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.

If someone wants to do something cool go back and find the POC for Mar 23 (you can find this elsewhere on the mypivots forum in the market profile topic). This is a 'virgin' POC, having never been tested, so I had it on my charts. Do a 3-min chart of the ES for today, showing that POC level. Notice anything interesting? That's why I try to integrate such things, when they fit into what my usual methodology shows me.

As a partial aside (this would be an aside that isn't fully separate from the current topic, only partially separate), notice the major key uptrending lines in the ES and TF. The ES was either extremely close, or dead on, depending on how you 'lock' your set, and the TF was dead on. Also notice the 'trendline creep' in the TF, and how it diverged from the ES, putting in its LOD much earlier at 10:45 AM and going up from there. Point is, this POC thing happened as the ES came into its key area. What happens from this area, to me, will set the tone for further upside, as 99.99% of the people I heard said we will have, or further downside if it fails. In my opinion, this is one of the most crucial swing trading spots in a long time (long time as in weeks).

very cool. I was aware of that creep and I can't imagine it's gonna hold, but my imagination is poor.

M, Can you post the 3-min ES today with just that POC on it?

here it is

Here's what I wanted to show:





The ES went to the virgin POC, tested it from above, then dropped below it. It then tested it from below, and then went back above it. It then tested it from above again, putting in a head and shoulders bottom (inverted they like to call them, but I don't see the need to add that additional descriptor), coming right off my key 60-minure set lower // area. I thought it was curious how it used that POC step-by-step to create a bottom formation at my key area.


Chart created with QCharts, courtesy eSignal

Watch 796.50-800 area very closely, as that's the the key spot to see if this move up off this key area is 'serious'. Very curious thing that is unfolding: daily setup driving it down, 60-min driving it up, now at 13-min to continue the down. Lots of clues in here.

Fibs all lined up there.

And key set lines across the board. Super-key area, and today the last day of the quarter. Set up perfect for them to 'let them go', and they are acting like they want to run it. So, the stage is set, and now we just see if the trap will be sprung, or not.

it's a bull market you know :) ....here is the other area...

it is also curious to see that the dollar is up while the market is up. Haven't seen that in a while

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.