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 jarek

If it breaks to the upside here, than the move off our big ABCD would most probably be something more than W5 finishing right at the target zone:

So it broke to the upside. Will it stop here at this all important 1.618 or aim for the next target - upsloping upper ML?

Higher rates are coming and should stay for some time:

In Gold they still can't take out this bearish KZ ABCD, although it is showing some strength by holding this support at major ML:

melt up time....

DBS, Kane TD ABCD completing at 0.564 fibo, and Kane Pattern-Line-Fib completing at 0.382 fibo.

KaneTrading rocks!


Al Kamego

marking time at upper lines

As I said, too easy... I'm not making claims on the KT methodology (although I do feel it has some value getting one on the trend...), I'm just saying, it's too easy to read this market. That's not bragging about my mad skills, it's more like being a weatherman in Arizona. You just say the same thing every single day (today it will be hot and sunny), and pretty much you're always right. Not a hard job. I'm thinking that call for 1755 by year end may not be so far off. Up until the entire planet implodes, that's my read.

In the meantime, I watch the extreme in here that roofer has shown.

P.S. Great charts, all.

AAPL the big dog 353+, another new all-time high.

$MID, the MidCap index, just smokin' off at all-time new highs. Yes, that means above the previous 2007 all-time highs from before the crisis.

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