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...

And 'Whup!' there it is, 'Whup!' there it is... Too easy. Kah-ching, kah-ching.

If I still were myself from late 2009/early 2010 then I would be looking for W2 bearish ABCDs on majority of the recent moves to new highs




... and grind now my teeth after yet another failure...


Thanks Jim!!!

That was the best bad habit you ever broke, in my opinion!

Okay, watch this closely, as it 'sees' that obvious SL.

Originally posted by jimkane

That was the best bad habit you ever broke, in my opinion!

I would vote you up, but I'm left with no ammo today

Crude is very curious. Notice that May is trading about 8 bucks higher than March! And Brent front month is over $100, about 13 bucks over NYMEX front month. Very, very curious, and odd, to me.

And right down off it it goes (for now...). The old one-tick new high thing, too.

Originally posted by jimkane

Okay, watch this closely, as it 'sees' that obvious SL.

Notice the emphasis on the 'for now' part. It drops a whole 2.25 points, and they simply explode it up to another new high. What a shocker. With an hour left, this may have a long ways to go yet. We'll see.

Another minor pullback here, after yet another two-tick new high, or is this a headfake trap over the SL, and down a tiny little bit more? I'm watching, ready for either...

And there's another new high, by a tick, after a 1.25 point pullback. This is comical. But, sitting on the long has been correct so far...

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