Long term charts leave little doubt about the importance of the current levels:

Nice little melt up into the close. Just staying long side bias until close. It just doesn't get any better than this, in my opinion. Very cool how it 'saw' the area, dropped 2.5 points, and they just came right back in strong, and up it goes. Recall what I said before:

"I just don't see anything stopping this shark feeding frenzy right now."

"The odds seem slim it will do anything but melt up more..."

"A burst up over this area should cause a trend move until close in most cases, based on my experience."

So, 1118-19 next, by tomorrow, or give it two days? :-)

Keep an eye out in the 1108-10 region, though, in case it can't quite get to that 1.272 area without a pause. It's tough to know where it may want to go without any good downsloping lines up there.

Wow, what a day. I sure nailed it, too, as far as what I expected it to do (read my comments in the WSE topic). You really couldn't ask for a better trading market, in my opinion. The movement is just incredible. If we get a major flush in the USD (I'm not saying we will, as they seem like they prefer orderly destruction right now) we could possibly see a +1,000 DOW day. That would be cool if I were holding calls :-)

S&P cash HOD was just 0.04 away from ideal 0.886 retracement of the entire move down. And on a day that opened with a gap ... Hmm

There is a potential ABCD right into 0.886 retracement and downsloping line on EUR/USD. At the start of the CD leg a small 0.886 played extremely well to the upside. If this one will also hold then together with a setup on gold I showed yestereday this might suggest a short term dollar strenght:

Time for them to play games in the minis now.

Ready for that new high?

Careful right here.

It needs to come in a little, and then get moving. Take heed to that clue if it doesn't.

No matter how he tried he could not break free...

Pink Floyd

Sunday night should be very interesting, with this trapped rat coil right in this key area. I hope everyone is able to put the work together to see this. It's an insane X marks the spot ABCD.