Sorry for the long delay here, I'm re-doing a few things on my number lines. I'll get back to you on that. The key takeaway was the monthly confirm on the 3rd day of the month. Remember what I said earlier about the timing of the signals. Very important.
This is the 30 day number line. Here is a little trivia for you guys. The ES has only twice all year been in a confirmed negative 30 day number line and both were short lived at 12 and 14 days. That's impressive.
The numbers to watch on the downside are 1775 which is the monthly A down which we bounced off of to the handle of course the first time. And a re-test of the QTR A up around 1725. On the upside, the monthly A up is around 1831. And more shorter term, the weekly levels are 1800 and 1817. We already bounced off the weekly A down.
Someone sent me this link and I find the data very interesting. This is for the FX traders on the thread. http://www.dailyfx.com/forex/techni...n_is_the_Best_Time_of_Day_to_Trade_Forex.html
So remember what I said about the market re-testing levels. Well, we are there in the Russell. At the monthly A down and at the top of the QTR A up. This is the make or break level. If the Russell cracks, the spoos will absolutely test that 1775 level and more then likely tag 1725.
To an extent, I think the poor action past few days in the dollar has signaled "risk off". The main beneficiary is the stronger Yen (safe haven) - exactly what we were seeing yesterday & today in the Yen complex As we know, the stock markets are usually the last to crack. Think of it as the tail being wagged.