The developments of the last 2 trading days make me consider the whole rise from the post crash bottom to the last week's high as a W2 Kane ABCD:





Timewise it doesn't look good because it rarely happens in a zigzag that CD leg lasts 80 times longer that AB leg. But if it comes to proportions - it's almost perfect: AB and CD legs are nearly equal and whole ABCD retraces between .685 and .786 of the preceding leg down from the top.

Initially I thought that whole zigzag should finish at May 11th high. Now I see that high as a C point of a W4 correction in the CD leg:





The behaviour of the market in the next couple of days should help us jugde whether this interpretation is correct. This is rather important because in such case we should expect a drop to at least 1020 (1.272 external retracement of the ABCD) and probably much lower if W3 down has just started.

So, will this react like when the U.S. banned short selling, with a pop and then absolute destruction? Why are they engaging the 'speculators'? What news do they have to announce? What are they afraid of? What do they know?

It found some support at the 1.272 of the .447 ABCD and line. But will it last?

Originally posted by jimkane

Get your gold, step right up, folks, and get your gold :-)

I meant for the portfolio, not to necessarily trade this minute. And it's just a joke based on the insane mistakes they keep making, it's not a recommendation.

Sure looks like a big 3D on the 3-min...

i have covered ALL my trades.... done for day....

Originally posted by jimkane

Sure looks like a big 3D on the 3-min...

Wasn't the rise from yesterday's low to today's high an even bigger 3D up?

Yes, jarek.

Now, the question I have is, do they dump this now to new lows since we have our 'W2' in place, or do they run it to 60 +/- about 2, to complete a bigger, deeper ABCD? It shouldn't need the latter, but you never know. I'm playing this as though the bottom may fall out any second...

Looks like 1.272 ABCD is the name of the game for today:

Now I hear only naked shorting will be banned in Germany. You mean naked short selling is okay right now??? I thought it was banned everywhere. It was okay? That is insane.

Again it was good for just a move to exactly 1.272 of it:





What a repetitive pattern!

I suspect a big run up in GLOBEX and a huge gap up over that line. We'll see. The weekends are getting longer and longer as the inevitable blowup gets closer.