My take is the Market is and will UP again at least until Wed, the possible pivot point will be Wed when something really screw up from Europe. So far, market just continue to UP trend.
Buy. S&P 1237.00 latest. Euro dancing around 1.3850. More to come until Christmas. As usual weak hands will bleed.
Cute. Those that are easily frightened are easily excited. ES futures dropped 7 points the last 30 minutes. Why? Rumor has it that Angela Merkel sneezed and it was misinterpretated as "no more bailouts." A quick clarification of the misunderstanding limited the fall to 7 ES points for now. The market is obviously very nervous at this point. There is a gap above at 1250,75 and two below. After filling the one above, if we do, we may just as well reverse from there. God, I`m glad I`m not in the business of doing long-term predictions.
Crude up $1.50 this morning, closing in on $90. A few more weeks of these gains and we're back at $100. See what happens then
Top tick of the ultimate high (as well as all prior swing highs as well as all intra-day highs) goes to the ax. Meaning, it's elusive.