Click image for original size
JA
jarek
Rep: 94
Posts: 3,474
So we have the continuation of grilling of the bears betting for the big W3 down. I don't think it already reached the point where all of them gave up, so there should be some fuel left for the further rise after these games in the Game Zone:
JI
jimkane
Rep: 3,058
Posts: 33,089
Just some comments along the lines of what I've been saying in my monthly commentary about political ramping before the election, and how it is done.
http://www.zerohedge.com/article/primary-dealers-prepare-invest-27-billion-fed-money-levered-30x-over-next-month-buy-high-bet
http://www.zerohedge.com/article/primary-dealers-prepare-invest-27-billion-fed-money-levered-30x-over-next-month-buy-high-bet
JI
jimkane
Rep: 3,058
Posts: 33,089
Okay, it looks like that 18.25 was it, for now. It tried for that 20-22 magnet, but didn't have quite enough juice. Still, it was a nice run and I can't complain about it one bit.
Recall back to my monthly commentary where I showed the inverted head and shoulders off the 1000 area, and how I thought it would make it to the neckline, where immense games would likely take place. It is now getting into that area. Get ready for some serious action in here. Major possibilities, in my view:
-Roll over hard in here.
-Up and over, backtest, and take off until November, just what everyone expects.
-Up and over, trapping everyone, and then down hard, killing them all, and leaving the shorts out of it since they covered on the neckline breakout.
-The last one, but then they start the ramp again for the up until November thing, after getting new shorts sucked in and stopping every last bull out. Multiple whipsaws until everyone is caught repeatedly and they finally completely capitulate.
I think number four is the most likely by far. We'll see.
Recall back to my monthly commentary where I showed the inverted head and shoulders off the 1000 area, and how I thought it would make it to the neckline, where immense games would likely take place. It is now getting into that area. Get ready for some serious action in here. Major possibilities, in my view:
-Roll over hard in here.
-Up and over, backtest, and take off until November, just what everyone expects.
-Up and over, trapping everyone, and then down hard, killing them all, and leaving the shorts out of it since they covered on the neckline breakout.
-The last one, but then they start the ramp again for the up until November thing, after getting new shorts sucked in and stopping every last bull out. Multiple whipsaws until everyone is caught repeatedly and they finally completely capitulate.
I think number four is the most likely by far. We'll see.
JA
jarek
Rep: 94
Posts: 3,474
For the 5th day in a row price is oscillating around the ML of our upsloping set:
Click image for original size
JA
jarek
Rep: 94
Posts: 3,474
Based on Roofer's set there should be still some more downside to come:
Click image for original size
JA
jarek
Rep: 94
Posts: 3,474
Finally there is a pattern today - a bearish zigzag ABCD:
Potential break to the upside coupled with not reaching the line from a green set should be quite bullish
Click image for original size
Potential break to the upside coupled with not reaching the line from a green set should be quite bullish
JA
jarek
Rep: 94
Posts: 3,474
Originally posted by jarek
... should be quite bullish
And yet the 'Game Zone' together with the green set upper ML were good enough to reverse it:
Click image for original size
JA
jarek
Rep: 94
Posts: 3,474
Today's LOD could very well mark a D point of a bullish .382 zigzag ABCD:
Potential failure of this ABCD would also trigger the H&S pattern which had been forming for the last couple of days, so bulls should do everything to defend it.
Click image for original size
Potential failure of this ABCD would also trigger the H&S pattern which had been forming for the last couple of days, so bulls should do everything to defend it.
