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

Well, I have little doubt the plan is to be at new all-time highs ASAP. We may be in a time period much like the late 90's in the NASDAQ and Internets. Look at PCLN, NFLX, TZOO, AAPL, AMZN, and so on. The Fed is getting its wish, total destruction of the dollar (my read is, and this is not a sarcasm, it will go to fully zero, and a new currency will be issued), and massive bubbles in stocks, foods for the average person, and oil/pump gas prices. I digress, but why strapping the middle and lower class with huge food prices and pump gas prices is going to help the economy, I just don't know. Like I said, get ready for worldwide starvation, as the process has now begun. Good for Bern-Quacke, at least the banks will make even bigger profits.

So, to address the question, it can be tricky because it may be relentless with few dips. I feel it can be done, but, it takes adjustment. That's why I attempt to trains traders to think, not to follow procedures. That way they can adapt as the market changes, as it always does. Use the same principles, but tailor them for current conditions. And in my opinion, current conditions say ES 10,000 is coming, and coming soon. Never forget at the time of its hyperinflation, Zimbabwe was the number one performing stock market in the world. Higher prices, less value per share. You'll all see...

It's difficult to draw lines when there are no corrections, but this small bullish ABCD may very well send it to the new high for the year:

On the higher timeframe I'm watching 1330 area next (although around 1250 may check it back a little, but somehow I doubt it). I have a time factor of around the beginning of Dec on that 1330 area.

May send it to a new high???

Originally posted by jarek

It's difficult to draw lines when there are no corrections, but this small bullish ABCD may very well send it to the new high for the year:

Click image for original size

And here's the dilemma with this kind of action. This is so overdue for a bigger pullback it's crazy, but will it? If one keeps playing the shallow corrections after such a run, it's easy to get in and have it drop hard shortly after. Yet if one doesn't play those shallow corrections, it may rise and rise and rise.

Originally posted by jarek

...this small bullish ABCD may very well send it to the new high for the year...

And yet it didn't ...

http://www.zerohedge.com/article/headlines-2008-zimbabwe-stock-exchange-soars-others-crash

I think this article, with as many comments below the article as you can stand, is a must read. I truly, truly believe it will be us much faster than any realize.

Watch the 4PT here, especially starting at that .685 point. This will be a big clue, and the bigger ABCD below if it drops there. Like I said, it is sooooo overdue for a bigger drop.

Originally posted by jarek

Originally posted by jarek

...this small bullish ABCD may very well send it to the new high for the year...

And yet it didn't ...

This time you were faster with this 4PT:

4PT zone fully hit and producing a sharp reaction. Let's see if that sends it up to another new high. I suspect so.

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...