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.

813 first spot of note

quote:

---

Originally posted by mreiserer

...man it's boring in this forum...

---

Yep. At least I'm watching your posts. I'm not sure anyone else is...

So, it rolled right off the gap .886 DB as you mentioned, and went right to 813 and started to bounce. I was kind of hoping that gap .886 would mark the 'top'.

this is an important spot right here testing that ML from below. Then there is the obvious trendline lurking at 812. Need a bulldozer for this stuff..

so it turns around at the last possible spot and now a 4pt to take out the highs?

Or that was a 'retest' and they finally drop it into the close.

One thing is for sure, they still want this thing, and sellers are terrified to even probe them a little. Until that changes...

true. I hope they'll drive it into the ground and bury it once and for all.

bounces right off the obvious trendline..

key spot here

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.