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JA
jarek
Rep: 94
Posts: 3,474
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:


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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
JI
jimkane
Rep: 3,058
Posts: 33,089
I wouldn't fight the trend, and the trend is up. Besides, look at the RTH and that 4PT on that.
JI
jimkane
Rep: 3,058
Posts: 33,089
Don't get me wrong here, this is a very, very key area right here, and may send it down for a much bigger correction. I'm just saying if I want to even think about calling that a top, with all this upward pressure, my setup would have to be near perfect, and not 'stretched' at all (stretched meaning past a 1.272 ABCD, or just overall less than near perfect).
JI
jimkane
Rep: 3,058
Posts: 33,089
This GLOBEX high area here at 4 is important. Any move past that implies acceleration and trending for the remainder of today in many cases, based on my work. I don't mean taking out the GLOBEX high indicates that, taking out 4 here does, and that is also the GLOBEX high in this case, potentially adding further fuel to that fire.
JI
jimkane
Rep: 3,058
Posts: 33,089
3-Drives...
JA
jarek
Rep: 94
Posts: 3,474
Yes - very clear
JA
jarek
Rep: 94
Posts: 3,474
I only wonder why this is such a key area for you. Is it because of this Globex high? I could find just one set supporting it ...


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JI
jimkane
Rep: 3,058
Posts: 33,089
100% IB, and how it acted to get there.
JA
jarek
Rep: 94
Posts: 3,474
This is almost too good to be true:



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JI
jimkane
Rep: 3,058
Posts: 33,089
Watch the 4PT here. They want new highs, and that trend acceleration...
JI
jimkane
Rep: 3,058
Posts: 33,089
Pretty straightforward manipulation up right off areas, in my opinion. I'm just waiting on 1,400. Not that anything happens at 1,400 except maybe a 2 point pullback, but at least we'd get that, then up to new all-time highs. Of course the $RUT, $MID, $TRAN, $RLX et al are very close now already.
RO
roofer
Rep: 3,689
Posts: 3,574
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..
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