ES - 1 Hour E-MINI S&P 500 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:ES1! HK_L61 Globex quickly became the Kill Zone and did not stop. The Over-Valued, Over-Leveraged, Over-Indulged Indexes are catching the Panic Trade. Although NQ has yet to break the 3rd test of the lows, IF it does, - Oh my. YM tagged the Upper Trend Line and Failed dramatically. Ranges in ALL INDEXES expand dramatically prior Ranges. Gap Fills below will be either a Direct or very choppy affair with large retracements possible. For now, 50%'s have held. .382s may be it hereafter unless these "Accidents" continue to occur during Globex. Price traded well below the Price Objective, confirming the Bearish engulfing after 2 moves to the Fill at the 50%. The VIX remains the leader with the 50 SMA / 200 SMA Cross providing Support. The VIX is highly technical and provides all the Indications needed for RTs and Extensions. The Big 7 remains in relative Strength , for now, we will see how long this lasts. __________________________________________________________ Bonds caught the Bid after the largest Off Sides Position since January. DX and Bonds, perhaps GOLD will catch a Flight to safety Bid. Crude Oil - smoked. Price Objective now 72.08 down to 67. __________________________________________________________ 4583.25 remains the Price Objective at the Lower Boundary for Today.