Man, I can't believe you guys. Not one single post last week in the weekly discussion, and no one starting the topic this week...

Anyone see the fantastic short setup right off the open? I set it up last night in my nightly work, and they ran it right to there in the GLOBEX and started to drop it on the open. About as nice as it gets. Pattern, lines, Fibs, VAH, GLOBEX high, just incredible, in my opinion. And the first move went to the TL from yesterday, and the second move, which was within one tick of the 1.272, was right at the major upsloping lower // from the key set, at the VAL area. Just incredible. Too bad no one takes a shot at posting this stuff, especially in advance. It was all on the chart last night (except the 1.272, of course).

Oh, and the ML for the key set for the short on the open also hit into the uptrending lower //, 1.272, VAL long setup, too, as well as some other things. Now we are right at the upper // for that short setup set, which is also an obvious TL, so this is a key spot to watch (if they blow it out, which I suspect, it should really move). Everyone see the bigger pattern at that LOD? Not the shortened ABCD.

That line has stopped this dead, for now. Very, very cool. But, get ready...

Is this amazing (there's Jim's old favorite word again), or what? The line stops it dead, the line I think is most likely not going to hold, and then it checks back a little bit, and now right back to the line with a lower high, which follows the downslope of the line, and it starts to check back off that. Now it has a tiny 4PT, and may drop into an ABCD here. Let's see what it does. If it drops hard off this lower high that would be sweet. 'Context-wise', though, I favor the 'fade' of this key line. This is where it comes down to which setups to trade, which to fade, and which to stand aside on. Right now my stance is one of holding the long side, seeing what it plans to do.

If this does come back in from here more than the small ABCD, watch the 62 half area. I think they want to take that line out (preferably they'd like to do it right off this 4PT I suspect), but if they can't hold 62 half, then the odds favor chop, or some selling. I just can't imagine them not running this into a Friday close to keep the streak going.

Boink! And what Jim suspects happens exactly as he suspected it would.

From BTO:

"Try, try, try, let it ride
Try, try, try, let it ride
Try, try, try, let it ride
Would you let it ride?"

Sorry, I'm bored in here, and my mind is a 'very active' one.

Now, anyone who works one-on-one with me should see a wave structure that says this may need a bigger checkback in here, or may be done. Just something to be cautious about. An obvious line like that can just be fodder for a stop run.

Looks like they want to do the next leg...

Just be cautious because of that wave structure.

That wave structure is so cool. Look at it end that move.

71+? Or just more chop?