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

Originally posted by jimkane

Well, they got to 5.75 on that push to my 7.50 area. Same as yesterday, they fell a tad bit short of my highest area. Overall, still pretty cool action, with lots of ABCD's to work with. Nice charts today, guys.

ES hits 7.75 on the open!

So here comes our area. But will it able to reverse this relentless upward march?

AAPL just knocks the cover off the ball with earnings. Better than the best expectations. Truly surreal they are so great. Stock is halted right now. Where does it open? 275???

I think the uptrend is intact, jarek, and new highs will be coming soon. I am just looking at areas for management of short-term and intraday setups. Pretty cool, a one-day correction and right back to new highs...

And this is why this area is so important:

Originally posted by jimkane

I think the uptrend is intact, jarek, and new highs will be coming soon. I am just looking at areas for management of short-term and intraday setups. Pretty cool, a one-day correction and right back to new highs...

That may very well be the case. Bear case looks hopeless at the moment...

AAPL 265? That's it? Tomorrow they'll really run it I think. Maybe 300 soon.

8.50. Now 2 points from a new 'bull' market high. Yep, a one day correction, that's all this can do. Got to love it. Futures rising strongly after a little dip there, so it looks like the new high should come shortly. 1219 next? Funny how many people have been talking 1219 (albeit on the cash), and that happens to be the 1.272 ext ret of this last 'correction'. Like my chart of the month on the site showed, 1,400 by May-July is very possible if reality or all these insanely overblown sentiment readings or disaster don't take hold before that.

9.50 so far, but now coming in a bit...

And there's the pullback to a .186 and .300 convergence with my lines hitting right there, and up it goes. How obvious. These guys are funny.

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..