The question is: was this already it, 1 day and 9 points away from our perfect 'symmetrical' target or yet it needs to reach the 1.000 ABCD regardless of the time factor:





This 3D at spike line might suggest the former, but if it breaks to the upside it might break the whole ABCD as well and go up, up and away as per Jim's scenario

Ah, I though everyone saw that. I didn't realize until now when I read this post that perhaps maybe many didn't... And it 'fulfilled' itself, just as I suspected.

Originally posted by jarek

The high so far is 37.50 - right in your range. I was so concentrated on the top being in, that I have completely omited this big bullish 0.786 ABCD, you are basing your scenario on:

Click image for original size

Lots of clues coming from how it plays out

And there's my 56... As I mentioned, it wasn't done yet, and has now hit a new HOD.

I would say now is the time I am feeling extreme caution...

http://www.zerohedge.com/article/stocks-gold-down-latest-stock-ramp-again-fails-offset-purchasing-power-loss

Read, especially, the first paragraph, to see what is really happening with 'stocks'. Price may be going up, but 'value', the purchasing power per share, is actually dropping. But, it can be said, at least it is dropping less than holding cash.

Okay, I think we are about to burst up in the final thrust for the day. I'm not quite sure of the odds for a huge burst and run, or just a final, average thrust like the ones we've just had.

I'm not saying in any way, shape or form that I think we then go down. It does give us that last push into jarek's primo area, the big 'W2' ABCD at a super-key line, but you know how much I think that is going to count for? Take both your hands, palms up, spit in one hand and take the super-great setup in the other, and see which weighs more. This market is going to go up until the election, and likely until way after that, in my opinion.

As the dollar collapses, the market will reprice in new $ terms. In my opinion, that is going to be S&P over 10,000. And no, I'm not joking. We'll see. Maybe it does something here, and I'll surely play the technicals, but my bias is now S&P 10,000 (which will buy you less per share at that price than you can buy now with a share, higher price, lower value...). Just some opinions, nothing more. Long live QE2-QE1,000,000.

Okay, while I was typing that rant it started to react to the 'small' last push option. But will it sustain at all, or will they just come right back in on this little dip? I'll just watch and react. It needs to come back in, especially after hitting 57 (Hmmm, heard that number anywhere?), but they may simply not let it. Will technicals prevail over monetization in here? At least temporarily???

Gold 1342.60, silver 22.92, copper a monster, tin an all-time high, platinum up over 30, all the grains up huge. I feel bad for all those that are going to starve, just like the last commodity run. This time, I think, they'll run much higher, and the starvation will be much deeper. Let's hope I'm wrong. I think only one thing can stop it. Stronger paper currencies. That means they don't do QE2, they stop monetizing, they raise rates consistently, and stop competitive devaluation of currencies (the 'currency war'), and so on. What do you think the chances of this all happening are??? All those poor, poor people...

58 and looking strong. I think this may run until close. Up 30.50 from yesterday's LOD. Recall I said it may go up +30 off that LOD, and do it today. It did. Just incredible. And very, very predictable.

58.75... and another small checkback. Just look at how the move off the ABCD jarek showed for me completed to a 'T', right at jarek's much bigger 'W2' ABCD. What a cool coincidence. Is this going to be the rollover here? That's a bit of anticipating, since something as huge as that potential 'W2' would need quite a large trigger, and would look very big on the intraday timeframe. But, likely this is just another little dip on the way up, right?

Nah, this isn't acting like a 'W2' at all in here, is it???

http://www.zerohedge.com/article/insider-selling-buying-2341-1

Too frickin' funny

Originally posted by jarek

Yep - very interesting finish to what looked like yet another day from "Reminiscences of a Grilled Bear"