What a chatty bunch you are! Well over 200 comments from yesterday night's post…………

Anyway, the numbers C and GE produced certainly aren't going to produce a 200-point opening gap or anything like that. Things seem pretty tame. FAZ is even up! As are SRS and SKF. But today is going to be wild, and it will be good to have this week behind us once the day is done.

I think 857 is a really important level to watch on the /ES today. The small inverted head and shoulders pattern spanning the 13th through the 16th is already looking pretty sloppy, having had its neckline violated last night, and a clear descent beneath 857 would finish off the job. A break below the tightening wedge below is pretty much the bear's best hope for things turning around. A break above 880 would be uber-bullish.

OK, I've earned all my subscription fees from Slope with this little discovery. This involves the Russell 2000. Look at this:

So that's cool fact number one. The percentage moves were identical.

But here's the really spiffy part. The move on the left, from November to January, took 29 trading days (inclusive). The move we've been suffering through this time is, as of today, in its 28th trading day. Which means if we eek out a new high in tomorrow's bar and go down from there, these moves will be identical in both distance and percentage.

Neato, huh?

Well, it was another insane, manic day in the market. Looking at SRS, "the widow-maker", is a sight to behold:

And remember, this isn't even a 3x fund!

I was tempted, based on the tortured pattern below, to go long the /ES, but the countertrend rally is so long in the tooth that I simply would not. On the contrary, I entered a short position of 10 /ES at 865. But the monotonous situation I've been stuck in for weeks now ("IRA kicking but, everything else lame") continues to prevail.

The big earnings announcement post-close today was GOOG, and I guess whatever they said was encouraging. The line I've drawn below suggests a sorta-kinda H&S pattern, and wouldn't you know it, the after-hours trading on GOOG is exactly at that level. I actually put more credence at the line (not shown here) at the higher 421.60 level, which marks the 50% retracement line for GOOG's entire history as a public company.

I am a "nervous long" on OIH, which broke above the long-cited 88.15 level today, only to close at 87.58. Unless OIH cracks into the 90s within the next two or three trading sessions, this is probably a false breakout. I am long in a pretty big way OIH, but as I said, I'm jittery about it.

I'll probably do a comment-cleaner late tonight, but I'll leave it at this for now.

I'm starting to hate my IRA. Why? Because it goes up practically every day.

And isn't that twisted? But it tells me that this fume-based rally still has legs. I mean, I bought the item below just yesterday and it's up over 34%!

When trash is rising, it usually indicates that the end is near, but I'm going to just keep holding on to the trash until I get stopped out. But, man, this is getting silly.