Pretty simple again. We sit on a cliff awaiting a savior.
Minis 15m - If you missed my Let's Look at the E-minis post yesterday, please look at it for a complete step by step guide to price action and where we are today. Minis last night closed at critical support and today remain teetering on the brink of a 40 to 45 point slide to 1300 if Team Manipulation and the PPT don't come to the rescue. Blue rising wedge support has failed. 1341 is the market Mendoza line. Yellow (new) wedge or lower diagonal support is all that is left. Those three are dominating price here as you can see on the chart below.
Silver is about at the end of its rope. For the past two to three months I have been showing you this chart and the consolidation pattern around $27.50 inside the upper green resistance and lower yellow long term support. Silver folks, is just about to reach the decision point. If yellow fails a move to $18 should be expected.
EUR/USD - Nothing good happening here as price busted and backtested the $27 area and long term (green) s/r. Failure is an option. Price should be headed to at least $18 s/r area (the last of my long term call points) if not to parody or worse to the USD. Yellow channel has dominated price. I would be surprised to see this formation fail anytime soon especially to the upside. I really like that lower beigeish (or pinkish or whatever color it is) near $112.50. there is a grouping of diagonals near that level and that s/r diagonal has been working since 2005.
AAPL - a quick look and fairly easy to read chart. 38% retracementat $532 and support there is the first and most obvious target on any serious move south. Below that you have long term support and the gap in the $400 to $450 range. I would just know that this area exists. Green support and then blue support will be your first two keys, then follow the retracement levels.
I really don't have much commentary today. Hope, bailouts, salvation, recovery, QE, fraud, lies, cheating, stealing, manipulation rule the day. News is like a broken record working with the crony capitalists to inflate or hold up price at levels 50% higher than they deserve (and that is being kind).
I sit and wait for my catalyst. I think a war is coming sooner than later. They are just waiting on the right time. The war will need to be coordinated to cover up emotion or fear surrounding a market failure and will have to be large enough (not a small Afghanistan or Iraq - like the USSR or China will be involved) to allow Obummer to use it to his advantage in the election. Let me clarify, if there is and election, because he may just declare himself president for life.
GL and GB!