Look Into The Futures

Been a while since I have done one of these posts, but then again the reasons have been few and far between. Thanks to this post on ZH - Futures Testing Support As Liberty 33 Asleep At The Wheel I was alerted to the futures issue (before I actually would have looked).I'll throw this one in for good measure from ZH as well - George Soros Warns Of Biggest Market Crash To Come, As "We Are Facing A Yet Larger Bubble" Than During Credit Crisis. Maybe if you won't listen to me you can hear it from this really rich SOB (I'm sure he's baiting something for his trades, so a salt shaker comes with this link).


The 60m minis chart below shows a 6 point decline in the minis at this time (1:00 am). The yellow line is the corrective's (bull run off of 667) top trendline, The Green lines are the wedge rising off the February lows. The pink line is a support line developed in this last run up. Blue dashed is another possible support line. This 60m chart looks a little oversold, but more weakness is possible as the daily chart is a bout to fall like a rock. Sadly they are most likely setting up another gap down springboard for the market in the morning. You know this market's appetite to cover gap down opens. Could it be something worse? Based on all my charts over the past few days musing over a potential fall set up, maybe this is something real. Of course anything that would indicate a move south should be viewed with extreme caution and possible reverse psychology. GL!