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

$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.

And some big W2 callers are still hanging on ...

Bulls in Crude are paying high price for this failed bullish KZ ABDC:

Let's see how the bulls in ES will manage a similar, but much smaller pattern:

It's probably not an ABCD anymore, but lots of lines are in this bigger KZ after the ABCD above failed. Tell time:

tough tough day for the shorts..at 11 all my gold stocks set up so that was my focus for the day.. have seen no reversal pattern in USO since the big .886 on gap.took a shot at bonds also

So, the ES explodes up on the European open, for about an hour. Then it explodes up on the U.S. open, for about an hour. Between both of those explosions, and after the last explosion, it basically does nothing, with some slight downward drift. This market is so asinine I just can't get over it. I think it is spectacular for trading (look at that short CL setup from this AM!), but just so asinine I can't believe it can even be. Heck, I don't care how long they play this insane game, but I just wanted to vent that it is just so asinine....

Bulls might like this continuous support from a division line of the big set after the last .447:

Yet another bullish KZ ABCD at TL from Jan 30th bottom:

...and yet another Kane classic?

The price for this failed KZ ABCD turned out to be very steep for Crude bulls. Now they're fighting for life:

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