The overnight drop could be seen as CD leg of a KZ ABCD right to the lower ML of our upsloping set:

Gold retesting downsloping lines here:




Crude still on its way to upper MLs:




In Bonds last low simply has to hold if bulls want a good finish of the year:

What an exciting day again! Is this going to a complete halt one day?

Maybe the bullish ABCD from ES chart above doesn't look good, but the upsloping set still holds the price action very well. Note the continuous tests of this lower ML:

Great charts, jarek.

All I know is until all that extreme sentiment kicks in (likely with a sharp, deep, less than one day correction), my bias is completely, utterly, and totally 'up'. Buy every dip is the motto. Same old, same old. Ride until close. I'll be back at 16:14:59.

And sure, there is a potential bearish 'W2' DB ABCD here at a key line and .786, and right back to the key lines it broke down through for a sweet backtest (also note the potential B point was an extensive retest of these lines, too). But will it turn this down from the 'bulls#%&' market high? I strongly doubt it. I'll watch closely here, but I'm not fighting the trend.

As is frequently the case in my experience, the area stopped it dead. But, as is also my experience, only for now. Then up and over it goes. We'll see. All I can say is I'm not looking to bet against new highs for the 'bulls#%&' market into year end...

Very curious to see the ZN just about exploding up, and the ES rising, too. Notice the bearish 30-min ABCD in ZN. 'Wave 3'?

There's a new 'hot stock' out there. It's really been smokin' lately. I'm thinking of buying a lot of it for my retirement account. I really believe in the company. It's got a great business model, and it's making tons of profit. It's also a very moral and ethical company, and that's important to me. I don't like to mess with any companies where I can't get behind how they make there money. If the little guy on the street gets hurt by what they do, I steer clear. Take a look at the chart, it's on fire, and I suspect it's barely getting started. You know how it is once the mo-mo quants start to dogpile into something. The ticker? AIG.

<sarcasm off>

The sentiment extremes just keep getting more and more extreme:

http://www.zerohedge.com/article/time-different

ES 1 point range for over an hour. Most of that time spent in a 3/4 point range. Nice trading. Welcome to the future, of no range, then a government burst out of the blue, then nothing. I hope not.

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz. Get ready, the next burst should be any second... To the upside, of course.

Look at that ES finish!!! Drops like on rock on volume, they come right in for it, and they gun it up on massive volume to take out the key downtrendling TL, the HOD, the GLOBEX high, yesterday's high, and the previous GLOBEX session, all in one shot, to close it on the high tick! And they do all that with a total range for the day, including GLOBEX, of just 8.25 points!