For now let's see how they cope with some little overhead resistance somewhere at current levels:
Click image for original size
Click image for original size
JA
jarek
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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:
For now let's see how they cope with some little overhead resistance somewhere at current levels:
JI
jimkane
Rep: 3,058
Posts: 33,089
Treasury budget in 5 mins. ZN still bleeding like a stuck pig. Amazing.
JI
jimkane
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Posts: 33,089
Yes, jarek. Can't trade below 25.50 by Elliott rules. Started to bounce at 26.00. But is that really going to stop this? I'm thinking no.
JA
jarek
Rep: 94
Posts: 3,474
Originally posted by jimkane
... Can't trade below 25.50 by Elliott rules...
What rule is this?
JI
jimkane
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Posts: 33,089
W4 can't trade into W1.
So, we have a full ABCD here at lines, trading one tick into W4. This is it. Now or never for the bulls. In reality, it could easily trade into the middle of all that congestion and then go up, but by Elliott and that layout, this is it.
So, we have a full ABCD here at lines, trading one tick into W4. This is it. Now or never for the bulls. In reality, it could easily trade into the middle of all that congestion and then go up, but by Elliott and that layout, this is it.
JA
jarek
Rep: 94
Posts: 3,474
Just a checkback of the broken TL at .300 off that 1.000 ABCD:
Click image for original size
RO
roofer
Rep: 3,689
Posts: 3,574
the computers are so freaking good.... if you were not watching the cash, you would not have seen .886 on gap on 5.
JI
jimkane
Rep: 3,058
Posts: 33,089
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'...
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'...