ES

Morning gang!

Well the overnight session took out my es position at 904 and all I can say is grrrrrrrrrrrr. ES is in down mode now. With the cash spx set to gap down on the open I believe the 888 or 720 degrees up from 666 gets busted today and sets the stage for the 850 test. Dollar is still in rally mode and I believe is the key to the direction.

On the radar

MON short 75.2
SPG short 49.85

Position updates
second piece GS stop still breakeven 144.15 we covered first piece +2
second piece SRS stop still 19 we sold first piece +2

We are in an interesting time as we are at a cyclical time for the Federal Reserve as it was born on June 13th 1913 and we are in for rough times at the FED as evident by the current scandal around the Chairman. This could be a difficult road for the FED in keeping its credibility in tact which in turn may rule the direction of the market. The summer solstice is at hand and the market wanting to test the 888 number on the wheel of time and price. It bears out that on the wheel 521 is on the same vector as the 666 low and a possible square out occuring the first week of December. This would also take us to the 1995 area of the beginning of the 5 year speculative internet bull market. Which seems to me when all the excess began. 477 is also on the same vector.