Together with Jim I'm in the inflation camp now and believe that March 2009 - April 2010 rise was the W1 of the new multiyear bull market. The question is: can it move up from here with no looking back or it needs to "refuel" before commencing W3 up in earnest?
From what I see on various blogs and sites there are still many W3 down callers despite yesterday's taking out of August top by SPX. The chances are high that many others will join them soon if the market starts to fall impulsively from here in the following scenario:




At the end of such bullish ABCD the market should be ready for a major move up. Especially that those W3 down callers would be allowed to hang on for many more months to come if the most probable scenario developes:




Could you imagine the amount of fuel they could provide in such scenario?

After clearly rejecting the H&S pattern price is knocking back to the recently left channel. The Schiff upper ML is also here so will it be good for more than 2 points checkback?

Originally posted by jimkane

New low by a tick. Explosion up now?

Now up 26.25 points at the high from that one-tick low, basically straight up. Same old, same old with these characters...

Originally posted by jarek

Is there any force on this Earth that can stop bulls?? Looks like Jim might be right with his call of up September, up October, up November and so on and so forth...

Well, my immediate thought to your question is 'No'. But, there are lots of forces on earth that can crush this thing, but they have to be applied. An overnight sovereign default, a failed bond auction, an act of war on Iran, a terrorist attack, and so on. But it would take something like that. No matter how bad the data is, that simply won't matter, as no one cares. This is just machine generated.

There has been massive mutual fund outflows since the Flash Crash, every single week. Hedge funds are closing like crazy and those that remain are refunding money in huge amounts. The market is rising on lower and lower volume, with money net flowing out all told. Theoretically that would be impossible, but not with rigged quote stuffing and so on. This thing very well may see S&P 175 or 350-400, as many say, but I think that will happen when the system collapses, and that may happen from S&P 2,000 (or maybe 4,000, as the USD collapses first?).

For me, the 'Trade of the Day' happened just after 6 AM, an ABCD at a .447, at a key line, which might have been viewed as part of a bigger TD ABCD. Essentially staight up over 20 points... It doesn't get any better than that, in my opinion.

This is a climax 3D into the Schiff upper ML to the tick. If this doesn't result in more than 2 points pullback than what else could?

Okay, it's back 2 points. It can now turn and go up another 20 points without a rest. C'mon, let's go.

Originally posted by jimkane

For me, the 'Trade of the Day' happened just after 6 AM, an ABCD at a .447, at a key line...

Here is this trade in retrospection:

Did everyone see this went two ticks over the recent high? I wouldn't bet on the same thing happening this time around...

Originally posted by jimkane

Okay, it's back 2 points. It can now turn and go up another 20 points without a rest. C'mon, let's go.

Originally posted by jarek

Originally posted by jimkane

For me, the 'Trade of the Day' happened just after 6 AM, an ABCD at a .447, at a key line...

Here is this trade in retrospection:

Click image for original size

That's the one. I also have a set over that previous move (a modified Schiff works great for this), but it is redundant, in that both are moving from that division line to the lower //. Now, that's one pretty setup.

Right back to the line. Totally not able to handle that area. Very surprising.