I wonder what are the chances that our "locomotive" will stop all of a sudden just here:



If it reaches this upper ML it will not only retrace the whole 2008 debacle, but also should get to this downsloping parallel on the monthly chart, which marked the 2007 top:




I simply don't see any meaningful targets in between...

One more small bounce and roll down to 11.75, into a 3D. What a way to finish. Just watching and seeing what it does, to see if it has more to give, or that's it. Patience.

My 'guess' is they start it back up from here, and see how much they can make back before the close. We'll see.

Sure is battling with the obvious .382 at 15.75 here. Nice start up, but it will need to overcome this area for that push higher. I think they'll likely do it.

Got over that .382, now battling at the .447. This is it. Decision time for dem bulls. They seem weak today. Turn those HFT machines back ooooooooooooooooooooonnnnnnnnnnnnnnnnn!!!!!!!!!!!! (Paraphrased from 'Trading Places'.)

Finally the break of the .447. Just letting them grind this up. Another dead on read, it seems...

Originally posted by jimkane

My 'guess' is they start it back up from here, and see how much they can make back before the close. We'll see.

Wheeeeeeee!, look at it go in the after-cash! Just over 2 points from a new high for the entire 'bulls#%&' market. What a read I got off that low.

So, nine points essentially straight up off that low, and just 1.50 points from a brand new high for the entire 'bulls#%&' market. Dem bulls got some steam after all. They turned those HFT machines back on. As I keep saying, 'too easy'. Glad I posted that read instead of just said it to myself.

Everyone watching those commodities? Corn, lock limit up. Rice exploding. Wheat, beans, OJ, cotton, sugar, coffee, and on and on. Through the roof. Rubber, another key item, at an all-time new high. Those poor, poor people around the world... In India they spend 53% of their income just on food.

Unleaded gasoline about to break out to new highs for the entire run, with supply at a 20-year high! This, after gasoline has over tripled since the low! Something to wonder about. Imagine prices if the world economy was truly chugging along at full steam, growing like crazy, and demand was very strong. Ouch. Better pray for no recovery, unless you like $20/gal pump gas and $15-$20 loaves of bread, or higher. Seriously.

CSCO just getting crushed in the after-hours, yet the futures barely care. How odd, given how important CSCO is (or was). Shows you just how disconnected with fundamentals this market really is.

So, I heard that move up today in cotton took out the 150-year civil war high, and set an all-time high. Wow.