I am seeing 5 time-frames clearly right now, which is rare, and surely sounds silly.
VLT (was validated today) is down - 75% (or top)
LT is down - top (or 50%)
IT is transitioning from up to down (top), even though the local top is in from Sunday night
ST is down (top)
VST is down (top)
Say tonight, we make a high about 1258 ES to tomorrow's low of 1235-1240 ES. Tomorrow night we should then see a high of about 1247. From there, the path should be quickly, perhaps by the end of the week to sub-1200 (1160-1190). In other words, I do not expect to see 1270's before 1190's.
VLT is a new one for me, but because VLT is showing 75%, I believe we will bottom above 1160 and run again once more into the end of the year - but there is a limit on time. I mean, sitting here, looking at limited but current information. My charts have too much information on them right now and I'm not sure as yet how to make it cleaner. VLT will be zero in May 2012, so prior to then, there will likely be an awesome rally from some congestion under there, but from some much lower level. Policy makers and central bankers have until the end of the year to beat this, else it will rule.
Current ES: 1251.75 and I am flat looking to short 1257 or better.
