a "normal market", so technical analysis might not work very well on it... :eek:

CL going vertical again.

The real story today is that both treasuries and stocks got hammered.

That was free money for the index arb bots.

wtf happened there?

CL is ripping higher again, looney market.

Less likely for further easing = stronger dollar, stronger dollar = EUR bombing.

Dow 13000 and SPX breakout, time to get all the mom and pop investors back into the market. :D

Yeah its a presidential election year afterall.

Yet another rejection of 1370 followed by a huge dump should mean that we have topped here.

1370 rejected (again).

Yet another opportunity for SPX to break out of 1370, I would be very wary of going long if that level gets rejected again.

Eh... no. A few hedge funds did ok but as a group they did poorly when benchmarked to SPX. Big money isnt always right.

you might want to know that most hedge fund managers underperformed the market last year...

Perhaps, but they are just big money now. :D

You mean "big money". "Smart money' would have bought stocks at SPX 1100, and not 1370.

Looks like it was rejected.

From the bottom to the top of the range in 2 hours, thats something.