Here is the update of few charts from last week.
DJIA still respects the upper ML of Roofer's The Trade setup at March bottom:

Sure isn't much commitment to trend in here right now, is there?

But they can't get it up either ...

The last push up to the ML was a typical Wave 2 retracement. Looks more and more interesting on 1-min (although on higher timeframes doesn't look exciting at all)

Originally posted by jimkane

My 'guess'? They explode it up. 'Rampers always win in this market'. We'll see. That 4PT is to be respected until it gets blown out.

How could you be wrong even once :-)

Been doing this a long time...

But note that this little blast up also forms a potential ABCD here, and if this isn't headed up (in this manipulation market, what are the chances of that???), this is something I want to watch closely.

Are you talking about this one?





I couldn't find a line for it ...

Now I see - it was a division line from my set on 1-min

Yes, I have two lines there, but it has an ABCD in the CD leg, one of my primary red flags. And 'context-wise' it would have to be a W2 off the new 'bull market' high, or a BC leg of a bigger ABCD. So, the odds favor it turning back up, I think. Can't wait to see.

Jarek, this is what I think Jim was talking about

Okay, I'm done with the one man show. I did enough notes, with the time stamps, for everyone to study. Have fun.