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?

Very Interesting.
Thanks Jim for all the details.
Big .685 4pt CP, trendline where price closed.

Hmmm, I need to get Ensign so I can show things easy, like you guys. No, wait, I'm trying to do less work. Do the bearish 'wave 2' 4-Point starting from your point 2. It goes to your line, and sells down in a small ABCD. The CD leg, which usually is close to a C=D ABCD, is a full ABCD. This is best viewed on the 1 or 3-min. That's the rocking chair part, overextended.

You can also see the bearish ABCD up from your point 3 here that the same small ABCD started from. A 4-Point and ABCD, both bearish, and it sells and then jumps right up to the line, going over it and closing strong. Unless it simply wants a slightly higher point for the 4-Point, this is a rocking chair pattern ready to happen, and supports the bigger bullish 4-Point. See if you can show a chart of this. It's tough, because the rocking chair part isn't a B=D, or close, ABCD, it's a standard ABCD, but all the rest is there.

I don't know if this is the right ABCD. The CD leg in this ABCD is a 1.618. I don' see a full ABCD in the CD leg. There are so many ABCDs in this area.....I've got ABCDitis, heh heh

Daily Pivot in the midst of things once again.

Mega grind/trendline creep, especially ES and INDU. Keep an eye on this.

Beige book in 5-min...

Notice the Russell is bleeding like a stuck pig right now, and the INDU is exploding.

quote:

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Originally posted by jimkane

Notice the Russell is bleeding like a stuck pig right now, and the INDU is exploding.

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I was wondering the same. Why is that?

Sweet! I hope you all saw that TD 'wave 2' ABCD right at a natural set upper //, to set up this drop. Points A and C were right on the ML, too, and the D point was right at a .786 and .564 overlap. This is what I mean by a 3-min setup where I would look short. Anything higher in timeframe and the upward bias has to take over for me (for now).

Well, the INDU is the main instrument, with only 30 stocks, that they are pushing on to get this up, to suck people in. It will be hard to convince me this is 'real', but it may be, since the money has to flow somewhere, and looking at the Chinese stock market, stocks are it now. Time will tell, and for the 3-min, it matters little to me.

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