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:

ES one tick from the 'bulls#%&' market high! Right off a super-key line and .447. So, this hits a sweet ABCD in the overnight GLOBEX, with a near perfect trigger, then goes right to the most probable area (look at the SL!), drops to a key spot, and rises right back to the HOD, to finish the week strong. And, notice the last push down to the spot, and how it set up, and the first pullback DT ABCD on the way up. Area to area. No claims, but it was just incredible to me. Do the work and you'll see.

There it is! There's the new 'bulls#%&' market high, right on the after-cash close! There it is! Close the week, heading into the holiday, at a new high for the entire ''bulls#%&' market, on the high tick! These guys, it never changes. I have to admit, when you 'know', essentially without question or doubt, which way the market will move, it makes the trading so much easier. Just amazing.

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....