tail creation at its best.. a major 'look see'.. at 60's and tail above 40's.. implies compression/wedge formation in store. If you look at the chart above the tail hit the parallel upward channel line, which coincided with 1804.
Any thoughts on Deutsche Bank? Tanking stock, its exposure to derivatives is apparently x10 German GDP. New Lehman?
banking sector took a hit... it might continue to european open tonight. Almost think PPT is working behind the scenes so DB issue doesn't collapse the system. TBTF..too big to fail.. the bank will be nationalized/ECB might come in but not sure how autonomous DB is relative to ECB.
trade for tonight will be to let the asians hit stops above on /ES than around 2:30-3am prepare for selling pressure with the european exchanges opening. I think the selling pressure continues but the hedges are worried about deep pockets coming in (FED/Treasury) to catalyze short covering rallies.
the 4hr looks like spring up..thats whats worrisome.. prolly have to wait till it tests higher levels to short it, till spring pattern is complete.