So there is another chance to extend the recent string of Monday up sessions, which Jim is stressing so much lately. Based on the fact that Kane ABCD completed exactly at .382 of the previous swing we know that there is exactly 87% chance of taking out February highs. And looking at counts posted on various sites by prominent elliotticians pointing to imminent start of wave 3 of 3 down, we may expect that there should be enough fuel to propel such a rise.

Nothing decisive happened to the long term picture of the issues posted here last weekend. One interesting development though is 10Y yield. While many (including myself) were expecting a break and acceleration to the upside, we had a strong move down right off Kane ABCD:



Hard to imagine that this was a Wave 2 ABCD, but we can't rule it out...

Be very careful here. That 1.128 HOD shouldn't produce this much struggling if it has the juice to keep going up. It may just want a bit more of a pullback here, but it could dump, too, so I'm being very cautious with this price action. This may be a 3-4-5 ending sequence.

5-min TD ABCD shoots it right up to a typical first thrust area, but now let's see if it rolls over, or checks back a bit and then starts a 'W3' type follow through to the upside.

:-) :-) :-) :-) :-) :-) :-) :-) :-) :-) :-)

So, it jumps up off the TD ABCD, goes to the ML of the TD set, pulls back in (as I mention watching this for a 'W2') to where? A .685, right at a key set line for a 'W2', as I show my one-on-one students. All my one-on-one students should have seen this script unfolding, as I cover this in detail. Then it jumps two points as the cash market closes, setting this up nicely for GLOBEX.

BTW, another up Sunday night GLOBEX/Monday session. Is that 24 for 26? I lost my count, I'd have to check. Maybe 25 for 27? I hope everyone is leaning on this until it breaks. It's an amazing bias, and it is well known now, but still persisting.

We are sitting in rather important place from longer term perspective:

Nice chart, jarek.

I think the critical thing to note is that both the Russell 2000 and the Midcap index set new highs for the entire 'bull' today, over the previous high, already making back the entire drop to the Feb 5th low, as I suspected, and mentioned many times. Yes, maybe the S&P 500 doesn't set a new high (we'll see), but as I said, the S&P 500 isn't the whole world. Amazing how all those W3(3) callers took the pipe so far, huh? Not a lot of a future fighting obvious trends.

Nice double top there, ticking that GLOBEX high and then backing off. Let's see if they dump it now, or if this pullback is just a launchpad for another new high. Watch crude, which is backing off. They are loving the risk trade today.

I've got an area right here around 17.50, so watch closely how it acts in here.

I'm thinking I could be short-side bias until close, though, we'll see, it all depends on if this area is 'seen' or not. Keep in mind I'm long-side bias on the higher timeframes, but I recognize we just completed what may be a 3-4-5 ending sequence today, and nominal new 'bull market' highs are sometimes sold vigorously. So, if this rolls off an area on the intraday short-term I can play short side if I get a setup. This approach, of course, can be scaled up to any timeframe, as long as the concept and the proportion are retained. This is similar to what I was explaining about countertrend back to support when we were all discussing my approach vs. roofer's way back when.

And as I was typing that last post it sure did 'see' that area. Now let's see if there is any follow through to the upside, or just a bounce to a typical .382/.447 area and right back down.

I also had this 17.50 area at line intersection. Watching also some nice groupings below for a possible DT ABCD:

Okay, folks, the one man show is over for the week. We got a high close for the week, we got the big up day I expected today right off that ABCD I mentioned, we got the jobs report beat I expected, it's all following the manipulation script as expected. I see some exciting times ahead. I think the only thing that can stop this runaway 'bull' market is a crisis. Not the threat of a crisis, but the actual crisis grinding manipulation to a halt. Since the expected reaction to a crisis is to manipulate the market up even further, the only thing that will likely stop this, in my opinion, is a crisis such that they simply aren't able to run money into it at that point.

Keep an eye out for my monthly commentary, which I hope to have posted tonight, but if not then, by this weekend. See everyone Monday. All two or three of you...