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'"
JI
jimkane
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A bit more complex of an ABCD here. Just waiting to see if it can get through those lows, giving it room to breathe...
JI
jimkane
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Sure does look done, though. This is why I believe so strongly in letting the market say when it is done. Maybe this is done, maybe it has another big leg to come. It will tell me.
JI
jimkane
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Amazing how I said watch that .886 line area, and that stopped it dead, it did a complex little correction on it, then it headed right to the next area I said to watch. But I suspect this may drop further. We'll see. My management style is adaptive, I let the market tell me things with its action. I don't tell it things.
JI
jimkane
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Note the ABCD is in here that jarek and I discussed. If this gives way, this key area here, it implies 'W3' action for this leg. I am ready for this ABCD to take over, if that is what is to be.