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...

Was this .382 standard ABCD at major ML already it if it comes to a bigger correction?

GLD has traded to a .941/.941 kane 4 pt.... i f that is all there is, then price will rocket.this would be rare as the price level that price was rejected at 7 times was key gann level thus the normal expectation is for price to trade to the next gann level... have put mystops in gld and gld stocks close..... on another note, as the mad short seller at the forum, i dumped my long TLT AND REVERSED at what else.886 on gap at geometry....

Everyone see cotton today? And that, after a hike in margin requirements. Wow. Egyptian resolution should bring the price down... If you can call that 'resolution'.

Okay, there's the expected break to yet another new 'bulls#%&' market high. It goes without saying I'm long-side bias ES, especially on an add-on or reentry basis off that last setup. Now we see if they are just gunning some stops here, or if this will be an acceleration phase. Anyway, my ES 1330 (give or take the standard range for a huge daily area) has essentially been achieved, as I thought all along it would be.

Originally posted by jarek

Was this .382 standard ABCD at major ML already it if it comes to a bigger correction?

Looks like this might exactly be the case. The oxygen was cut off and bears have almost nothing left to breathe. Almost every single short ES position in the world is a loosing one again:

covered half positions in short gold and stocks just now... this is where the rally or collapse will start......stops on all stocks at recent retrace highs

still short

Next little push coming. I think it wants to get to 31-32.

Theoretically, in a balanced, 'free' market I'd say it should be done in here already...

SL, smaller 1.272, bigger 1.460, some other things, this should check it back. In 'the old days'...

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