Bifurcation point

Take out today's lows and 1250 gap magnet s/b quickly filled. Conversely, take out today's high and the week's opening gap+ should get filled....1300 s/b formidable resistance until some of the bullish excesses are extinguished. I like the 1250 stop run scenario a lil better on rotation (long euro/commodites, short equities)......note the 7/28 reference fractal

Edited by marketneutral, 26 August 2008 - 10:44 PM.

Your July reference (edit: actually Aug 1-4) fractal is also the previous low of my 18 day cyclical action I posted on RUT. I think it gaps down and doesn't go anywhere again and the bulls really tear the bears apart this time!!! Take a look at the distribution of the cyclicality for the US stocks tonight, massive resonance at the 18 day low. If you had to go by the odds, there are too many issues following this ST cycle, maybe the low is already behind, we'll see, but I didn't like the close much though today...

Edited by arbman, 26 August 2008 - 11:17 PM.

Thanks arbman....always appreciate the insight and looking closer I can see the similarities there, at least on the bid-ask pattern;) tough market, but 10min charts continue to work well;)