Well, since jarek is off this week, I guess I'll start the topic this time...

CL still selling...

For those that think speculation is dead in here, PCLN gapped up today to a new all-time high, and was 53.40, by my data, off the low of yesterday at the high today. Nah, not too much easy money out there.

Crude selling is relentless.

ES now at a very key, primary .382 area. Time to see if they can rise it until close, or if they need to check it back in a bit.

It sure 'sees' it. Watch this little ABCD here for clues. Looks like it wants to come back in more than that. Notice how CL started up when ES started down.

Originally posted by jimkane

ES now at a very key, primary .382 area. Time to see if they can rise it until close, or if they need to check it back in a bit.

you mean this Jim?

rat, as best as can be duplicated in SPY, yes, that's it. I am looking at ES with 24 hour data, though, so sometimes they won't sync up very well.

thanks.....

Futures moving up nicely. I rather suspect this will be moving up quite aggressively off that 3D on the 120-min. I'm thinking they want a strong up day soon, and Friday is a great day for that game. Set it up to get back to the up Sunday night GLOBEX/Monday thing. We'll see. I'm ready for it, let me put it that way. I like to look over various scenarios, and this one is the one I find the most likely. Positioning for this was pretty easy off the third drive at the LOD today, or off the .447 pullback right at a key line, completing right around cash close. Now I watch the key areas for downside trend continuation, and see how it handles them.

the key is to do the hard mind numbing work to know when the indexes are going one way and certain stocks are going the other way.as the indexes are going up you will get to the point when 90% of your stocks are on sell... then the indexes go down... here is why i was short AMZN all day as the indexes were going up..