This coil will get unwound after Tuesday's meeting. The question is which way?

Time for a straddle??? Volatility is low, the price should be very reasonable, relatively speaking.

Good to see you back Jim!

Thanks. I may be real 'light' this week, though.

So, futures are...drum roll... way up. Sunday night, what a surprise. I'm not so sure we will have that incredibly set up 'sell the news' event this week. I think the Fed will say they are doing a trillion plus (I think they will expand the balance sheet to 10 trillion when all is said and done, or the currency/system completely collapses before it finishes), and the market will explode. April's high is going to go, as the all-time highs are. This market, in my opinion, is most likely to go up until the collapse of the entire system. Just a 'hunch'.

0.382 and 0.447 now at this area. I can not find a good pattern down tothis area but maybe a 1.902 in CD leg.






Mats

Kane TD ABCD, followed by a Trader's Dream.

Good Trading,

Al Kamego

I think that 82.25 is quite critical. If it doesn't turn this up to a new high, that's a big clue, especially the day before the election and two days before we get the $100 trilion QE announcement. The final push into the news. If it does rise, I am watching around 95.75 and 99.25, give or take, I have to see what unfolds as it rises to pinpoint it better. And if it drops from here, that would be curious.

First test on the way up passed:

What I think would be quite interesting is if it rolled down to the 81.25-81.75 area and formed a symmetrical 3D at a SL. This would still be within the range of this area I have at today's low.

But, keep an eye out for an inverted H&S from the Game Zone here as a possible nice basing formation.

And yes, the 'ideal' scenario for me is that they crush this to dust on the downside, but, I can't imagine why this would happen a day before the election. This is setting up as the mother of all 'sell the news' events, between the election and the Fed $5,000 trillion QE announcement, but will it really sell? And if it does, won't they just spend some of that taxpayer money and do that tens of thousands of quote stuffs per millisecond thing to just jam it right back up? I see no force on earth besides complete collapse that can bring this down...

... but the selling might already be done under the following scenario:

And the bulls win once again. They will win until the total collapse of the known financial system, in my opinion. Look at commodities. How huge increases in food, pump gas, building materials, etc. will help this recovery I just can't fathom. I think crude will take out the $147 high soon. I use the term 'soon' here in a relative way. Go back to the trend into $147, put that slope on it from here, and estimate the time. I think it will happen faster, but my conservative estimate is about that. But, this time $147 won't slow it down, in my opinion. Bern-quacke is getting exactly what he wants. Heads we lose, tails we die...