As Volumes begin to dry up and Seasonality begins to take hold as Euphoria morphs quietly into "Fear" the ES will begin a large retracement.
Globex has been another Low Volume affair with the Retail Chasers continuing to BTD with diminished conviction.
The chart remains in a Bull Trend, with extreme divergences.
We are preparing for a very nasty 10% correction, followed by another 9% @ minimum.
Ideally, and it is far too early to know - 3600/3800 Range should reduce the appetite for the ES as Financials continue to fall apart.
Cohesion in Banking has been extraordinary. I have been an Chemical/Chase/JPM Customer since 1991. This morning I received a notification from CHASE in which they informed me I had not used my CHASE Credit Card in over 9 months - Citing a lack of activity against a Large Revolving Line of Credit.
American Express, Member since 1991 - has dropped my credit score internally from 835 to 717. The reason - an undisclosed Line of Credit, which I do not have.
My LOCs have not been reduced, although they appear to be creating causation.