Check oil level... engine is overheating...

Yesterday, my targets were too 'shy' in this mad market and now, I'd hate to play "Cassandra" but the whole system is on the brink of collapsing completely. If ES breaks this lows around 875, we can lose up to another 20%... and eventually hit 720...


EURUSD: US$ may strengthen a little more, but a congestion is more likely in the short term. Technically EURUSD is ready to shoot up but again, the spark is not there yet.

ES: Regardless trading opportunities, we're really in deep s**t now if the market doesn't hold these lows. We'll check volumes as a bounce would make sense even if only temporary...

ER: Same trouble... I would hate to believe we're aiming at 438. Let's give a bounce at current lows a chance.

We must be very careful that in times of EXTREME volatility, support levels can be penetrated deep without breaking. A bounce would validate the supposedly strong levels given yesterday.

(screenshots available on request)