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.

Mark Mobius delared it a bull market, not a bear rally. It's amazing just how many hit this dead on, to the day and the point. As they said at that one web site, no bull market in history has ever started under such conditions. I guess this is the first. We also have two +300 days so far in this new bull.

S&P on track for the best monthly gain since when? March 2000. Curious, huh?

sure is, call it the bullsh**t market

the beauty of the lines

quote:

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Originally posted by mreiserer

what's it gonna be, +500 today?

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I think we have a solid shot at that +500 right now.

yup, that's exactly where the upper // is

At this point I have to admit, I am going to be shocked if we don't get to 10K with little pause. My instinct would be we are very close in here, and old Carl Futia sees 840, but I just wonder if the mania won't keep spreading...

As an aside, that ISEE index hit 266 (277 for equities) this AM, but has since dropped way off. I'm still not sure how the day's value is determined, but I think it is the final value, and if so, the value for today won't be anything remarkable. But the 'dumb money' was buying calls like crazy on the gap open today, and making tons as this rose. The 'public' is wildly long this whole move, making a lot of money. I still find that odd and hard to reconcile, as the 'public' essentially never makes money. This time they are buying mansions, and yachts, and fancy cars with their winnings. I guess there are exceptions to every rule?

C'mon, gimme that +500 settlement...

Okay, it's over 500, now settle there.

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.