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What a weird morning! The /ES had been marching higher since 1:31 a.m. – – the consumer confidence numbers came in much higher than expected – – the /ES lurched even higher still. And – then – el pukeo.
There are a lot of very pissed-off bulls right now, I can assure you. Because it's not supposed to happen like that. Failed breakouts are not good for the upside.
Good morning, everyone.
Well, it looks like a rough opening for the bears. The /ES is up about 6 points, and the EUR/USD is still holding up strong. I'm very short GLD right now, so I'm bracing myself for the opening bell.
I got up at 4:45 this morning to have a long conversation with 2sweeties (of RetracementLevels.com fame). I learned about the product more deeply and we chatted about some ways to improve how ProphetCharts presents these levels. Even though Skype has been around for years, it's the first time I ever used it, and it was simple and flawless.
I probably will be a little sluggish this morning considering my extra-early awakening………..so I'm going to grab some breakfast and will see you in a while!
