Feuer Frei!

UPDATE 11:07am EST: Yeah, baby, yeah!!!

Crank it up rats.

UPDATE 11:45am EST: Well, that wasn’t too bad for starters. I do like that long candle down but it’s merely a humble beginning. Let’s see what happens throughout the rest of the day. I’m going to step out for 30 to grab breakfast. Keep a lid on things while I’m gone, rats.

UPDATE 12:25pm EST: I’m back – ES now futzing around at its 837 S3 pivot. We’re short term oversold, so I’m bracing for a possible bounce up. However, we should not even get close to today’s highs, otherwise that wave count is getting really ugly. Yen is overbought at this point (short term), so this might give equities an opportunity for a boost.

I’ve got a new channel for you rats – watch this for a breach of the right boundary.

My trusted stochastics are finally pointing in the right direction. For you noobs – a swing below the 75/80 line is traditionally a sell signal. FYI – this was actually George Lane’s favorite way to read it – some other perspectives on the subject matter exist as you can imagine, but you cannot argue with the guy who invented it in the first place. Anyway, this should answer your question of whether or not I’m taking profits here – hell no – this is usually where I start going short.