Here is the longer term bearish 4PT we've been talking about lately:




Both breaking it to the upside and respecting it should result in a strong and sustained move in the given direction

87.00 it was...

And right back to the TL and set line area and down. Very nice. It just hit the 1.000 ABCD spot. Will that turn it? Or is this a 'W3' on the way down? That old greenback is looking stronger... I'm 'hoping' for the dump.

At the 1.272 ABCD and Game Zone. Now we see. That downside sure is looking better in here. All I can do is 'hope' that it keeps moving down. (I'm playing around with everyone, of course, with my 'hope' comments. Short-term 'intraday' here I'm short side bias off that 'retest' of the lines. That may change fast though, as this thing is flip-flopping like a stranded fish on the beach.)

Amazing how that stopped it dead. We see this all the time, and I comment on it in here frequently. No matter what it does from here, it never ceases to amaze me how that happens like that.

i hope you guys are staying up all night.....i'm going to bed.food for thought

I won't stay up all night, but I'll surely be up late. I'm lucky, in that I'm on the west coast, so late (the time log for this forum is in east coast time, so I'm posting three hours earlier than the time stamp says) isn't quite as late for me.

Well, you all know how I pounded the table on the long AMZN setup. Look at the daily pattern. It's now reached the main area of interest, and look what roofer's work shows. It played out to a 'T' for me, and now we see if it likes the first primary area, or not. If the premise of a dumping market is going to play out, what better way could be found than for an AMZN long play to hit a key area (this is also a pattern my mentor students should recognize) and then reverse. We shall see. Talk about a fun market, wow.

1.272 ABCD at 84 goosed it up 4.25 points so far. Line to line, area to area, just incredible.

Notice crude, which came off its area and just smoked to a new high for the session.

6.50 points off that 84, right back to the same TL's, now 'tested' twice. Boy, is this good action for GLOBEX. Wow.

If those TL's give way this may have some upside potential. Can't wait to see if it rolls off them or bursts through.

Bulls may still get out of trouble if they defend this .786 bullish ABCD (or .886 one little lower) as a correction of the Nov 23 - Nov 25 rise:




Failure to do so would validate the move off the bigger bearish 4PT.

3D right into the heart of the .886 bullish ABCD area. Bulls simply have to keep this low:

Last thought to better explain the above. Here's what the conventional thinking is. Crude and the comms start to rise. Pump gas rises and all this puts a big crimp in the economy, and the prices drop due to the dropping demand of a weakening economy. Crude can never get to $200 (or $1,000) because demand will drop tremendously way before then. Now, here's what the conventional thinkers are missing.

Money printing causes a repricing of comms higher, and the excess cash flows into hard assets, giving the double whammy to the rise. Once this trickles down (and pump gas and grocery shelf food prices are the two biggest ways I feel this kills the average American), the economy will slow rapidly. The FED will respond with more money printing, which not only steals whatever tiny little bit is left of your cash savings, it will reprice the comms higher, and feed excess cash into hard assets, with even more vigor, as the debasement is obvious. Demand drops, and prices rocket higher.

This is the acceleration phase of hyperinflation. Wages don't keep up, savings are destroyed, the economy gets a lot worse, and the FED prints more money. The loop is complete, and it feeds on itself. This is what has begun, in my opinion, and nothing in heaven or on earth can stop it. It reminds me of an old TV commercial, which showed a guy on a merry-go-round type thing, and he was saying 'I have to work longer, to make more money, to buy more cocaine, so I can work longer, to make more money, so I can...' faster and faster, until he eventually explodes I would guess.

That's our system right now, and they've gone too far to stop it, change it, or ever admit they were wrong. They are going to blow us all up, and we are all going to stand by and watch. Mark my words. And although this is just one man's opinion and nothing more, you know my track record on reading things...

Have a great weekend.