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.

it's actually Es: 5 points and TF: 6 1/2 points.

Yep, I think the TF is baaaaaaaack.

If it can't hold this key 800 area, it may be done going up.

anybody see the large flat standard set and the divsion lines that TF bounced? That's cool. Don't need to ask you Jim.

If this did indeed roll way down from here, that TF would have put in one heck of a nice head and shoulders on the 60-min.

this right here should tell if it's going to continue to roll

quote:

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Originally posted by jimkane

If this did indeed roll way down from here, that TF would have put in one heck of a nice head and shoulders on the 60-min.

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that's as nice as they get. very symmetrical.

And that's all the more reason why I suspect it won't play out.

ES dead off .382 and original set lower //, which is also a natural TL.

yep. It could still do an 886 right back to the 799 area and 486...

Small ABCD at set line upper // and .618 coming off that 801 area. Now we see if they want up or down.

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.