So the line from my Friday's chart finally gave way with the close below it. We may also treat the last bounce as a return move and KIG to the trendline connecting major bottoms:



Let's see if the dark forces Jim has mentioned here so many times will really be able to counter the mounting downside pressure ...

quote:

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Originally posted by jarek

We are at 38% retracement of such W1 almost at square of price and time:

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Looks like the final high came within 2 (!!!) minutes from projected time and 2 S&P points from projected price of such square of price and time. What a precision!

And everything at a level where strong trends reassert themselves ...

41.50, overshot a little. That's some big selling, though. Really sets up the big up day tomorrow.

quote:

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Originally posted by jimkane

Okay, just keep in mind that may be a short-term bottom there and it goes up 30-40 points now.

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Low was 26, HOD today 58.50, that's 32.50 points. Was that it? Sure did what I suspected. Go back and look at the time stamp on that post.

quote:

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Originally posted by roofer

almost EVERYTHING i trade is at make or break based on the tools...quite a sight.... i could post 50 charts....

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Do you often see such a number of setups when wall and stack forms?

quote:

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Originally posted by jimkane

Really sets up the big up day tomorrow.

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Do you really expect an up day tomorrow?

Very difficult when FED have an anouncement, very hard to see the direction up and down 10 points every time.







mats

jarek...yes///jim's big up day? price certainly closed on a pile of kane abcd's....

Roofer,
I learn a lot from your charts.
Just to clarify, your uso setup today was an exp abcd at the ML on a .886 gap up for a fade? Could you please comment on the fade of the upsloping ML or you you take that as a short term trend change, draw a downsloper, and then fade the retest playing for the lower parallel? Appreciate any help you can offer as im trying to assimilate all of this.
Thanks
Stuart

if you look back , there are posts about the importance of the coming together of ,886 on gap with 1.128

if you are trying to integrate old school ml work in this.. forget it...simply put, with my tools i am totally willing to sell against an upsloping set...i have done the massive amount of work to have the confidence in my work...

Okay, 67 was it. See ya all Monday. Great posts, everyone.