1. The current upmove wave will take a different path if we stay above 1180 SPX today and the odds are rather above 50% we will. We will very likely test the 1200 level today again before some selling comes back in – so far this is a perfectly created scenario for options expiration with heavy put exposure to clean them up. Even a retest of 1225 can not be ruled out before a bigger selling wave comes back in ( less likely) for now.
In time price correlation SPX around 1200 tomorrow is most likely and the drop rather starts next week but it may not be a wave 5 kind of drop to new lows as the sentiment is far to bearish for now. On the other hand we also will not see any new bull campaign since the price patterns remain in a bearish trend. with markets stable for now the 21st FED meeting may not bring any new QE full size measure anyway since the system is already broken with a flattening yield curve they rather do more harm than any good anyway. Economically those QE have not provided anything anyway just bought time and created buubles besides the undeserved profits for Wallstreet.
Monday is anyway distress time as Venus will be square Pluto and in the T-Square with Uranus starting tomorrow. Saturn is slowly closing in on the opposition to the US Chiron which is major financial distress which will be exact by mid October. The EURO who has his own chart has a natal Venus Saturn square which will be put into major jeopardy by late November thats when we can expect Greece to default and despite the bullshit claims by Merkelosy Greece will ot remain within the Euro since it would be ultimately stupid to do so. The Greece bailout is a bank bailout and with a own currency and printing press the have a chance to dig them selves out since a Drachma devaluated will bring back tourists and they can cut off at least 75 % of their debt and if they have a less corrupt government ( just kidding – since its globalization standard these days)) they could even collect some taxes from the people who stole all the EU subsidies , should be at least 100 billion.
Rogue trader who traded unauthorized – again this bullshit story. To make a 2 bil loss you need to finance a humangous position first and that puts you on the hitlist on any radar screen within controlling. UBS knew it as it was the case with Kerviel the SOCGEN trader.