The Underbrush

By -

Although the NQ and ES are higher before the open Monday, it's nothing spectacular, in spite of the big Chinese stimulus package. These markets are still hacking their way through the underbrush (or overbrush?) of price activity above their current levels, and they were already repelled somewhat by that resistance.

The Nikkei has the same danged inverted H&S pattern we're seeing everywhere else (and I note that, due to its near-demise, the NK is now at very "Dow-like" levels; remember when this sucker was over 40,000?)

I suppose the question as to whether we have One Last Cleaning Plunge is still in the air. Having one would sure make positioning a lot easier.