Here's the 4-Point I was discussing in Jim's Thoughts, with my key set. The key set line was the main factor for me. On the S&P cash it hit the line and 'tested' it three times pretty much dead on. No matter how you label this ABCD, it was an ABCD to me at a key line, with 'context'.





Now we sit at a key line, with TICK hitting an extreme, 1-min volume short-term climactic, and so on. It would be something to see if they can't bounce this up here. What a play so far, though, eh?!

Also, as a curiosity, the 1.618 hits near that lower //, just about at Laundry's low move for this leg. Very interesting.


Chart created on QCharts, courtesy eSignal.

So, did anyone short this off the top when it started to fade, or is everyone waiting for this dip to settle to get long? To me, this type of move certainly has the possibility to end the upmove. I'm not saying it will, as the level of bullishness is incomprehensible to me here, but that's what a blow-off climax looks like. Just a thought. Probably they keep running it up and up and up. But you know what I'm watching for.

too hot for me

There is a massive trendline here. I can imagine that this is going up to the 840 in the near future

now that's pretty cool how this thing is tanking

quote:

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Originally posted by mreiserer

There is a massive trendline here. I can imagine that this is going up to the 840 in the near future

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It's funny you say that, since Carl Futia said 840 when it started up off 666.

In think my point is, it's getting really old seeing people call the key reversal points to the point in advance. I'm not trying to take credit away from anyone, but we should all know in here about prediction. M is saying he can see it at 840, that's one thing. 666 was predicted as 'the bottom' way in advance, as is 840 as the short-term end of the bounce. And I have a theory, as I always seem to, which I alluded to a bit before.

I think all the major funds, with or without the prompting of the government, planned to buy 666 (666!), and 'they' decided to mention this level in advance, and tell some major pundits what they planned to do. They asked them to 'spread the word', and to take the opportunity to make themselves look great in the process. Lo and behold, to the point, it hits the predefined level, at the predefined time they all said, and goes up 20% without even a rest. And all the pundits, whose tracks records are essentially zip, hit it in both time and price dead exact, to the point and the day. Yeak, okay, sure, I believe ya. It was all a put up job, and nothing will ever change my mind on that. Great for trading, who cares, but still, something I think is the case. I think the market is essentially 100% controlled at this point. That's just my opinion.

Of course it's 100% manipulated. It's all a setup. I really wonder why the methodology works so well. Is it because it's all manipulated or in spite of it?
The 840 I just see as the next significant convergence of some lines. It's nothing but one area out of many.

and I would be very surprised if a simple trendline like this would be the reversal point, but you never know..

adjusted upsloping ML with nice hits.
appli

ed type of box method like futia

Yes, BBJ, that is one of two sets I have on the upslope. I like the horizontal line work, it really shows how they are moving this in stages, very predictably. Nice work.

I agree, T, with pretty much everything you've said. I commented a little in my weekend commentary on the unlikelihood this is a 'bull market', given all the things it is doing that have never been seen at the start of a bull market before. The intermarket dynamics are indeed pointing to the possibility of something big happening soon.

I also agree 100% with the potential doomsday scenario. There was a time when I thought all that stuff was 'crackpot' nonsense. Then I started to think maybe some of it might be true. Now I tend to think I just see no way that we won't crash back into the stone age. I try and try, but I just can't see how it can be avoided. I even think it may be engineered, not simply something that happened because of greed gone wild. I never, ever believed I would ever think something like that, but I also never thought I would ever see even 10% of what I have seen so far. Sure doesn't make me happy or hopeful for all of our futures, as you say, as 'citizens of mankind' :-(

Great market concepts, T.