This one-way market is already becoming boring. I'm more and more inclined to the following long term view:



The only question mark in such scenario would be whether it was already end of .382 W2 at July lows or if it still needs some more downside to conclude (and form a Flat or TD ABCD).
I agree with Jim that longer term all the permabears are going to be rather unpleasantly surprised.

With ES being so pathetic today I'm watching this KZ DB ABCD in Gold:

and i thought last week was nuts....

I've never seen anything like this, nor anything remotely close to the level of disconnect we are seeing. I thought the disconnect in the past was bad, this is on a whole 'nother plane. It strikes me as the type of thing one would see before a major change/shakeup/end of empire.

And yes, I'm taking that 2-tick new HOD and retest very seriously.

call me a sick delusional puppy... but i am short... charts after close

That's what I meant with my comment above yours, roofer, I'm intraday 'short side bias' off that retest. But this key TL here at 39 will be the deciding point, I think (do they pick it up here or let it go).

Watch this TL area closely...

Yaaaaaaayyyyyyy!

Originally posted by jimkane

Watch this TL area closely...

will the big dog bark.... or puke on the rug?

Watching the next TL and Fib area around 36-36.50, but wondering why 37.50 is so 'sticky' here...

Probably just some OpEx thing.