I added the set shown on Friday by Roofer to my DJIA chart. Doesn't this combination look interesting?

Originally posted by sirios

Do you see like big TD is probably forming on EURUSD with ABCD in BC leg and DT in CD leg ?

sirios, good eye. This is probably more like two comparison moves because it is a little spaced out for my taste to all be part of an ABCD. It is still a valid area to watch, though, especially since the DT ABCD is surely valid.

Originally posted by jimkane

...I suspect we see at least 1110-12 tomorrow...

Adjusting for the appx. 5.50 difference in contracts at the RTH close yesterday, my equivalent estimate on the March basis would be 1104.50-1106.50. This is acting tired, but based on what has unfolded so far today (what today's action maps out to) that estimate isn't too bad, if they can pick it up. All I knew was I thought the odds favored more 'up'.

Originally posted by jarek

Originally posted by jarek

I will take the opposite side Jim...

I was on the wrong side, Jim was on the right side. What a surprise!

Well, what's important to see and understand isn't who is 'right' or 'wrong' but why it seems my percentage of reading it the way it winds up playing out is as it is, and that comes from my 'context' reading. It's the most difficult skill to learn and explain, and really comes from tens and tens of thousands of hours of looking at the market from the viewpoint of the methodology.

This thing is sooooo pathetic. Look at the volume! We had a one minute bar with 19 contracts traded!

Be very careful here, this is not acting well at all.

In case no one sees it, this could be a W2 flat/4PT hybrid here off of jarek's HOD layout. Just a thought about why a hard roll in here is something to consider. I think it wants those higher areas (maybe even new 'bull market highs'), but it just has no volume and no 'umphhh' to get it up there.

Really hard to watch it Jim..Pathetic..is a good word to describe this..

Jim, they didn't drop it from potential W2, so in this up context we should expect up tomorrow from 0.886 ABCD with flat ABCD in BC leg?

Originally posted by sirios

Jim, they didn't drop it from potential W2, so in this up context we should expect up tomorrow from 0.886 ABCD with flat ABCD in BC leg?

My thinking is that we are at a very critical area right in here, and it is acting like it wants up. So, I will be watching very closely how it acts in here. If they can't turn it down here they will surely try very hard to get to new highs ASAP, in my opinion. My key area if they can move it up at all is 1103, plus or minus a point (1102-04). If this area doesn't turn it down I am looking at a few other areas above, a minor one around 1106, and two cool ones, one at 1108.50-1111, and another one around 1115.50-1116.50. No matter what, it's going to be exciting, I think.

n take a look at the potential massive 4pt shaping up on cable weekly.
Like Jim says it's critical area, but also consider the timing with holidays and last two weeks of year coming up.

AAPL a few pennies short of 214 today. Smokin' at all-time new highs. GOOG a penny shy of 626, also just exploding to new highs for the 'bull'.

Also setting new highs today for the entire 'bull': Mid-caps, Russell, NDX, NASDAQ Composite, and the SOX Index.