Economic Calendar - Nothing today in observance of the Quad Opex other than leading indicators at 10:00 which will be rigged by the BLS ao you should ignore them anyway. Please ALWAYS check the calendar.
POMO Schedule - POMO lite today. Only max of $2.5B. (We'll most likely have POMO from now to infinity or till the systemic failure that is destined to come.)
Shanky's Dark Side - Where I call all the intraday action and throw out tons of charts.
Pivot Points - For what they are worth in this busted market.
Tax deal done and markets are not liking it. I thought ORCL and RIMM earnings would possibly boost the futures. I thought wrong. I want to think this 4th wave has more to go. Based on time I think it needs to be stretched some to get the top of 5 out a little further. This does not necessarily mean down more, but it could. Still targeting 1283. You should know the topping measurements have us in the window already (it is a big window), so there is a very, very, very distant outside chance a top is set.
SPX 60m - the fall felt large, but in the scheme of things we've retraced nothing. This run IMO is weak based on the fast that price is 3 points off the top but the indicators are lagging horribly. If we gat any pop to a higher high the divergences would be dramatic.
I'm thinking it will be quiet today. Minis have defined support diagonal I showed yesterday on The Dark Side. 1250 is resistance diagonal and 41 is resistance. If the minis can get thru 1230 to the downside a significant move could happen. I'm thinking today will stink and trade in a narrow range.
GL today and have a great weekend.
