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...

Directionless is a good description of today's action.
Jim - would you allow such a potential double .886 ABCD or is it too big of a retracement?

As I always say, where is the trend, where is the correction (ABCD)? There is no trend here preceeding that ABCD. There is a lot to be said for ABCD's in ranges, and T has done a lot of work on multiple joined ABCD's, but my style is to look for ABCD's as corrections to obvious, visible trends. When I back off from your chart and go up a bit in timeframe, I see a bullish EXP/flat hybrid ABCD to send this up for another new high for the move.

It had a deep near .786 (it was half way between the .786 and .886) pullback, and now it's on its way up and over. That's the highest probability scenario in my opinion. It may just chop in this 'range' in here for awhile, who knows, and that's probably the next most likely scenario, but I'll play the highest probability scenarios over time. I'm 'guessing' tomorrow is a big up day. Given tomorrow is the big jobs report, that would imply the report will come in manipulated much better than expected. We'll see.

Originally posted by jimkane

... I see a bullish EXP/flat hybrid ABCD to send this up for another new high for the move...

Are you thinking about this one?

That's the one. And if you put that set on there from yesterday, the set where the bounce up at 14:46 hit the lower //, then the first outer division line hits right on today's GLOBEX low.

Here is the chart with that set added:

Nice job. That's what I am looking at.

All I have to say is "JIMADAMUS"

Been at this a long time...

And there's another new HOD off that little 5-min flat ABCD (as always, keep an eye out for the stop run and reversal).

But, as I said, people should be watching $MID, $RUT, $RLX, AAPL, ANF, and so on, these things, among many others, are on fire. They are really ramping up the 'Risk on' trade.

Finally broke that pathetic little range, to the upside. No surprise there. Look at the issues I mentioned. The path is clear.

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...