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...

Did everyone see the critical upsloping line for this?

I suspect it was something more serious than the TL from the 2 lows earlier today?

Yes, an obvious adjusted set.

Originally posted by jimkane

The critcal line(s) for this to turn up must be upsloping. Downsloping lines are primarily for timing, in where they intersect the upsloping line(s). This is a crucial concept.

I was thinking about the 1.127 projection which differentiates an ABCD from W3 rather than the downsloping line on my chart

Originally posted by jimkane

Yes, an obvious adjusted set.

This one?

That's the one.

Notice this stopped dead and started to check back at the .382 to the tick. Same old song and dance, day after day.

Will it aim for this obvious spot to form yet another ABCD today?

No pattern but a line and a classic Fib for potential W2 at today's high:

After that .786 (within less than two ticks) pullback to 15.50 from the drop on jarek's chart, the ES now hits a new HOD. That upward bias is just too strong to fight. Watch for a stop run and drop in here, since they only seem to be able to game it today, it's overall basically directionless. Then we can see if the uptrend can continue in a more serious manner.

To get a handle on just how strong areas of this market are, look at retail. Absolutely smokin' off at a new 'bull' market high. Look at $RLX or XRT. And look at ANF as an example. Just exploding. There is still a lot of buy-side interest in this market.

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...