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? :-)

it was an inside week ..weekly open is 1102.50..could get dicey...

jarek, yes, that's it. But the important part is the bigger 4PT this is the CD leg of, and the key line that hits right there. This is it right here, right now. Now we see. I would love it if it closed right in here, because that would be a 'first move is almost always wrong' set up right at a pattern. Then tomorrow I would expect big up.

Originally posted by jimkane

Then tomorrow I would expect big up.

That could be a C leg of the 5th Wave of the Ending Diagonal I posted yesterday which would finish the whole move up from the March bottom. But there is also a possibility that the rise from yesterday low to today's high was already it and down it goes with a vengeance without looking back. Wouldn't it be a great moment for breaking the first move after the Fed rule to fool even more people? Tomorrow will be an interesting day indeed.

So they do close the cash sitting just off the pattern. Like the scenarios you point out, this has a lot of potential to be very interesting. I guess I'm just not convinced that this area is significant at all, or is nothing more than consolidation before a lot more upside, perhaps to that 1,400 area I highlighted in my chart of the month on the website.

I'm ready if this is some kind of top, I've been the most ready of anyone I know all the way up, but at best if it gives me something I can take a shot, and the second it starts back up I'm going to be longer than something falling past the event horizon into a black hole. I'm only getting on the short side when I see it selling, and if I see it rising, I'm on the long side, which is the side of least resistance right now, in my opinion. Very exciting times ahead.

Maybe critical point for DX.





Mats

Yes, Mats, and that's what makes this all curious, all these various intermarket dynamics that are shaping up in here. This surely is a critical area, I'm just not sure it won't resolve with copper breaking up, with the stock market. I'm just going to go with whatever the flow is.

Yes very interesting, this is what I have for th moment in 13min.





Mats

Will ES explode from here and dollar start to fall from that area or
the opposite, dollar right through that upper line and ES starts to move down. Time will tell.

Mats

jeez i love decembers.... this is almost to easy.......hit the numbers.... hit the numbers...hit the numbers......

didn't i start the year with this?

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.