ES clearly likes to close at a key area as Jim pointed out many times recently:




Friday's breakout after a trendline creep was rather unconvincing and the green set could be still in force. However the journey to its downsloping ML would be rather uncommon taking into account the time of the year...

Multiple tests and about 20 minutes of consolidating there, and up it goes. But, will it sustain, or is that just the obligatory bounce off a .300/.382 overlap at several lines? We shall see very shortly, I think (well, maybe not 'shortly', this market is moving like a snail).

Originally posted by jimkane

...Maybe that 42.25 there was it...

Another close right at a critical area???

Thought everyone might get a kick out of this review of my books from someone who stole them. Didn't even buy them, and thinks this little of them. How nice. I'm glad there are a few in here who understand just how profound what I've discovered is...

http://www.traderszone.com/system-reviews/3081-short-review-jim-kane-books.html

jim - it pains me to read such drivel... but again, in struggling with my students and in getting a handle on my own trading i have come to think that no one can teach another this geometry... all we can do is say'' here is what has value to me...if you think it might have value to you.. then go to your charts,SEE IF YOU CAN SEE WHAT I SEE IN REAL TIME.. collect AT LEAST a thousand examples of the setup, study them and memorize them... make it your own.. then you will see if it has value to you......''i have over 3 thousand examples of 6 different setups..... i KNOW what i think about each one.....

Thanks for the comments, roofer. I've never really been more discouraged in my life, about the KT project, and about humankind in general...

And there's yet another new high for the 'bulls#%&' market. What a shocker.

Originally posted by jimkane

Thanks for the comments, roofer. I've never really been more discouraged in my life, about the KT project, and about humankind in general...

Well .. if 800/900 dollars is big investment for him that tells us a lot about his trading skills :) No wonder he cannot use this stuff. Or I bet he cannot use anything to make a dollar in the market.

Good point, tomo. I once had a lady beg me to sell her just one book instead of the set. Sending her to my FAQ explaining why I don't do that didn't deter her. She said all she could afford was one book. I sugggested that perhaps she wasn't properly capitalized for trading if all she could afford was one book. She wents nuts on me. After tearing me a new one she left it such that I never contact her again under any circumstances, not even leaving me the option to address what she said (which was probably a good thing, as it ended the communication...). Some people. It takes all kinds to make a world. But, over time, you get tired of dealing with it.

Another significant new high for the 'bulls#%&" market. I'm shocked. I wonder if a few big days are going to happen to get this to 1330 before year end? 80 more points in 7 trading days. Probably not quite that far, but you never know.

It's also a high for the move for DBC. Look at that setup at a .382/.447 and key line area just over 24. Nice little swing trade. Cotton, copper, sugar, and so on just on fire.

AMZN another new all-time high, although nominal. AAPL hanging around the highs, looking like it is consolidating for a big pop up.

Just a few updates on some setups I've mentioned recently.

AMZN just announced that kindle sales will far exceed previous estimates. Getting a nice little intraday pop on that one to another new all-time high. Still in play off that ABCD setup on 11/16. Notice the smaller, choppy near flat ABCD this last leg launched off of.

Okay, another spot on read. Made it up to 53.25 so far, right back to the price flow. Not a claim, but an observation supported by posts in here: made the read going down, made the read for the terminus, made the read for the long side. Not bad, epsecially for a crap action day and the S&P at a 17-year narrow range.