These days, it seems like all the action is happening at night (both in the markets and on Slope, where the midnight owl post garnered nearly 800 comments). When I slunked off to watch 24 last night, the /ES was down 10; it's currently down 3.5. I wouldn't mind seeing a bounce to about 1100 before taking on renewed weakness. I'm frankly relieved not to wake up to a market that's down hard. I've got lots more shorting to do, and I'd prefer to short into rallies (such as they are).
The FOREX market was a big reason behind the /ES weakness last night. A bounce higher in the EUR/USD will strengthen equities, and the minute graph suggests we could be setting up for such a bounce very soon.
The title of this post reminded me of one of the coolest songs from the mid-1980s. Enjoy it while you get ready for your trading day.
