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JI
jimkane
Rep: 3,058
Posts: 33,089
Any chance of more than one or two people in this topic for the whole week?
JI
jimkane
Rep: 3,058
Posts: 33,089
They have no juice at all. Tomorrow is going to be real interesting, as they need to move this up aggressively to break the W2 for the downside scenario. If they can't do it, it should start to move down hard as W3 gets underway. That's my preferred scenario, but I'll adapt to whatever it does.
ER
EricD
Rep: 63
Posts: 692
watching it now..
JI
jimkane
Rep: 3,058
Posts: 33,089
Well, here's the key line based on my best GLOBEX set. I don't think it will hold...
JI
jimkane
Rep: 3,058
Posts: 33,089
5-min set, so just a short-term line.
ER
EricD
Rep: 63
Posts: 692
right where the standard ABCD comes in...i have it there at 105550-1054
JI
jimkane
Rep: 3,058
Posts: 33,089
Yep. Stopped it dead, too. But I think the higher 'context' is going to prevail. And if this area can't hold, that's a clue that the higher stuff may be pushing on this. We'll see, though, as those MRRD's are powerful.
JI
jimkane
Rep: 3,058
Posts: 33,089
I will say one thing, the MRRD's have to be very careful, or they could lose control of this thing pretty easy. It is so heavy from its own weight. And the higher and higher bullish targets just keep coming out on TV. The stage sure is set...
ER
EricD
Rep: 63
Posts: 692
ok until tomorrow...Thanks
JI
jimkane
Rep: 3,058
Posts: 33,089
They are not closing this good for the bulls. GLOBEX will be interesting, as they may just run it up there to balance it out a bit. But if they can't get this moving, it looks ready to drop.
MA
Marco-T
Rep: 0
Posts: 41
Hmm, bad news at the open, PMI at 46,1 (last month was 50). Its been a while since we had such a downer at the open, staying aside and watching.
JI
jimkane
Rep: 3,058
Posts: 33,089
Interesting, a little ABCD fake up and then they dump it. I don't put too much stock in what happens here, but it would be curious if they could get it back to the RTH LOD.