Like Jesse Livermore used to let the market alone to see how it would handle it, and to accustom it to being on its own, I let the forum alone to see if anyone would start the daily topic, and, again, no one does...
Sometimes you have to let demand do its thing. I mean, if I have to start the topic every day and do almost all the posts, and if I don't start it no one else does, what does that say? What is the point in me doing this topic right now?
JI
jimkane
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If this had made it to the standard ABCD spot, it also would be a bigger TD ABCD with that ABCD in the CD leg (something that I find okay in a TD). But they just can't hold themselves back from coming in. Let's see if they have any sustain at all...
JI
jimkane
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Staying short side... Be watchful as this hits the 1.272/1.618 area off this last correction and gets to the ABCD area here. So far though, the short side is really looking good, but this is a double pattern convergence area coming in here on the 13/60-min timeframe.
JI
jimkane
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And it sure 'sees' it. Look at that RTH TD set lower // and ABCD area, at a .786. Now we see, as they get the ES back to flat on the day right at this spot.
JI
jimkane
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If this gives way, that tells me something. Maybe only that it wants a B=D, or an EXP, or that they are playing the usual games, but it also may be a sign that more of a top is in, too.
JI
jimkane
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Right off the area. Now at the first key spot on the way up. Let's see what it does here. There are several layers just above this, so how it handles these will be critical.
JI
jimkane
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Reacted to the first area, now at the last area here, the best one, with a key line. Watch closely. After this, it could get moving. If it rolls here they'd need to come in after a checkback, or it may be a big clue.
JI
jimkane
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And they talk loud and clear. I have one last grouping right here, but it's now over the key line, which lined up so well the the previous grouping. These are all just things I am watching for clues. So, if it rolled here that would still be important, but I'd more expect a checkback and backtest of the key line here, and off it goes. Let's see.
JI
jimkane
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Sweet pop there. Just staying with the 13/60 play for now, seeing what it gives.
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jimkane
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It's just moving too fast to post any detail in here close to 'real time'. It did roll off that last area, pushing the boundary as far as possible before they gave it up. Now, somewhere right in here is where they'd likely come in strong if this was a shakeout before upside continuation, so I'm watching this area. Otherwise, I'm expecting they just shake it all over the place into the close. It would be quite a clue if they could sell it off to new lows below the key 13/60 setup, but I just don't see it. It would be cool as all get out, but I don't see it. The MRRD's just won't let them. So, I'm seeing this as the first pullback off the setup, and up it goes. As I always say, let's see. I just read the clues and action, and adjust constantly based on that.