Looks like no economic news can stop the bulls these days. It would have to be something much, much bigger, but also then they may use it just as another buying opportunity on the way up.
For now let's see how they cope with some little overhead resistance somewhere at current levels:

who knows?things happen at the strangest times

Great stuff, guys.

fyi-traders are probably wondering what i am thinking... i am not thinking end of bull market....i am thinking possible shock to market that will cause larger abcd's to form.... what is especially curious to me is how many of my long term stock charts are already sitting on bearish .886's on gaps with the geometry of the medianline sets giving completed abcd's of a larger degree...is it possible they will all fail?of course. probable? we shall see.

some recent shorts in the bull...i had been short nem also based on .886 but covered...

AAPL new all-time high. Silver over $30, a 30-year high. Gold about $2 from a new all-time high. Crude basis Feb over $90. And the dollar up when this is happening. Is that it, the final blowoff? It must go down in here, right?

The ES looks like it wants to do a repeat of Friday and break to the upside out of this 'congestion'. Crude looks like it may be triggering off its ABCD. Gold, it looks ready to start up again. We'll see.

Originally posted by jimkane

...Is that it, the final blowoff? ...

We had an interesting development on our local stock exchange today. 15 minutes before the close it started rising like crazy despite other markets remaining unchanged. This is rather strange since the correlation with other markets is usually pretty strong. It closed right at short term and longer term geometry:





Looks to me like classic climax move to geometry or in other words rush to the dance floor before the music starts...

Very curious, jarek.

CL finally moving up now. ES just sitting one tick from the RTH HOD. I expect it to explode any time soon. But maybe they will all fail in here. Nonetheless, I'm waiting on the upside moves.

What is with the last two trading days... what junk.

We should know something soon. Crude (basis Feb, although Jan is still the front month) is back up, as expected, to just pennies under $90, gold did jump, over eight bucks off the recent little low, and the ES is still sitting a tick under the RTH HOD, and they all just backed off a bit in what looked like a little sell program there. Now we see. Is that the pullback for the launch, or the start of a down move? If they can't keep it strong here, they may have serious trouble.

You all know I suspect up...

It had to get one tick higher! That also got it to the exact 1.272 at 36.20 on that ABCD. So, we got a weekly close essentially at the high tick for the week, the month so far, and the entire 'bulls#$&' market. Those poor bears, still trying to call the top. For me, I'll just keep creating 'ride the long' plays.

It's the bulls time in the sun. I'm not going to fight that. I just saw in a Bloomberg survey not one single analyst was bearish on next year. 100% bulls! I'm seeing 'breakout' and acceleration calls everywhere. Sentiment is extreme for the bulls. It can get more extreme, or stay extreme for a long time. The $VIX is dragging on the lows, but can get lower.

Midcaps one good trading day from new all-time highs. Russell, Transports, etc. right behind Midcaps. The entire drop from the crisis erased, new all-time highs. Unreal. It's the bulls time to shine. Let them enjoy it, as it won't last. The bears will shine again, just not today. Goin' with the flowin'...