Originally posted by jimkane

...the A point of that bigger bearish ABCD is a big, key area on the higher timeframes. So, it really comes down to if one thinks a bigger correction is at hand, or that was it and new highs are coming.

So we may expect stronger move either way in the coming week:

Incredible charts, guys. Loved your series, roofer. Really appreciate you posting all those.

There is a rather curious divergence going on. Look at S&P, Midcaps, Russell, NASDAQ, well below the 'bulls#%&' market high, and the DOW is just smokin' off at new highs.

Isn't this just the start of the march towards upper ML?




That would be quite a surprise for all the bears still standing. But in my opinion we need a real surprise to finish this long and relentless move up and starting a drop any minute here would not be a surprise at all...

The drop in ES needs to be contained here, if this is W3 up of the move off Thursday's low:

The move off the December low in Bonds looks nothing else but corrective. But I think it would have already fallen off the cliff before if it had been really weak:

And it was contained, as expected. Smokin' off at a new HOD. "Everything is as it should be, in this, the best of all possible worlds."

Originally posted by jarek

The drop in ES needs to be contained here, if this is W3 up of the move off Thursday's low:

Click image for original size

Originally posted by jarek

The drop in ES needs to be contained here, if this is W3 up of the move off Thursday's low...

I've seen better first impulse legs than our bearish ABCD, but looks like I may go sleep tonight without changing my count:

re jim's thoughts on divergence... there is more based on tools of forum.... since the top in FAS, every retrace has taken the form of trend continuation down setup

i think you can tell the questions i am asking based on the geometry/on another subject....what if you could walk into a bookstore and get any book ever written?in 20 minutes....it now exists... mydaughter went to store yesterday and asked for long out of print book... not a problem in 20 minutes MADE HER A BOOK .. WITH ORIGINAL TYPE AND HARDCOVER.....she stood there and took pictures as book was made.

when i was 11, my mother, alifelong trader, sat me down and said'' beware of a market when the dow marches alone''... nothing has changed in 50 years......i am doing what i always do hitting my predefined setups at the geometry......

Originally posted by jarek

I've seen better first impulse legs than our bearish ABCD, but looks like I may go sleep tonight without changing my count...

But the count needs to be changed this morning. The only way it can resolve to the upside from here is to honor this potential W2 KZ TD ABCD:

clf has long been one of my favorite traders that i have kept to myself..... here is a peak