Per a member's request, here is a 60 Min. $RUT and a Weekly IWM from the GET Platform.

Small observation:  note the Gann Angle and previously when it was "pierced", we moved back up, but reversed a few candles later to move down.  We are again "piercing" the Gann Angle.  Just observing.  p.

Mid-Day from Paulenoff

Let's notice that a downside violation of 1.2330 completes a massive 4-year top pattern that could "unhinge" the EUR altogether and send it into a vertical tailspin towards 1.1640/50 on the way to parity with the USD -- a move that certainly will get the attention of the ECB and the Fed, which vowed to defend the integrity of the EC last weekend.Should the aforementioned downward spiral in the EUR emerge throughout today's session, we should prepare for intense and persistent Central Bank intervention, perhaps starting later today, Sunday night, and into Monday, as the "authorities" attempt to brake and preserve the Euro as some (lower) price. This could get very ugly, and is a battle the Central Banks can ill afford to lose, lest the efficacy of the world's institutions be completelyundermined.ETFs to watch are Currencyshares Euro Trust (NYSE: FXE) and the SPDR Gold Shares (NYSE: GLD), which has tended of late to move in sync with the dollar.

If there is anything from GET that anyone wants to see, send me a pm.  p.

That 11.5 point gap below from Monday is a biggie too.  I keep hearing it "calling".  p.

Here's a 60 Minute GET chart of the SPY this morning at 8:09.  I'm not real big on putting any H&S on a 60 minute chart but I did on this one.

Purely from a technical perspective, the 14-month chart pattern of the iShares Germany Index Fund ETF (NYSE: EWG) depicted by the enclosed graphic shows a 7-month uptrend juxtaposed against an 8 1/2-month top. In fact, we can make the case that the EWG's rounded top formation is so formidable that my work is warning me to expect a potential parabolic downside round trip that first revisits the July low at 16.75 on the way back to the Mar '09 low at 12.47. Yes, that is so difficult to believe, but that is what this picture reflects.

From an extreme near-term basis, however, I would not be surprised to see the EWG spend some time in a relief rally that grinds up towards 20.00 prior to resuming weakness towards new post-crash lows. If such a scenario unfolds, then it will be discounting forthcoming problems in Germany's commitment to the rest of the EC - to put it mildly.

Prechter is not surprised.  p.