Simple Scenario, Hard Stop & Gone 8-Tracks

Nothing is simple in the markets (except perhaps that greed and fear never cease). But here is a scenario that will either work, or not. Basically I need a simple scenario for today because I'll be trading from the road.

If "3" has occurred, this is what things could look like. If "3" hasn't occurred yet, then we'll see higher highs. No biggie.

But if there should be any downside follow through, I like the area from the 2012.10 gap up to about the 2020 level. I would look to add calls there.

The hard stop remains 2001.01. Below that and things could get tricky.

Asia had a rather unimpressive night. Europe is mixed to lower this morning.

Heading off for the trip down south with some friends, heading to meet more friends. This time I get to be in the back seat looking out the window at the passing countryside the way I used to when I was a wide-eyed kid.

Except the 8-track tapes are gone . . .