Globex quickly became the Kill Zone and did not stop.
The Over-Valued, Over-Leveraged, Over-Indulged Indexes
are catching the Panic Trade.
Although NQ has yet to break the 3rd test of the lows, IF
it does, - Oh my.
YM tagged the Upper Trend Line and Failed dramatically.
Ranges in ALL INDEXES expand dramatically prior Ranges.
Gap Fills below will be either a Direct or very choppy affair
with large retracements possible. For now, 50%'s have held.
.382s may be it hereafter unless these "Accidents" continue to
occur during Globex.
Price traded well below the Price Objective, confirming the
Bearish engulfing after 2 moves to the Fill at the 50%.
The VIX remains the leader with the 50 SMA / 200 SMA Cross
providing Support. The VIX is highly technical and provides all
the Indications needed for RTs and Extensions.
The Big 7 remains in relative Strength, for now, we will see how
long this lasts.
__________________________________________________________
Bonds caught the Bid after the largest Off Sides Position since January.
DX and Bonds, perhaps GOLD will catch a Flight to safety Bid.
Crude Oil - smoked. Price Objective now 72.08 down to 67.
__________________________________________________________
4583.25 remains the Price Objective at the Lower Boundary for Today.
The Over-Valued, Over-Leveraged, Over-Indulged Indexes
are catching the Panic Trade.
Although NQ has yet to break the 3rd test of the lows, IF
it does, - Oh my.
YM tagged the Upper Trend Line and Failed dramatically.
Ranges in ALL INDEXES expand dramatically prior Ranges.
Gap Fills below will be either a Direct or very choppy affair
with large retracements possible. For now, 50%'s have held.
.382s may be it hereafter unless these "Accidents" continue to
occur during Globex.
Price traded well below the Price Objective, confirming the
Bearish engulfing after 2 moves to the Fill at the 50%.
The VIX remains the leader with the 50 SMA / 200 SMA Cross
providing Support. The VIX is highly technical and provides all
the Indications needed for RTs and Extensions.
The Big 7 remains in relative Strength, for now, we will see how
long this lasts.
__________________________________________________________
Bonds caught the Bid after the largest Off Sides Position since January.
DX and Bonds, perhaps GOLD will catch a Flight to safety Bid.
Crude Oil - smoked. Price Objective now 72.08 down to 67.
__________________________________________________________
4583.25 remains the Price Objective at the Lower Boundary for Today.