Wednesday Levels

Weird action yesterday, but I'll take it. It seems that the market tipped its hand for the time being (up), although I would not want to see it under 1314.23 at this point.  I'm sure my tone would darken considerably should that occur if I'm not able to get out of my calls at the right time.

Very weird action overnight.  The EZ is floating some desperate measures to "create" confidence.  I wish them luck.  The main thing to realize is that the 1339.10 Fib level (38%) is still wide open regardless of what happened in the overnight futures session.