AT ANOTHER CRITICAL JUNCTURE!

Friday morning's bottom and subsequent 125 point dow rally, mlp up 5 plus, came right off not only the flash crash bottom but notice its also at the February low. The dow around 9800 and the MLP index at 275 are huge and this morning starts in the red so it looks like we will be probing around for some footing. Holding here is huge otherwise there are support lines every couple of hundred points below. I'm also concerned that a break here today or tomorrow is part of a five wave downtrend which is alot more serious and potentially very damaging. But before we get to suicidal here, i havent given up hope yet. Besides down opens can sometimes wash out sellers and leave the buyers in charge after an hour or so. Lets hope.

MLPS will be moving with the tape of course so its a down open here. Nustar (NS) got the cramer goose on Mad Money Friday so there may be some Monday morning buyers at the window...if they can remember that long. No news this morning to speak of and no upgrades or downgrades in MLP land. This is the last week of may and next weekend is the Memorial Day holiday weekend so traders may have that in their heads this week. Precious metals and the dollar are up this morning, rates on the 10 year continue to rally, and energy is lower but not by much.