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.

Pretty clear clues. Looks like a ride until close day, boys and girls. I have a minor area around 807, but otherwise, nothing but blue sky until that .786 and major upper // around 818, which is also a retest of the daily line that sent this down. This is the very last chance right here for this to roll and still be part of this area (C'mon, baby, roll), otherwise I'm ready to just check it at 14:14:59 and see how high it finished :-)

that 807 is also where a Roofer-like spike line comes in. It's a long one.

I stand corrected the spike line is right here circa 805.50

Okay, key division line at .564 here. I doubt anything will stop this today, so I'm heavily on the ride until close side. Last setup was at 12:34, which I will mention later in my new section. Now we see if they are going straight to that key upper // (which would also close the gap). Unless they actually do dump this once the quarter ends, I can't see that upper // doing much, so 1.272 and above is next after that. But, I just see what it does at each area as the long runner plays out.

I have so much at 817-819, though, if it can get there with no break, I would expect some reaction. Imagine if they closed it strong right there, that would be something.

amazing how ES is still tracking that main set from the 3 minute. The one where I assume your 12:34 setup is off of.

Yes to both.

Okay, starting to react right off that division line and .564 area. Get ready for a small roll and then an explosive ramp up to that upper area. If it does not do this, that's a big clue.

if this rolls to the 800 area there is a great spot for it to continue

so while the ES retraces 5 points, the TF retraces 5 points. Hmmm... 2:1

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.