Quick Market Update

Interesting... at 11 a.m. we had identified a likely bottom that had taken place about 10 minutes earlier.

The TICK confirmation we were waiting on came shortly after...

By 11 a.m. TICK had confirmed, but the intraday lows and move up off them is being attributed to a Greek claim that next week's IMF payment will be made with no mention of how and a full 45 minutes later!

The sheeple of the market can't stand anything more than a 30 second soundbite to make the market seem understandable and less frightening. In any case, someone needs to lose for someone to win so that's fine.

As for the market itself, I think last night's Futures forecast was more valuable than even I might have first thought, see last night's Daily Wrap at the bottom for the full report on Futures.

It seems quite a bit of what was posted from futures analysis last night fits well with the watch list assets that I'm looking for entries in as longer term core positions rather than these short hit and run trades. There has been a good deal of movement these last 2 days which also fits with the forecast from last Friday, Igloo/Chimney.

 QQQ intraday. This doesn't appear to be an accumulated stop-run, but it sure felt like one.

 very short term timing charts are saying, "hold", be patient , but not for too much longer.

 If the small amount of damage from last Friday could do what it did Tuesday, then this additional , much larger damage is looking like our spot.

QQQ 15 min as another example.

Again if there are decent , worthy looking short term trades, we'll take what the market offers, but this is looking much more like the big opportunity we have been very patiently waiting on as most traders seems to not be sure which way is up right now, not only from comments I've been sent from other sites via email, but the AAII Investor Sentiment from last week shows the exact same, bulls and bears the most confused they have been...