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

Are you ready? The sell stops are sweeped, and they look ready to gun it up now.

Originally posted by jimkane

Get ready, in case, for that upside explosion.

Originally posted by jimkane

Just as I post that, it 'breaks to the downside'. Watch to see if that is the sell stop sweep, followed by that ramp to the upside. If not, that's a big clue.

And there it is. Too easy. These guys are just too funny.

Now, that last push went right to the 1.272 and key line, and started to react. This is a key spot. Did they sweep it down and then up, and now will let it go? Somehow, I doubt it. I think they want to get all the selling erased ASAP. But, if not, this double sweep could be it. Can't wait to see. I know how I have my odds calculated...

Well, it did what I expected, which was react off that 1.272, and then burst up and over, and it sits near the high for the move off today's low. Most of the capitulation has been made up, and GLOBEX has lots of room to run. Interestingly, the Russell was comparatively weak, as were the Midcaps, in this run up. That may be significant.

And yes, that's quite a 3D on the 1-min in the ES.

Well, I hope that the move down in gold is 'for real', as I am still hoping against hope for a sub-1000 level. I hope the rest of the comms come off equally, too. But I suspect this is just another game to shake people out. I just don't see gold going down substantially. It's a rather odd feeling to be a super-mega-bull on something, and be literally pleading for it do get a big haircut. I just want a 'once in a lifetime' additional chance with it.

http://www.zerohedge.com/article/bloombergs-chart-day-latest-amusing-attempt-create-gold-selling-frenzy

Like to wish every member of the Kane Team a Happy New Year and prosperous one.

367 Posts

3
Posted - 11/04/2010 : 16:05:39
Originally posted by jimkane

Recall my +100 ES scenario. Well, it's +40 off yesterday's low already. Sure, I wondered if it could do it all in one day, but it looks like it may do it in no more than several trading days. Wow.

Click image for original size


and 60 more points takes us here...


We are here now..60 points higher in 60 days.

Good to see you back Eric!

Nice .382 bullish ABCD at most obvious TL at LOD:

Each capitulation move in Crude is retraced by another capitulation move. Very curious:

Thanks again - this is very valuable information for me