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.

heh heh...

wonder if that was it

That low was at the new pattern I mentioned awhile back.

looks like a B=D or a head and shoulder without the second shoulder.

does the 1.46 play a role?

Sometimes. It's not ready to release yet, and I'm not sure I will even release it when it is ready. Maybe just to mentor students. I'm not sure yet.

Okay, this is purely for fun, since we all know I never say where anything is going, or make any predictions. Hence I will say I'm going to 'guess' that the GLOBEX high will be somewhere between 830 and 835, and the high of the day between 845 and 860, with heavy leanings towards the 860. I think 883ish is the next magnet. But who knows, with all the news ready to hit, and that G20, which they are loving so far, and the mark-to-market announcement before the open tomorrow (if that is correct). And Asia is on fire. I'd be surprised if they weren't at new bull market highs in a month or two at this rate. Anyway, I thought I'd throw those areas out for grins. Where something may go is essentially useless to me for trading (but the preoccupation for so many traders, it seems...), so whether it does any of that just doesn't matter to me, but I want to see if these magnets do attract this at all.

So, when we see just how bad this 'guess' turns out to be, we'll see why I don't even do this for fun, and I can get back to doing what I do, which is looking for setups :-)

go figure I go long and the sh!#t turns on me. I am like the cooler or something...
nice pattern....

quote:

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Originally posted by mreiserer

go figure I go long and the sh!#t turns on me. I am like the cooler or something...
nice pattern....

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Am I missing something here? You posted this at 10:31, the low was at 10:30, near perfect trigger, no heat, now up 16 points, with almost 13 with no pullbacks. Sounds like you should be jumping for joy???

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.