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...

Originally posted by jimkane

...I think it wants to get to 31-32.

They should get there right before the close at the current pace

i don't know jim.... the EEM, after catching a bid at what else the .886 on gap on 5, has set up the classic jerry's dragon with targets marked. hahaha .. a few more days and there will be all time highs in snp!

of course this looks awfully scary to me.hahaha!

So they decided to correct here a bit. Just to the small Kane Zone at lines or a CD leg of a bigger pattern?

Nothing like a big 2-3 point correction going into a Friday close. Hmmm, I wonder if Sunday night GLOBEX/Monday will be up or down? Too funny...

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