Looking at Index futures and watching the averages deteriorate as the bounce off the 1/29-2/2 base has made the initial target and a head fake area target, things don't look good here.
I don't know what the F_O_M_C minutes might say, how they may be received, as I ALWAYS warn, "BEWARE THE KNEE JERK REACTION" when it comes to anything F_E_D, it is usually wrong and usually retraced within days.
Not even Greece knows what is going to happen in Greece, but looking at Index Futures, it looks like there are more than a few big money movers that are not eager to find out that they were caught on the wrong side in addition to this being the confirmation we seek to confirm head fake moves.
If you understand that an upside head fake move/false breakout is designed to create retail demand so strong hands can dump positions in to weak hands and do it in to rising prices and solid demand so they don't push large positions against themselves, then if you recall the last posts with the rounding top or reversal process well underway, these charts will make perfect sense for where we are in the process.
Like I said, I would not sleep well being long here.
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