Triangle forming on the ES nearing breakout as the ECB statement is about to be released

hi all. I can't seem to access the audio for Steve's newsletter. I am viewing it on my iPad but when I click on the mp3 link, I get Matt's audio. anyone else with this issue?

I might have sounded a bit harsh on my last post, but there was no insult intended. Just my thoughts is all. Love both your work and Steve's work. Your interpretation of the charts certainly adds to my knowledge and most importantly to my bottom line. Whilst I do not trade the other markets, I humbly acknowledge that there are other subscribers on this site that do. I do think of BPT as a smorgasbord, and like a real smorgasbord, I eat til I am bursting unable to walk out the door without a helping hand and a last serving of ice cream. Keep up the good work and looking forward to another interesting week.

I might be alone here - but other than general market sentiment I find the world market newsletter useless as I don't trade other markets - even though I live in Australia. I was thinking Matt if you could make some comments about the break in the correlation we have had today ie s&p drops but the Euro and gold rises. Thanks

I forgot about him. I felt for the guy. So set in his opinions though. Reminded me a bit of the guys on financialsense.com. Always beating the drums for the bear case. Personally I make money short and long. As a trader, I don't think it is productive being too set in any one view. Always be prepared for what the market throws at you. Right now is definitely bearish but I feel that there may be a bottom around here. The last few days action in the ES does look promising. Bears trying to push lower but constantly getting battered by the bulls buying up around the 1340-45 level only for the bears to get the upper hand around the 1360-65 level. I have dipped my toes in the water at these levels for about 3 such trades this week both long and short and it has proved very nice. I love it when the market behaves!

I am carrying some euro futures shorts over the weekend. Right now I think that the market is waiting for another eurozone debacle. I am thinking that this may invoke some panic selling which should lead to a spike and then bounce back up. That's my tentative thoughts atm, but who knows.

I agree with your observations zwyss. I have just entered a 6E short position as this has been my favourite vehicle for shorting as of late. After a burst of enthusiasm as the European markets opened tonight, it has since sold down hard. I am still not keen to enter short on any of the US eminis as yet but will be watching to see if today's action will lead to a reversal type doji yesterday.

Also looks like a reverse h&s has formed on the 60 minute chart with a neck line around the 1.3410 level which is also around the breakout of the wedge  level - very bullish imo if it can breakout through here