11:00am EDT: FINALLY – we have confirmation:
This seems to confirm that the peak of (Y) was last Thursday. Now we wait for a little bounce. FYI – I’m long the ES since 919.25 – I think we might get a little bounce here.
1:18pm EDT: The Dollar painted a nice inverse H&S today:
Looking pretty good for our 84 medium term target.
1:24pm EDT: Alright, that ES trade didn’t work out – probably should have known over and hour ago when we weren’t pushing up after that entry signal. Anyway, what I’m however seeing now is a very distinct divergence between the ES and the NQ. I think the prop desk monkeys are trying to push the tape higher via the NQ/NDX but it’s not working. Bears have smelled blood and had enough of the games – seller is stepping in every time we touch 919.