JI
jimkane
Rep: 3,058
Posts: 33,089
Okay, folks, we need to get organized. Let's drop the old topic for the ES 4-Point CP and start a new topic each day for ES discussion (and we can discuss TF or whatever in the same topic). This way, if we want to go back and look at postings for a given day it will be easy to find, and we won't have a topic with a zillion pages on it. If no one wants to post on a given day, fine. But we'll have a topic if anyone wants to. Sound good? Here's our start for Monday, and I'll try to start a new one before each day. If I forget, feel free to start one, but use the same title format as I used here, please.
JI
jimkane
Rep: 3,058
Posts: 33,089
Pretty much right off that ML and straight up. CNBC interview right now, postive mark-to-market comments. You can clearly see they want up bad. The correction to the key area was all this needed for now. The sentiment is still 100% bullish, IMO. I say the odds favor up, like T said, to new highs, for now.
MR
mreiserer
Rep: 110
Posts: 2,220
and an ACBDEFG correction (if that exists) on the tick chart to take out the ABCDE on the higher timeframe.
JI
jimkane
Rep: 3,058
Posts: 33,089
So, we have Soros saying the banking sytem is basically dead and insolvent, and Meredith Whitney talking super-bullish on the banks. Hmmm.
JI
jimkane
Rep: 3,058
Posts: 33,089
The thing that is curious here is we drop down to a key area, and do it in a corrective look, and then we go up, and it is an even more corrective look. Very odd price action.
JI
jimkane
Rep: 3,058
Posts: 33,089
1.272 is at 849 area, which I think we may see soon. First, it has to prove itself at this .447, and get out of this overlapping swings thing, and unless it can do that, it could get hammered, but the rampers are still right there, ready, and as T said, I think they want to hit that next area fully. But it's tough not to keep taking short shots at every bounce and area :-)
JI
jimkane
Rep: 3,058
Posts: 33,089
Yep, my new term 'HC' is going to be a popular one, I think. It is amazing to see (and sickening).
