Is the move up that began on Friday a final acceleration to the 1330 area mentioned here couple of times? Or is it a start of something even bigger to the upside to finally convince everybody that this thing is never ever going to drop again? We'll have to wait to know the answer to this question. My personal opinion is closer to the second alternative, but of course I might be wrong. Some people say that the drop from May 2008 to the final 2009 bottom was an extended 5th wave. Such waves are usually fully retraced, and in such case the upper ML of the recent set needs to be met:

While reviewing the various charts I noticed the recent almost vertical rise in AMZN. I recalled Jim mentioning it here not so long ago. In fact he did it twice in the recent months. I dug the forum and here are his posts with dates:




Isn't this a great tribute to this methodology?

the geometry of sharp up and sharp down are both present in USO.....should be an interesting week

Thanks for this post, jarek. I am extremely happy with my read (and setup) on this AMZN ABCD, and, in my opinon, my read on that previous 100 area in AMZN was one of the best in my career (you have to study that one with aftermarket data, as it hit 100.00 to the penny, right at my area, and then triggered nicely, and my posts discussed this before the rise got going). It's cool to see them posted in here.

Originally posted by jarek

While reviewing the various charts I noticed the recent almost vertical rise in AMZN. I recalled Jim mentioning it here not so long ago. In fact he did it twice in the recent months. I dug the forum and here are his posts with dates:

Click image for original size

Isn't this a great tribute to this methodology?

Nice post. That's one of the best looking JD's I've seen.

Originally posted by roofer

Click image for original size

Click image for original size

Any time now... Just waiting on that new high for the entire 'bulls#%&' market. Hmmm, another up Sunday night GLOBEX/Monday? Especially after the same false start we just saw on the open? I'll post again shortly when it sets the new high...

And yes, this launch is off a near perfect flat ABCD at a .382 to the tick.

It's nominal, but it set the new high, as expected. Another .382 ABCD fulfills itself. Too easy...

There's a little jump up there. More to come...

There it is! And it also takes the ES to 1330. What a shocker.

rat 89 will remember this one....it is a rare day when i will short into oversold.... but the pattern repeats over and over.....rapids and waterfall... the key is the flattening right before price goes..under the cover of opex, the computers were using the patterns to get price to the correct strike.... something else.... i feel a wave four triangle of some degree just ahead... the down in many stocks can be seen as the ab leg of abcd's that i think the c will setup just as the triangle leg is set to go....