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

ches, as roofer says, jarek posts as fast or faster than I do, and with charts. Then it will be a lot more clear. But to answer your question, unless I specify, I am referring to the ES intraday (the exact timeframe is decided by the ABCD or pullback), and I abbreviate to the last two full digits (or 1 if the other is a zero), so 1311.25 would be 11.25, 1305.00 would be 5.00, or '5 even', and so on. Sometimes I'll refer back to the old pit language and use 'and a quart', 'half', and 'three quarts' for .25, .50, and .75 respectively. Like '6 half' for 1306.50.

The point for my ES posts is to try to show how I read the action. It is assumed the KT techniques are fully understood. jarek's charts will help with the understanding of the techniques. I just don't have the time during a session to post charts or explain a lot of what is going on. I sometimes comment on CL intraday, and a few other futures. I follow pretty much all futures, though, a small group of stocks, all the indices, and I look at all timeframes. I just mostly post about the ES intraday, although that only encompasses perhaps 30% of my focus. I love swing plays on stocks with options, for example.

Originally posted by tx_ches

Jim,
when you do these very brief updates like below, are you talking
about the ES on a 5 minute chart?

Originally posted by jimkane

And up off 4 it goes with vigor. Some surprise there.

You should look over the past endless weeks of posts of the 'Trading Discussion' to study the charts jarek posts, and my comments, to get started on my approach. There is a lot in all those posts, and there is no reason to wait only for new posts to study.

somebody is willing to be a large buyer at the line

Hmmm, no, I'm not usually up this late (I'm three hours earlier than the east coast time stamp on this), but I had several alarms go off and send me to my comp in a hurry. ES selling off hard, big deal, but crude went nuts! CL is trading over 103, very interesting, but nothing earth shattering. Now Brent, though, the 'real oil price', is almost at 118! Unleaded gasoline and heating oil are going nuts, too.

Economically, this is not good. Talk is $220 if only Libya and perhaps Algeria shuts down. Now they are saying Saudi Arabia isn't off the table for all this mayhem. If so, the talk is $500 to $1,000 instantaneously. Perhaps none of this mayhem happens, but it's not what happens, it's what people worry may happen, and what speculators with trillions do with that. I'm terrified. In the meantime, I'm staying long side bias energy, until proven otherwise by seeing the whites of their eyes. No way I want to play the short side in futures with unlimited risk.

Imagine trying to scalp off a few bucks on the price on a countertrend trade, and then word hits the Saud family has been taken out, and the oil fields are on fire. No thanks. Just something to think about. Now we see if this climaxed the whole group of moves, or if we get the obligatory checkbacks and trend resumption. I'm a trend trader, and this is what I live for. If I'm up again later I may post. I guess I'll be tired tomorrow. But stuff like this doesn't come along every day. I can always sleep later...

me too.......... as long as the .886's hold in rth in gld,slv,tlt, then i am expecting abcd pull backs.... if spy trades to 130.04( also a .685)then turns, it sets up kane 1.128 abcd back to 13180 which is also .382 of move down which then sets up 382/87 to new lows.... i expect uso to trade to 1.27 setting up kane 127 abcd... or to spike higher to a line then set up.886 and trade sharply lower for a brief period before resuming uptrend.

56.98 = .382 from center of the gap

no! something else is there on rig

tlt is breaking above ml on large set....target is now upper line

but as it broke out..... it ran into a large .886 on gap and turned down... but then it formed an abcd.... forget it....

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..