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?

Well, that was certainly a curious finish. Didn't look just like profit taking, did it?

Very hard to say. As Geo showed with his IWM set, and I have with a slew of 1.272's on my mini chart, there was work there to play off of. But the mania is so overwhelming right now I just can't see any downside until something big happens. That doesn't have to be an event we know about, since there is a lot going on behind the scenes, but this will go, I suspect, until the big players have sucked in as many as possible. They don't want to spring the trap until it is chock full of game, IMO.

What would we do without the lines?

Here's a line I had before the above set, as I played with 'crazy' TL's. It duplicates the upper // dead on. Someone should show this. Do a line, on a 13-min (or 15-min) from the low of the opening bar on the 16th, to the high at 15:21 on the 18th (your point 2 for your set). It gets hit twice dead on, and then again today, where the sell off started. That's amazing to me. Yes, you could get this same line from the latter two points, but I had in before those two points, and was able to use it for them. Crazy TL's, done from obvious points, that support my premises are invaluable to me as a supplement, and even to give me ideas.

Very cool.
At what point do you 'believe' in a line like this?
In other words. Is the line already trustworthy to you before price hits it on 4/20 after the gap up?

Crazy trendlines are definatly an art that is aquired with lots of screen time IMHO

This wave 5 is scary picture perfect. Wave 2 ABCD pullback, now a Wave 4 4pt CP.

at the old forum i spoke of building a wall... ie when i look across the broad sweep of my traders and they are all at key turning points and all giving the samesignal, that is when i trust the line..that is the advantage of watching lots of stocks... your brain says ''oh, there are sell signals across the board... ''

Lines, lines, lines.....

The blue set was my key set for today. Notice the current action (endless sideways chop), and where the daily pivot is.

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