Yesterday the markers deviated significantly from structural behavior. Perhaps contract roll for futures contributed to this. We published to this deviation potential live in the "Lounge"early in the morning when the markets should have continued their down movement "This bounce should not be happening here via timing and market structure - we are covering shorts for break even. Lots of small trade shorts are occurring while much larger buys are occurring which suggests retail shorts are likely to get run over" was what was posted around 10:30 AM. This is an example of how knowing what the structure of market can be as valuable when it complies as when it does not. Significant deviation from market structure is an early sign to expect the unexpected. Combined with multi-disciplinary analysis such as the exceptional signals from the mcm-Indexes and the eTickTools, we had actionable early insight into the day's developments.
Today there are no particularly bullish outcomes probable for the day session. However, please remember that the markets are being applied strong drugs and are highly susceptible to erratic unstructured behavior. Keep in mind, weekly projections suggest a sharp upward push soon so keep an eye peeled for the start of any upward momentum...such a move could end up being pronounced.
Note, today is September 11th. Having lived through the 9/11 event directly and personally please take a moment in tribute to this terrible event.