There have been better days. HC in a narrow range.yay! super, I can take the day off. Maybe it is not even worth creating a new topic for today.
JI
jimkane
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Now that is something, eh? The cool thing is it went right off my upper // and Fib area, for this interesting kind of W2 set I've shown to a few people. Now I've got lines converging here like crazy, right at the .447. Back to new highs, or bounce and roll with ferocity, since that intermediate top is in? We'll see.
JI
jimkane
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So far it's done a textbook W4 bounce and roll, now we see here if that's it, or if they can keep it going. I'd think it's done, or due for a bigger bounce now. It will be curious is by some odd chance they can sell into the close (I hope, as I'm just staying short-side bias here until shown otherwise). Note the position of the 100% IB extension, and my thoughts on what happens when that gets breached. Notice the bounce and roll off that before. Very informative...
JI
jimkane
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Posts: 33,089
What a sweet day once it got moving. Nice close setting up. Tomorrow will be important. Continuation would be technically the most likely scenario in my opinion, and based on typical gov manipulation, this is set up perfect for a gap up and ramp. The gov has been winning every one of these battles since 666. Always looking for clues the sentiment has changed and the intermediate top is in (so far my key area has been tested and respected three times now). That selling in treasuries will free up money, and as long as it goes to corporates the stock market won't get it, but if not, up we go.