So, another Sunday night GLOBEX session way up, and another new high for the entire 'bull' market, as 1180 bites the dust.

Now, notice when this hit that potential support area I was, once again, ready to get back on the long side bias. And once again we are at new highs for the move. That was some 15 points ago already. My point is, my approach is to lean on the long side until it breaks. Will we see 1,400 soon? Maybe. Could that high tick at 1180.50 there be the highest price the ES trades at for the next ten years? Possibly. Anything can happen. But, what do the odds favor? Which way is the trend? Is the trend your friend? Do you say that, but then fight the trend endlessly? Me, I'm always about my saying: "I'm goin' with the flowin'"

Those are my two key setups there, jarek, and the reason why I think the Dec high will likely be taken out handily. The next areas I see are around 1250 and 1300 (very roughly). Gold has been in a solid bull trend for a long time now, and every pullback is in keeping with that. It is very similar to the price action in the ES over the last year. And the same in that many keep calling tops, calling for way lower prices, talking about how significant each top will be, how it is 'done' and 'toast' and so on. The similarities are striking, to me. All I can do is take the same approach as with the ES, lean on the long side until proven wrong, and ignore all the top callers. Note that silver is barely over a buck away from new all-time highs. That's two good days of movement.

Originally posted by jarek

Originally posted by jimkane

Well, from a technical KT perspective it surely could be a 'W2' if that's a top, or possibly a BC leg of a bigger ABCD...

With so many bulls waiting to unload at 1200 and beyond wouldn't now be a good time for them to take some heat?

Yes, but the talk is a big top between 1200 and 1225 (some say as high as 1250). I haven't seen anyone not calling a top in there. (Time-factor-wise, too, April is big for this.) That tells me the likelihood is it could go well above that. But, how could they game it to screw the top callers and the bulls over? That's the interesting question to ponder.

Originally posted by jimkane

83 bounce and roll would be a big clue, IMO.

Looks like that is what just happened

So, that has me staying intraday short side bias for now, as we hit the next key area right in here.

77-78 is the next key area. But we have at least two minor spots on the way there to keep an eye on. Otherwise, it's just a ride and see.

Originally posted by jimkane

... But, how could they game it to screw the top callers and the bulls over? That's the interesting question to ponder...

Drop it now heavily to shrug off bulls and then ride it relentessly over this top area to grill bears :-)

That is a very good option, I think.

Watch this .886 area here with that original key line from the low of this AM. They seem destined to at least hit that first key area at 77-78, though.

Okay, that .886/line stopped it dead and started a bounce. Now we see. Bounce and roll I hope.

Bearish tick chart ABCD...

Careful, that nominal new low and snap reversal here may imply a rocket up now.

came in from my garden and saw i got ''boinked''!after first swing down, i move stop to break even, willing to give them the comish...