Here is the updated medium term chart in ES:




Lack of at least a bounce here following Friday's bullish 3D right into such an area would indicate that something more serious to the downside might be brewing here. Breaking the rising TL from August low (thick blue line) would only confirm this.

I'll look for a new high in Crude as long as KZ is respected:





But this lower high at x marks the spot doesn't look good for bulls in the short term

Great charts, guys. So, that trigger I got in the GLOBEX at 63.50 has produced a move of 42 points so far, essentially straight up. Not bad. New 'bulls#%&' market high, as expected. The 'correction' that everyone said would be 10% was essentially another 'one day wonder', as expected. Market could care less that oil is exploding, and the Middle East and Northern Africa are on fire. Or that 'my' DBC is at yet another new high. Or that the dollar is getting monkey-hammered yet again (actually, the market likes that). So, as expected, 'everything is as it should be, in this, the best of all possible worlds'. As they say at Zero Hedge, BTFD (Buy The F'in Dip).

Now, here's what I'm really curious to see. The last dip, pulling back from the 1.128, has now 'triggered' to the upside. Will it do another little leg up, perhaps to the 1.272, or will it grind for the rest of the day, or heaven forbid, drops a little lower? This, I can't wait to see. Will they actually screw with the longs a bit up here?

Looks like this trigger was just a retest of the line from below and down it goes. We have the biggest correction today - more than 3 points already:

And there's the HOD, as I expected.

Yes - it corrected a whole 3.5 points. Always better than nothing...

And there's the new HOD, also as expected. Getting ready for a burst up close at or about a new high tick deal.

As I said, I fully 100% believe this market will rise, except for very short corrections, until the final collapse. That may be years and years off, and tens of thousands of points away. And it could be tomorrow....

And I think that we are closer to a major turn that most people think. But first they need to get rid of the bears still standing.

I'd love it if you are right, but I just don't see it. Not until strong new highs are in in the S&P and INDU...

I can't refrain myself from quoting here a fragment of famous Polish poem for children - "The Locomotive" by Julian Tuwim:

"...

First a toot!
Then a hoot!
Steam is churning,
Wheels are turning!

More slowly - than turtles - with freight - on their - backs,
The drowsy - steam engine - sets off - down the tracks.
She chugs and she tugs at her wagons with strain,
As wheel after wheel slowly turns on the train.
She doubles her effort and quickens her pace,
And rambles and scrambles to keep up the race.

Oh whither, oh whither? go forward at will,
And chug along over the bridge, up the hill,
Through mountains and tunnels and meadows and woods,
Now hurry, now hurry, deliver your goods.

Keep up your tempo, now push along, push along,
Chug along, tug along, tug along, chug along
Lightly and sprightly she carries her freight
Like a ping-pong ball bouncing without any weight,
Not heavy equipment exhausted to death,
But a little tin toy, just a light puff of breath.

..."

Have a great weekend all!