A.M. Update

First, thank you all, my inbox was overflowing with so much positive energy, prayers and thoughts that I will take a moment later tonight to take excerpts from each and send them to her. Everyone offered something unique and all so very positive, perhaps that alone ill be the cure for her, it sure made me feel fantastic and once again just confirms the miracle of the people who I have met through the site, it just makes me want to work that much harder to give back to all of you because everyone of you have been amazing; like I said last night, simple statistics would dictate that at least the 80/20 rule would apply, but we (my wife and I) are blessed with the best people we could imagine, just having a few  of you would be a blessing, but a 100% is a miracle.

In any case, I am keeping my nose in the charts the rest of the day.

So far on the open there was no confirmation on even the fastest intraday timeframe of 1 min in any of the major averages, most have pulled back pretty well, some have filled or just about filled the gap on the early non-confirmation.

It's going to be what comes next, what builds or falls apart and where. It's a bit too early for the pros (for the most part) to be taking up positions or changing them, but I suspect we'll see some movement today, I'm really looking to Europe, I now the Spanish market wasn't doing well and Yields on Italian and Spanish sovereigns were leaking wider.

For the last week or so there's been a disconnect between the market which feels bullish to many people even though the Dow closed the week down 0.01%, so in effect it did nothing while transports fell apart, any way a disconnect from that feeling of a stronger market and an obvious flow or flight to safe haven assets, this is something I want to keep a close eye on this week.

As I said last week I think they'll try for SPX new closing highs, we almost hit them intraday this morning, the fact the SPX is having so much trouble gaining 3, 4 or 5 points is telling in itself.

So back to the charts, if you have an emergency email please mark the subject line as URGENT and I'll get to it ASAP, otherwise I'll get to them ASAP, but I really want to pay attention to what happens on this morning after, I've seen too many of these EU rescue plans completely fail, I mean look at the EFSF, if that had worked the EU would be growing now, but it didn't attract the $1 trillion in leverage, they couldn't even fill a $3 billion auction. The EU bailouts are spectacular failures with unintended consequences that have led us from the fear of contagion to an actual negative German GDP print-CONTAGION.