The past two weeks have been nothing more of amazing. Today was the first sort of “meh” day for me, because until then, I had been dancing with the market like Baryshnikov, yet on Thursday I felt flat-footed. We have certainly not seen the big bounce I was hoping would transpire, and frankly what I’m afraid of is that the bounce might just come on Friday, now that I’m more fully short.

Let’s forget what I’m hoping and feeling, though, and chop through some charts together. We start with the daily /ES, which has hammered out a magnificent, and very large, top. I’ve drawn a horizontal that I believe is a reasonable line of resistance, and a push up to that level (but not through it) would be just what the doctor ordered.