Fireworks came early as the ES PA ran the range (open at the MB) and moved toward a BO-30 by the end of the day. Last evening we had a +2 run off the 1390 short. Two pushes down, a run back to test the 50CB, followed by the 3rd push down and a market reversal. From that reversal, the market moved for 7 bull pushes running toward the BO-30 level. I do not have permission to post nicks, and others will be referred to as "X" and charts associated with post are likely omitted.
[09:17] <CM> levels today 96.43-93.25-89.75
[09:20] <CM> last evening after a +2 on the 1390 shorts buyers created 2 buy spots and tested the 50CB (x) & I were discussing. point 3 was final low test reversal for buys or some waited until pa was back at pt 1 & 2 all 3 were profitable longs
[09:24] <CM> bounce at MB 2nd push on high
[09:27] <CM> also note sb became a 50cb bo bar
[10:00] <X> would it have made sense to enter with a limit order at LB?
[10:01] <CM> yes because it was also a fbo 50cb of b2 at b4-5
[10:02] <CM> and play odds that a 4th push likely
[10:02] <CM> the trend is bull from buy 3 (the lower 3) so sh is ct pb's
[10:06] <CM> note also gap to ema is bullish
[10:12] <CM> also that 1400 magical mkt value seems to be a pivot pt for 2013 mkt
[10:15] <X> limit buy b8?
[10:15] <X> or level?
[10:16] <CM> yes (bottom of 8) likely another hod challenge
[13:01] <X> so, what now?
[13:02] <CM> Obama to speak on cliff at 1:30 if you see a bo run grab it and watch your stops
[13:03] <CM> P&I likely to pb to get a lower entry if he announces a deal will spike some 10-15 points
[13:03] <CM> pros & institutions P&I
[13:05] <CM> (X) level 4 bo bo5 bo at b38
[13:06] <CM> we have time to get back there before President's announcement
[13:07] <CM> if positive 1400 holds and we hit around 1422
[13:09] <CM> likely: he announces positive move to agree and they announce a deal later in the evening may be after hours
[13:10] <CM> entry note ema has held all day likely to continue
The big picture
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