I thought I might try something different here, and see how it goes. It's quite difficult for me to post a lot to the various topics, especially with charts, since the method I use for posting charts is very cumbersome. Some charts can take me a half hour or more to put together. Since the charts I use for posting are not my 'working' charts, this work is duplicative.

I have various ideas and thoughts here and there about different things, and if I have a 'central clearing area' where I can just put out a sentence or two, pointing to something without doing the work, the members can do what assessment and analysis they want with the ideas, and post charts if they want, preferably to the respective areas they have for that topic. This way it would leave this topic more 'clean'. If you have a question or comment on what I was pointing out you could post that in here.

Let me know if you have any thoughts on this, or anything you think would be helpful/useful. Keep in mind I am not going to just tell you all my best setups in advance, especially if I plan to trade them, as that is not 'what I do' in here, or anywhere. I want to point out things that may need some work, and might go unnoticed otherwise, or are just of interest.

Boy, are we 'there' or just about 'there'. Look at those indices charts and the things coming in just here or slightly above. This is the first real 'test' of the bounce, IMO. If it can take this out decisively I see only one area up a bit higher (where weekly sets based on the entire run up have ML and division line convergences) where it would have a real hard time, or new highs may be on the way. As for me, if this area here gives me a trigger, my bias is all over the short side. And as I mentioned in the commentary, among talking heads and bullish-type traders I know, they are all extremely bullish. One trader, who fully declared it to me as a bear maket, showed me about twenty plays he was working on to get into, and every one was a long. Don't get me wrong, it's going up right now, but I'm watching the short setups, and most everybody I talk to is aggressively getting long. That makes me really watch the shorting areas. Just some thoughts.

Just some thoughts: The way the feds have cut rates(out of desperation IMO),it's hard for me to see the stock indexes moving down for the time being until we can see a significant bounce off the daily/weekly/monthly charts.The last time I can remember them making such drastic rate cuts as a desperate measure to inject liquidity in the stock market was right after the 9/11 events.There was a big bullish bounce and somewhat of a ramping up action that lasted for several weeks before rolling over and dipping to new lows. I don't know if it will play out in a similar fashion but what disturbs me most is that the feds lately seem more preoccupied with manipulating stock market performance(including real estate market) rather than dealing with blatant inflation.
Speaking for myself,until the run up becomes visible on my daily/weekly/monthly charts and hits a bearish PTA , for my intraday plays I am just going with the flow wich currently favors the bullish side.
T

Rolled just about dead off the areas... Now we are at the next lower timeframe areas.

They are defending this 60-min Russell ML here like crazy. Look at that coil. If this goes (gets taken out), I suspect it will flush nicely.

imho this has legs to the 670 area where the lower // from the weekly set awaits again.

Hmmm, I meant S&P above. But the principal is the same. The area went to the downside, but no follow through. I have never seen such support with no rise. They are sitting there taking all that is offered, but not bidding it up at all. I keep waiting for the support to give and cause a huge sell into the close on Friday, and they keep taking everything offered. I'm finding this behavior very odd indeed...

Remember Monty Python's 'The Meaning of Life'? One more mint....
That's what this reminds me of.

Everything is right back at key lines in here, right as El Presidente signs in the stimulus bill. Very interesting areas, but the bigger ABCD's are compelling, right to the upper areas I mentioned awhile back. This should be fun either way.

A week later the S&P is right back at that lower //

Now, I am surely considering that the indices may be on their way up to complete ABCD's right at the most obvious areas on the charts to all technical analysts, but something interesting has shown up. Look at a chart of EWZ (daily and longer-term weekly). This is a proxy for the Brazilian stock market. Nothing there says to me that this thing won't be at new all-time highs very soon.

I know, it's part of the BRIC (Brazil, Russia, India, and China), and they are powerhouses and we are weak and flailing here, but will we be dropping to new lows for the bear market as Brazil hits new all-time highs? Or will this finish its thrust to new highs as we complete our ABCD's? Just look at the pattern that completed to start that EWZ back up. It is one of my favorite 'proxy stocks'. I would watch it closely as our market unfolds.

I think the second chart is particularly telling. I agree with the conclusion, this market is nothing more than Euro-yen carry trade on, Euro-yen carry trade off. No balance, no participation, no depth, as I discussed in my last monthly commentary, just leverage/deleverage, risk on/risk off, and that's it. Skynet is totally sentient. How long, like in the movie, until the machines decide to vaporize the useless humans?

http://www.zerohedge.com/article/tale-two-decouplings