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.

Deep C point for both. 815 would be the key area.

I'd normally say this is a very dangerous area for the bulls coming in here, but I am just extremely respectful of unlimited money...

quote:

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Originally posted by mreiserer

Deep C point for both. 815 would be the key area.

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Yes, that's why the 4-Point was a much better choice, if we got it. And yes, 815 would be the key area. But be ready in here, in case.

that inner channel starting at 3/27 on ES is interesting. set from 3/27 9:56 to 12:06 anchored at recent low.

major line I've got right here is a Schiff upper // and the trendline

and one more thing...

key area for me right here circa 810.50

what a struggle

anybody else short here?

quote:

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Originally posted by mreiserer

anybody else short here?

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You actually expect a response in 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.