True bottom will be printed today

I expect ES to test 950 before we reverse for a multi-month rally.

The current gap up due to the globally coordinated rate cuts will completely fade in my opinion and we will be down like 40-60 ES points (from yesterday's close) this afternoon. This will create a true panic and washout.

Later in the day, I expect a reversal. We will probably reverse to close the day between ES=1050-1070. If it doesnt come before the close, we will gap up and never look back. I think ES will close the week above 1130.

I will post intraday updates at critical junctures.