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.

that's a big cloned line for TF

if they climax this into the 838-840 area it could be interesting. Beautiful ABCD shaping up on 13 min

Sure looks like your 850 is next. Look at GS just smokin'.

well, that ABCD sure looks nice...

I wouldn't step in front of this freight train. I'm staying long side, probably until that 850ish area, which I think we may see in a very short while. We'll see, as it hits your ABCD. Just not the kind of momentum I want to see for a 'wave 2'.

cup and handle on tick chart and off we go..

Sure does see the ABCD at the line, though. This will be interesting. Most likely scenario is a pullback to a key area, then up it goes.

technically a great spot

how about a sell into close, heh heh...

I'd love it, but I just don't see it. Maybe a big seller decides he doesn't want to hold over the weekend, but all the news is out now. I think they will run this until the close, and close it strong. Then maybe next week they 'take some profits'. But, it seems 9 out of 10 Sunday nights they run it up big, so who knows. I hope they do kill it 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.