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.

Originally posted by jarek

Sweet bearish KZ ABCD in ZN...

It wasn't it but the situation is very interesting. There is a big bullish 3D at a spike line. If all the bounce off it was this small ABCD at the green line - that would be very telling:

I'm looking at a big ABCD in gold at just around 1350 (the 1.000 is at 48.50, and the lines are pretty close to that, too). This is also an obvious TL area, so that concerns me, though. It would interestingly correspond to roofer's post on DBC going down to form an ABCD.

The problem I have is that I just don't see copper dropping down substantially, given one player (JPM by all accounts) has cornered the market with 90% of the LME holdings, or crude, or sugar, etc. I could see some things dropping, though. Maybe that's why it might only drop back to an ABCD and not run away to the downside.

Now, I'd really like to see gold do a big drop to 1,000, but that is based solely on a wish for a much better opportunity for people to buy, not the technical likelihood. My next technical levels for gold are around 1312-16, 1275, and 1214, give or take.

I have this DB ABCD on my Gold chart:

GZ at line and the turn is almost certain these days:

How funny, jarek, I was going to mention the DB ABCD that may be a BC leg of that potential gold ABCD (if gold actually gets down to 1350, a big if), and I decided to refresh first, and you did a chart on it.

is anyone else recording and thinking about the time of day game that has been going on?

please remember the obvious.... the .886 on gap on 5 REQUIRES A GAP!... a student just got whacked be cause he thought he saw a gap when there was none....

Respecting KZ at lines suggests that this drop may still have some legs:

Originally posted by roofer

is anyone else recording and thinking about the time of day game that has been going on?

What game are you referring to?

Originally posted by jarek

Respecting KZ at lines suggests that this drop may still have some legs...

... but just to the green line again - looks like this ping-pong match is not over yet :



But the fact is that our DT ABCD has already been taken out

Probably just some OpEx thing.