tho Steve inverse head and shoulder was in play for a while a deeper pullback may be playing out...the bounce hit the 50% retrace almost on the dot 

What  Dijsselbloem did was essentially yell fire in a crowded movie theater. There have been no bank runs in Europe up till now because Cyprus was thought of as a one off. I would think there are going to be much more bank transactions this week and they will revolve around that 100K Euro #...mattresses stuffed or US banks/Swiss banks seeing more deposits 

EUROGROUP'S DIJSSELBLOEM SAYS CYPRUS BANK RESTRUCTURING PLAN SHOULD BE SEEN AS TEMPLATE FOR REST OF EURO ZONE....is this guy nuts or what?

here's a zoom in of the 15min chart from last night's news letter. Is this just a retest and then pullback? Do we do the famous trendline crawl were the price just traces the lower trendline to a new high? Or do we just go back into the wedge and make a new high. Looks like the bulls do not want to give up on that new high for the S and P just yet.

Steve could you please post a chart for the new SPX futures contract...15 min would be fine more interested in pivots

I have 1503.75 that area right below S1 as the 50% fib of the wed/thur move up and it looks like the 61.8 fib lines up very close to S2

Euro just jumped up 50 pips...someone must have said something over the pond...any news out there?

Which is roughly 1499 on cash and 9EMA on daily may be where we get a bounce

only a return to the pivot...

Any opinions out there as to where SPX goes up to with a "market friendly " FED statement. R1 at 1512 is obvious but the measured move out of the ascending triangle was 1515 which is real close to R2 at 1516 and the pullback today did simply restest the breakout of triangle at  1503 ish. Or does the market have a positive statement baked in already ...I find a sell the news response highly unlikely tho tomoarrow may be another story.

more wall of worry for the market to deal with

the bottom just dropped out of the Euro anyone know whats up that looks news induced

Steve's retest may be starting

That would be S2 and Thursdays low and divergent on the SPX 5min

3 hours now just keep pounding that R1 1465 

Networking ISP issues...charts dropping out randomly

Looks like someone is trying to give the SPX a push

I think we have about 2 1/2 hours till futures open ...should be interesting...this is not a slam dunk...lots more drama ahead.

Well if anyone shorting the market didn't get anything out of the BO press conference it is now time to hit the bar. There will not be a bill before the house by 4PM ,that should have been clear from word one out of his mouth, so the drama is over for the day. I see R1 in the rear view mirror @ 1413 and 1424ish R2 just up ahead. Happy New Year to al!!!

Steve what is the purple horizontal line on your ES chart?...Sen Corker optimism seemed to get us there..LOL