The last half hour sell-off may imply people are nerves about an anticipated pullback for the new year, and they want to get out of the market right before entering 2010. The sell-off could very well mark the end of the run-up, and the beginning of a down swing. However, Es is near some support levels and has already bounced quite a bit after hour. Watch for the 1115 level, see if the sell-off will continue from there. As both MACD and STO give sell signal, to play it Buy spy Feb put 110 into market strength if there is any strength on Monday.

On daily charts, the C wave run-up for all major indice may have been already finished.

The inter-market indicators, eventually all point to the same down direction for uncle Sam.

For ES trade, look for short entry around 1115 and long around 1108 Sunday night and Monday morning.