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.

Got-cha, you little oinker. Got-cha.

look at the volume on ES for that last flush...

sign it might be it here?

also notice TF never went as far

I take that back. both at the 447. ES did 16 so far, TF 11

Yes, the volume on the ES 1-min is huge, popping 40K's and 50K's like it was nothing. This time I did screen captures in case those high volumes 'disappear'. Notice this was dead off that .564 and division line, and gave me a second little 'wave 2' ABCD at a small set upper //. That will be on today's list of setups :-) Now we see if this was just a big seller dumping, or if the end of the quarter has played out and tomorrow they trash this thing. This is going to be fascinating no matter what.

I do wonder if there was any profit taking in this as well.

Now let's see if they do one of those goofy bounces right up to the high, like they so frequently do. Otherwise, if this is 'real' to the downside, they would come back in here.

Look at that .382/.447 overlap at 798 that it reacted to. If they run it right back up over that, that's a big clue.

quote:

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Originally posted by jimkane

Yes, the volume on the ES 1-min is huge, popping 40K's and 50K's like it was nothing. This time I did screen captures in case those high volumes 'disappear'. Notice this was dead off that .564 and division line, and gave me a second little 'wave 2' ABCD at a small set upper //. That will be on today's list of setups :-) Now we see if this was just a big seller dumping, or if the end of the quarter has played out and tomorrow they trash this thing. This is going to be fascinating no matter what.

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You mean the ABCD to the half set upper of the last thrust up?

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.