In the final hours or even minutes of 2010 trading the bulls proved one more time who was really in power last year:

I wonder whether this setup in Crude could be deemed as double barrel shotgun despite the middle pivot being slightly off the red line:

If bonds overcome this line convergence then the bullish EXP ABCD below should play out nicely:

Only roofer can say, but for me, my use of overlapping 1.272's and a SL, I'd anchor the SL to the second swing-high, and call the third high a slight overshoot, and I'd find the information useful. But, alas, would I fight against crude for very long in here? Probably not.

As an aside, one which I think has well more than a hundred million to one odds against it, wouldn't it be cool if this big pop on day one was the end of the bull?

Originally posted by jimkane

... wouldn't it be cool if this big pop on day one was the end of the bull?

Here is an interesting comparison table prepared by Citicorp:

Yeah, that's why I said it. Well, not because I had seen that exact table, but because I was aware that it has happened many times before. It won't happen now, not until we get at least to 1,600 with no break of any kind and no more than a two point pullback, but it is an interesting thing to think about, because of how many people it would fool.

Now, this should go back to at least 63, but I just don't see it. I suspect this low here at 67.50, that's all they'll let it come in. But 63 is the least I'd expect if this wasn't such a 'fake' market.

Isn't this line at KZ too obvious of a target?

Probably...

Originally posted by jarek

Isn't this line at KZ too obvious of a target?

Click image for original size

After that nice, little bearish ABCD it's trying in the after-cash to get to that 63 area. Very interesting.

64.50 in the after-cash. This is the upper area consisting of a .300/.382 overlap. Next area down has a .382/.447 overlap, and the lines start coming in. We'll see in the GLOBEX. I'm amazed they could sell it down this far. Dem bulls are strong, strong like... like bulls.

Thanks again - this is very valuable information for me