Originally posted by jarek

Maybe in the current environment we needed not just 3 drives to the top but something like 3.5?

It is very interesting to note that the push to the last top in ES was equal to exactly 61% of the average length of the previous 3 drives:



Is somebody playing games or the manipulation adjustments should also be calculated using the Fibonacci sequence? :-)

Hmmm, they really didn't like what Ba-rock-star Obama said about the health care plan. Started selling aggressively right on his comments. Let's see if this snaps back, or has some sustain. This breaks down that 'W2' there, and is at the last chance 'W2' spot here, or we may be ready to do some real downside. I hope so.

Really nice analysis Jim...the ABCD failed miserably from the LOD

1.272 to the tick and up it goes. Very surprising, huh? But is it just a tiny bounce? Or rocketship to the moon? Do some work, form a premise.

Wheeeeeeeeeeeeeeeeeeeeeeeeeeeeee!

i just wanted to catch a swing....when spy and qld gave the textbook entries at same time.it IS! december, the month of the numbers traders after all...time to trade

USO

This thing sure is following jarek's study of most of the movement being overnight...

So, what does this do on the announcement? Burst up to that 1.272 at 1128? Or that smaller 1.272 at 1116.50, near the .886 at 1115? Recall the 'first move' is almost always the wrong move, with that first move defined as per what was quoted in the 'Cant-Miss-Quotes' section on 11/15.

Somehow I can't see this selling and closing down today, no matter what. To do so would imply the Fed said something very bad, and I just think they wouldn't do that no matter what. But that would set this up for some big upside as it does the opposite of today. So, I suspect up, and perhaps that might be the climax, as it sets that new high (recall the Trannies are already setting new 'bull market' highs now daily), and then maybe some downside. Keep in mind, though, betting on downside here is quite against the flow, which is still manifestly 'up'.

Okay, is that the little pullback/base and now it explodes up? I can't imagine they don't run this. But, who knows, this is just bandy, it's all about setups when it comes to trading.

Talk about a muted response...

in other words... it used to be that when a bear market was coming to and end, you would see relentless block accumulation. in late 81 and all during 82 there were block after block of million shares.on large upticks... then the stock would selloff so the specialist could cover his short position..it was pure manipulation.... in a market that did not trade over 30 million share a day....but with the advent of bearish etf's,the big traders can accumulate large blocks in small bits on downticks under the radar knowing they are going to take market higher eventually by being hedged with bearish etf's.