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...

First obvious target at the green line was just reached:




A decisive break over this downsloping TL would be a first sign that this move up may have some legs.

the bears case can be best made at this moment in time with the IWM...IN THE BIGGER PICTURE, a 10% pullback seems like chump change and would allow for some much needed gathering of inventory before the computers take the market much higher...pretty much mob for this index.... much higher.. and the medianline sets would lose downward slope.

i would point out that just above price is a 1,27 dbs that will remain in effect as long as yesterdays low is not taken out... and that the $NDX needs to make a slightly higher high to complete its geometry....

We will now see if this small .447 TD was a W4 for a fake breakout or something more serious to the upside is developing here:

.... and the answer comes within seconds:

IF BONDS ARE GOING HIGHER.. THEY MUST GO NOW

Bulls in Crude are still hanging on the ropes at support. If they don't invalidate this small bearish flat quickly, then the move to the lower ML of the downsloping set might be inevitable:

Originally posted by roofer

IF BONDS ARE GOING HIGHER.. THEY MUST GO NOW ...

Agreed, but they seem not able to overcome the first resistance at December bottom:

KZ DT ABCD to test the green line from above?

Looks like it was just an AB leg of an KZ EXP ABCD:

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