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

And that line gives way easily, right to the HOD area. Can't say I'm unhappy with this long setup so far. Everyone did see the fantastic 'W2' DT ABCD that formed at 14:02, right?

This is a time for caution for me here i.e. this is where I'd be tightening up the stops quite close behind the market action. Let it breathe, but not as much as on the way up.

Next leg coming?

And there it is.

Another ABCD, and another new high for the move. And there goes the HOD. Looks like another up Monday, too. This one followed the script right to the close. Still no signals for scaling on that long side.

Hmmm, this couldn't shoot for my high area in the after cash, could it???

Oh, darn, time ran out, and my higher area of 97.75 was missed as it only could get to 96.50 when they closed it. I guess it will have to hit that when it reopens in 15 minutes. Oh, well. I guess my read wasn't too bad? Amazing, to me, how it 'saw' the areas I mentioned on the way up, and how the trailing stop method turned this into a ride until close right at the highest area. Pretty cool stuff. Price action not looking real bearish just yet...

Now, generally, I try to be very positive and encouraging with my mentor students. But I do have to say, if you are a student of mine and didn't see the upward pressure, i.e. bias, off the low today both in the premarket and for that run up later in the RTH, as well as the clues and smaller setups it gave for that, I am going to be disappointed...

I know there are some things I ask not to be posted in here, so some of this can't be shown, and I'm not really asking for charts here, I just want to point something out. Today was quintessential KT methodology. If you didn't see it then you need to not only study this action from today, you need to figure out why you missed it. I think this is critical before moving forward. I have provided the tools to my mentor students such that they should have been able to see what happened today very clearly, in my opinion. There are times when things happen that can be very useful for self-assessment. Today was one of those days. Please use it.

Thanks for all the hints Jim - will study them carefully. I was not able to follow the market after my last post...

jim- it was a quintessential day.... at the turn before those classic, i was saying gorgeous to myself as i piled on...kane abcd's, both the TWM and the TZA HIT THE .886 ON OPENING GAP..... the TWM to the exact penny.....

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..