Not only did DJIA hit 50% retracement of price and time right at the downsloping trend line from the top but it also reached the upper ML of a major set coming from Roofer’s The Trade setup at March bottom:



I lost this set from sight after reaching the main ML in May - it was beyond my imagination at this time that the upper ML could be reached in this move …

ES approaching key .382/.447 area with major set line (look at GLOBEX) in here. So, keeping a close eye on that.

i seen it Jim..i nibbled on a small short ..was looking at the context of how far it traveled from the high with no significant correction but the risk is so small..i felt it was justified.

Boy, do they want to launch this ES from here.

I'm not saying they will necessarily succeed, only that I can tell they want to, real bad.

If they really did gun this into the close and got traction, I'm looking at 1114-16 area. In the meantime I'm watching this little ABCD area here at the .382/.447 zone. Big clue time.

Interesting how they came in at an alternate ABCD, right at the most obvious upper //, and dropped this right down to a new LOD. Very, very curious. Those disappointed bulls must be ready to cry, they so expected to just start to ramp up right on cue, as per the norm. Will this move here finish this off, then they start the ramp, which continues in the GLOBEX? You know that's what they want. I'm watching for a sea change in protocol, for the clues that will give me.

HPQ earnings will be important, as they are now being moved into the elite handful. Let me guess, they beat estimates and the stock explodes up to a new high for the 'bull' market.

How can this be, HPQ is trading down in the aftermarket, around 50, Got to jump all over that and buy a bunch, it is some kind of anomaly, it will smoke higher, you'll see. They have conditioned us properly to only buy, nothing can go down, it's not allowed :-)

By the time I posted that it reversed and hit 51.39!

Well, they didn't blow out earnings, but were mostly about as expected, and they don't know what to do, as it sits down just a little. I'm guessing they sort it out and explode higher. Let's see. I'm just playing around, but in doing that I'm trying to point out that with rare exceptions, no one is going to sell, so how could it go down? And everyone needs/wants to buy with all those USD they are shorting, so up things go. What else needs to be known? And if not here, then in commodities and AAPL, and GOOG, and AMZN, which are all smokin' here, and so on.

Third time was the charm, jarek. But with a 32.25 point rise off the low, I'd say the PPT MRRD's were out in full force, as expected. I didn't get much sleep, with a range since yesterday's GLOBEX high to close now of over 76 points in smooth trends!!!