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 ...

Well, I will say for sure I am still wary of a wicked last hour selloff as it keeps trying at that high without success. It is a mini cup and handle looking formation here, and I think the odds favor a burst up, but I am still very wary in here...

Looking like a nice strong close, but it didn't have any more steam. That leaves some for GLOBEX, to pump it up before the jobs report. One way or another, up or down, I expect tomorrow to be a big day.

We are getting one 'upgrade' after another. I can't even watch the more tame financial channels, the bullishness makes me want to puke. Dick Bove came out today and basically said the banks are awesome, and he expects they will double in the coming year. If JPM doubled, it would then be, give or take, 70% above it's all time high! Imagine that, 70% more value than before the crisis. WFC, which many people whose opinions I hold in high regard feel is completely and utterly technically insolvent, would be way over its all-time highs. It's just blows my mind what is going on. I'm just glad I feel it's tradable. The problem is, I hate doing all of this with a sick to my stomach feeling. I guess I just have to get over that...

well "CNBC IS NOW SAYING HEAD AND SHOULDERS AND A LARGER CORRECTION IS COMING" oh boy here they go again.

Really? I never, ever watch CNBC any more at all. I used to watch it all the time, but got so nauseous I completely stopped. Since they never say anything negative ever this stikes me as something they would get totally wrong, so now I am leaning heavily towards this being a W3 and we will be at new 'bull market' highs soon. I'm starting to think perhaps this manipulation up has a long ways to go. To bad, though, if it does it will come at the cost of a much lower USD. So, rah-rah-rah, all the stupid people cheer as their portfolios go up, not realizing that for every $1 it goes up they pay like $1 elsewhere in the devalued $ and tax hikes, and another $1 for Goldman Sucks and the great banks that are such a great buy here. Stupid, dumb suckers, and they are part of the problem because they won't educate themselves enough to see what is going on. Oh, well.

CNBC was 99% bullish today. Just one guest mentioned this potential H&S ...

Okay, that's the norm. I'm surprised they even let him mention that. I guess that was so they can say they have a 'balanced' approach.

earlier jim mentioned the UUP...i have had a position since the retest based on chart shown earlier...at the swing low, price had completed abcd with abcd in bc leg at line from mlset with my traders dream in place...price explosion came out of classic geometry well known at this forum.

double barrel shotgun at line that sorts fib at line from existing ml set.. THE TRADE....

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