Interesting week ahead with SPX dropping on Friday most in 2 months right from the levels and lines shown by Roofer. Also his old DJIA set suggests that bulls need to be aware:





Quite interestingly Thursday's high was 80 years to the day after the 16 April 1930 top of countertrend rally from 1929-32 bear market

Just amazing...

Keep an eye out right in here at 5.50, just in case.

Speaking of amazing, look at AAPL and AMZN on say a 5-min chart. Let the frenzy begin...

The move off the ABCD already reached .786 of it...

For those focused on the S&P, and thinking the new high isn't in yet, maybe it can turn down, recall last time this happened, and I brought up the other indices. I implore everyone to pull up, on a daily, the $RUT, $MID, $HGX, $RLX, and look at those, and tell me what you think. This thing is smoking at new 'bull' market highs once again, as the big caps lag. The big caps ain't it right now. The rest of the market is on fire.

I'm sure it won't matter one tiny little bit as this market goes into orbit, but look at the weekly set in MSFT, and where it sits right now. 3-4-5 into the most key line in decades in my opinion, right at earning today. I guess the layout says it will explode over on blowout earnings, and then be free to run hard with that key area taken out?

Fun time. AMZN hit all-time new highs today, and their earnings are a big beat and a miss, as they are saying it now. Which one, they are asking? Some numbers are better, some not. The stock is trading down right now. I suspect they will see the numbers are a big beat, the misses aren't worth thinking about, and this dip here was the bargain of the century. Let's see...

The HOD was at .886 of the ABCD to the tick...

The curious thing is how 'stretched' the indices I mentioned are today, and how heavy they are, and how easily they could come in. And now MSFT is trading down after beating handily. Very interesting, huh?

I also have a key line right here in the ES at a key .382, so let's see if they can turn it back up here.

Thanks for another great lesson Jim! I'm out tomorrow so see you next week

my apologies for showing sloppy work today... i was so eager to get my trade off and get in my yard that i did not dial down and see the micro gap left on open... thus for seventh day running price opened on gap on five, the computers searched out the .886, and that was it for the day... price was off and running..