Red

4 ravens just swooped down in front of my window and I have never seen them here. I hope that wasn't a sign for me!

Looks like the pressure is building at that level.

the gap down was a double play for the bears

1. Gapped below weekly purple containment
2. Gapped below initiation debasement gap @ SPY 119.18 from 9.29.2008

Maybe I need to go out there on the dance floor and whack the market in the ankle with a baseball bat… Let's see how well he dances then! LOL

Dancing continues with Max contain on the 60
$SPX 1192 is the number for the next couple of hours

Simple setup on the $DJI daily containment, should brown fail red is next (-2.3% away)
http://www.flickr.com/photos/47091634@N04/45349…

Well, we got our gap down… only to be filled as the computer bots go to town gobbling up the bears again. Same old shit!

Thanks for always posting this Earl. I will see where the $NYMO is when we get to ES 1163. Could be that we make the move up to 11,816 from there (as he mentions) and then fall to 107.82 or so.

Carl’s morning call:

June S&P E-mini Futures: Today's range estimate is 1180 – 1193. I expect the drop that started from 1210 to end near 1163 sometime this week. Once the correction is complete a move to 1270 should start.

1182.75 – 1206 actual last Friday (23.25 points)
1181.50 low last night (1 point below the low last Friday)
1180-1193 estimate for today (13 points)

1184.50 currently, so estimate is -4.5 to +8.5 from here (bullish)

yes but what fund manager would now want to own up to investors that they are doing any business with GS?

Thanks for stopping by Steveo…

Looks like the correction is finally here upon us. Hope you make a bundle in it.

I watched that video from 1981… very interesting.