Hi Jim,

Thanks for opening this Forum to your students and giving us an opportunity to show our charts and share our ideas.

Here is a chart of todays ABCD's in the russell. I will post a context chart later. Today was one of those days where the market changes direction on Jim's unique Fib numbers, Had you been trading with standard fib numbers you may not have noticed these PTA's. Is it me or is .564 becomming more and more prevalent?

The 1.618 to 1.902 price projection area is the most common 'wave 3' move that I see. The 1.618 is by the .786, and the 1.902 is right on that .886 and big upper //. Is it time for a 'wave 4' now? Watch that .300 and .382, if it can even pull back at all.

Since we know Duane will be charting this after the close, there are three grouping areas I am watching here. .685, .786, and .886, with 1.460, 1.618, and 1.902 price projections, and 1.618 and 2.058 ext retracements. The price projections and ext ret come from that 4-Point that didn't play out. Add the daily set to this, with division lines. If the daily set is the one I have, it is 'locked' at point 1 of the 4-Point, point 2 hits the ML, and the upper grouping hits the upper //.

Thanks for the detailed account, Jim.
It's great to have such a tremendous resource where we can double-check our work.

Great commentary today Jim, thanks!

I just wanted to repost this because the same price action that Jim described a few months ago gave us clues on today direction.

" The key thing I see with the 13-min set is the upper // 'creep'. This is very bullish, and is anything but weak price action." Kane trading Forum 12\11, also from the same thread, " Look at how your lines are being followed, especially that upper //. Is this critical? Is it preparing for a pop over as we speak? "

Here's an interesting alternate ML set to look at
T

Nice work, T, as always, especially the gap notations. You have the exact Fibs I have on this. Now we see. Do they give it all back tomorrow? If so, you know Geo will be showing that chart :-) The talk on television is so bullish I was trying to hock everything I own just to buy as much as possible in the overnight session, but I couldn't drum up any more cash, so I'll have to wait. We all know those talking head TV guys are always right...

Cash Index in an interesting spot.

So, will Geo being drawing a box later today, or no?

Hey T, great chart!! Thanks for posting. I love your work and look forward to your post!!

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Originally posted by TonyC

Here's an interesting alternate ML set to look at
T

Click image for original size

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thankyou duane i knew it was back there somewhere...