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    JA
    jarek
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    (Edited )
    Here is an interesting story. While writing the topic above I was thinking about what chart to show this weekend. Then I noticed that the second date is a palindrome or in some way it is 'symmetrical'. Then I recalled Jim saying that sometimes ABCDs like to be symmetrical around certain point. Then I started digging and ended up with the following chart:


    Click image for original size



    We may see that the BC leg of our current bearish ABCD, which was an ABCD itself was perfectly centered both in price and in time around its 'hub of the wheel' point on August 17th at around 1082 level.
    To share the same characteristic the big ABCD should end on September 29th at around 1162 level. What's more interesting - this point is pretty well justified geometrically. Very curious.
    JA
    jarek
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    Looks like no time for games in the 'Game Zone' this time around:


    Click image for original size
    JI
    jimkane
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    LOD to the tick... C'mon, flush. To heck with those algos and the PPT.
    JI
    jimkane
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    Originally posted by jarek

    Looks like no time for games in the 'Game Zone' this time around:


    Click image for original size


    Yes, that's why I am holding hope for a last minute flush to the 1.272 or beyond.
    JI
    jimkane
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    (Edited )
    New LOD by one tick. I'm ready for an explosion... Hopefully it will act like a free market for a little while...
    JI
    jimkane
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    If it can get past the 1.272 at 36.66, my next area centers around 35.50.
    JI
    jimkane
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    Wow, a 'real' market? Just staying short side bias here, giving it room to breathe. So, how does my note on the short side off that 'trap' look now??? See the sense in that detailed reasoning I laid out?
    JI
    jimkane
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    1.272 hit within about a tick. Careful. Can't wait to see what happens in after cash.
    JI
    jimkane
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    Gimme my 35.50, baby.
    JI
    jimkane
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    (Edited )
    Look at that!!!!!!!!! The closing bell rings, and they just explode it off that 1.272 area. 2.25 points in a flash. But, let's see what the after cash does. For my style, almost everything would be scaled out at this point, with maybe a very small percentage riding to see if they do another after cash leg.
    AL
    albert
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    Just got back from vacation last night.

    Elegant charts & analysis, Jarek.

    Amazing market reads & analysis, Jim.

    Al Kamego
    JA
    jarek
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    Thanks Jim. Have a good weekend!