OK, The Big Week is Here

The Market Makers and Prime Brokers have positioned the index at exactly the 50% retrace level between the ATH's and the recent low.  Plus they gave us a head and shoulder or a ascending triangle pattern to decipher.  We are also cycling up on momentum, as volatility is slowly leaking back out.

For me, I am playing it with selling volatility, and will hedge it with ES short or TVIX if the Head and Shoulder breaks after Fed Day.  My view is that all the bad news is out, and China has signaled they will do whatever it takes to prop this market.  Japan, and Europe the same.  Even if the Fed raises rates, it is a known event.

So I suspect a pop, and then we wait for earnings season to start the gravity wave down again.  Potential upside is 2160, the downside is the lows.  Either way I suspect the move will be pretty big.

For Gold, it looks like a retest of the bottom of the descending triangle, and then off to $1050.  I will sell this rip unless it makes a higher high.

Deja vu.