Here are my lines for today:

Originally posted by jimkane

... So, it hits 64.25 and explodes straight up eight points. I mean, I love it, but seriously, how stupid...

Well, it isn't a classic 3D, but I've been studying various 'alternate' 3D structures, where the bounces go to vaying levels, and they seem to also have technical significance. The thing about spike lines, as roofer has shown, is that he uses candle bodies, not wicks. So, for example, on a 5-min ES chart a line drawn from the first drive to the third drive doesn't go through any candle bodies of drive 2, hence a valid spike line. Not all spike lines are always drawn from point 1 to point 2, as you can see in many of roofer's charts.

So, I do consider this spike line drawn like that as a valid 'price flow'. My point was, I felt, based on the weak reaction, that this needed another 'test' of that low, and preferably a lower low. That was the key factor I was looking for. Now we see if they just need a little bounce here to kill this more, or if the calls I staged are going to do well tomorrow.

Thanks for another great day. Tomorrow I'm out - good trading!

There is an insane set on the downsloping price action on say a 120-min all-sessions, and the lower // hit the LOD on my chart to the tick. This is also exactly the same as a spike line. That's why the little overshoot on the key upsloping set was expected. But, I want to say, even though this is a classic spot for a reversal to the upside, and Carl Futia is calling for exactly that, and the market did finally react with a burst up, I am very, very wary on the call side. I think we may have a sea change. Maybe not, but I am open to it.

If the dollar carry unwinds and the Euro keeps tanking (recall we are very near key areas for them right now, at least for a temporary direction change), all bets are off, the sea change is here. Point is, this may bounce a bit and then roll hard, or it may not even bounce, if this is a 'W3' type move. I'm just not as convinced as usual that this time it's going to rocket up. Let's see what command the money printing mafia gives tonight...

Here is the last update of the chart of the day with that insane set which caught pretty exactly the whole drop from 1202 yesterday to today's LOD. The low was right at .300 of Feb-Apr rise almost to the tick. We can also see that overshot of the upsloping set at point D was almost equal to undershot at point A:

Great chart, jarek, that's the one. Now you can see the sanity of my comment, and the insanity of a market that wouldn't drop off that. Like I said, it was just looking for any news item as an excuse to fulfill that geometry. I really wish I would have posted that comment last night, but as much as I have been all over the moves lately, even I didn't dare say out loud to expect an almost 40 point drop by tomorrow! Got to love the geometry, and the timing factors it can bring with it.

Originally posted by jimkane

...In other words, in my humble opinion, it will be full bull until the apocalypse, with a transition period of about five nanoseconds.

Originally posted by roofer

hahaha!or as the kids say lol....jim that last sentence was a classic!

Thanks, roofer, I thought it was pretty funny when I wrote it.

though the stop was wide, the r/r was 9/1... looking to exit at ml

Where the heck is everyone?

Although I think my next big area at 1115 as shown in the monthly commentary wants to be a magnet, I am thinking the LOD we just put in may run this up quite a bit. We'll see. I'll be looking at the 3-min EXP ABCD it would form in here shortly, from here to up a bit, to see if the sellers are gone. Maybe they aren't. But with the selling so relentless, it is going to need a bounce at some point. Understand, though, when every last person is on the bull side of the boat, once something gets started, it can really go without a 'healthy' bounce, so be aware of that, too.

Jim and George - thank you for the compliments. Your efforts here have always been a real inspiration for me