First of all I would like to take this opportunity and wish you all a very happy holiday season. I would like to thank all of you who are contributing to this forum, especially Jim and George. I learned a lot from you and please accept my sincere thanks for your efforts.

From me and my family, my best to each of you and to your families.

Jarek

Originally posted by jarek

Originally posted by jimkane

No matter how hard I try I can only see this going up...

And if Jim says up .... then up it goes :-)

Nah, not always. But usually, from a probability standpoint, I seem to be able to get a good bias read on it, so if I mention something, it's perhaps a good idea to study that. That's why I post my bias from time to time. Remember it's a probability game, so many times my read will not be lined up with it. It's just a matter of does it line up enough to give me an edge. I feel it does, which is nothing more than my opinion. If you think it does, then study around what I am saying, and see if you can develop your feel for the 'bias' concept.

5.25 point range all day. Welcome to holiday trading. At least CL and gold were moving.

S&P cash set a new high for the entire 'bull market' today. NDX, NAZ composite, SOX, mid-cap ($MID) are all smokin' at new highs right now. Take a look at the latter ones. I mean, they are smokin' the new highs. This thing is a monster, just as I suspected...

Not trying to sound cocky, it's just the manipulation game they are playing is pretty obvious.

One ABCD already completed and second one might be just forming to drive the move down of that 1.27 top earlier today:

Originally posted by jarek

Here is the close up look at the sliding parallel of the copper long term ML set:

Click image for original size

The line was clearly challenged for 3 consecutive weeks. Not so long ago crude oil tried to overcome it’s Schiff ML resistance for 6 weeks in a row before retreating. Let’s see how things will develop here.

On my charts, which are for a different version of copper than jarek's here, it exploded up and over the line. If this 'holds', as I've mentioned in here, I think it will be the single most important event in all the markets combined. It implies to me there is economic recovery and S&P 1,400 is on the way, and in short order. It seems far too unbelievable and fantastical, and I'd like to say I'm completely skeptical, but copper is the barometer, the marker for demand for building and expanding. Copper not rolling over in this critical area tells me 'deflation' is off the table. We'll see if it's a snap fake during the illiquid holidays, or not.

Actually, jarek's version here may be the same futures (what are yours, jarek?), only with the decimal moved over two places.