940 next...

Euro on fire

M, you're back? Cool. Yes, 942 area coming shortly, I suspect. Lots and lots and lots of bull factors lining up pefectly here, so this may not end at any level we are watching. Asia up between 56%-60% for the various countries, in two months. If they continue at this pace, they are at new all-time highs in another two months! All the currencies are pointing higher. I have a major area in the Loonie at around .91. Commodities are all 'breaking out', and there is nothing but air above for a long while (here comes inflation). Terry Laundry is calling for a one year rise from here in China stocks, to new all-time highs. Mark Mobius just said emerging markets are about to start a 'bull explosion'. Hmmm, I guess 60% in two months for major indices isn't a 'bull explosion'? Wow, I wonder what is, then? 200%? 300%? All the economic reports are coming out really good, as are the earnings. I can't for the life of me think of a single bear factor.

So, we may be battling the old all-time highs before you know it. Can't fight the tape. The only thing that bothers me is that history has shown, with 100% accuracy by the research I have read, that a new bull has never, ever started with the ones that lead the bear leading the new bull. Those losers are always totally forsaken, and new leaders emerge. In this case, financials led the entire run down, and are now, by a long ways, the leaders on the way up, up almost 80% so far. The old 'the most beaten down ones have the most to gain' saw never works in a new bull. At least it never has. But 'this time is different'. This is a 'nothing but calls' market, there is no denying that.

I agree. Except for a minor area circa 912-915 I see nothing but blue skies up to the 940. Scary...

my chart of the day thus far

look how it reacted at the quasi 1-min DT ABCD at 447. Can't even think about shorts right now.

Keep an eye on 902ish, back at that key upper // from the big GLOBEX set, which is also a double SL (the SL's actually come in a little bit below there), and a '10-gauge' DBS (my nickname for a 1.618 DBS).

This is acting really tired and heavy in here, with the look like it could fall of its own weight any second here. I'd be cautious with the longs that have a lot of profit in them. Just a thought.

quote:

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Originally posted by jimkane

Keep an eye on 902ish, back at that key upper // from the big GLOBEX set, which is also a double SL (the SL's actually come in a little bit below there), and a '10-gauge' DBS (my nickname for a 1.618 DBS).

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that's a major spike line, good for a possible reaction, sell the rip and buy the dip :)

Exactly. The trend is your friend.

As an aside, as I was typing my reply it 'auto-posted' on me. Must be a hot key I somehow hit that posts. How odd.

It is all over that double SL here.

Lots of banks up 20%-25% again today, materials and mining up about 25%, Transports up same as Industrials, 214, looking good. Lots of breakouts. I think Asia might be up another 4%, 6%, or more tonight. Hang Seng will probably be up over 1,000, maybe 1,500. Taiwan is the mover, though, popping 5%-6% per day, but may start moving 8% a day now as this accelerates. Maybe we get to my next area after 942 at 1012-1018 in the next two days, to hit my time factors I showed in the latest commentary, then maybe we pull back ten points or so, and then we can really get moving. I hope everyone gets my point. I am not the type to just say things, I want people to think for themselves. Do you understand what I am getting at? Please do not ask what I am getting at, I just told you.