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...

The closest target is this upper ML at 1330:




But I wonder if it slows things down at all. This is because IMHO the aim now is to scare the hell out of any remaining bear.

So, some more new highs, and a close at the highs. Exactly as expected. We may be entering an acceleration phase in here.

jarek- i love your work... i am just trying to show two things. one that skilled trader can take money out of any market on either side... and that two there are increasingly more and more bearish setups in the underlying stocks as the indexes are manipulated higher...remember, the manipulation that is going on is just like the tech wreck in 2000 and the housing /mortgage manipulation into 2007 top.... i am sure in off market derivatives the oligarchs are biulding massive short positions just as they did with housing...this should be easier... when they are short enough... they will just pull the bid.
jim- i hope some of those people are the result of endless hours i have spent encouraging people to buy your books...so that they can join the forum....

Originally posted by roofer

jarek- i love your work...

Originally posted by roofer

... i am just trying to show ... that skilled trader can take money out of any market on either side...

For me to see that you are able to make money shorting today's market is a true inspiration to work even harder

Originally posted by roofer

... there are increasingly more and more bearish setups in the underlying stocks as the indexes are manipulated higher...

I also believe that we are approaching an important turn in not that distant future. This is why I think it may accelerate to the upside now. That would make majority too scared to short the market, when real selling begins.

j- you already know what i think is the easiest thing for a trader to do looking for a turn... keep an eye on their hourly charts of the dow stocks... the number of stocks dragging the index higher has thinned out considerably...

j-at one time i had 11 shorts going based on my use of the tools. on a day that was a classic trend up day....that does not happen unless we are close to a turn..

jim and all-
i have been contacted by a number of traders asking about jim's work.
here is exactly what i tell them.

flat out , i can not do what i do without my knowledge of jim's work.and i can not show you my complete work because i can not show you crucial aspects of his work.but know this. the way i trade is not in jim's books. jim is a trend trader;i use the tools to try to capture the swings at their extremes. EVERYTHING i do has been shown at jim's forum, access to which you get when you buy his books.

ES broke through the previous TL, but stopped right on the next one to form the following bullish TD ABCD:





Let's see how it reacts to it.

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