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

And there's the new low for the entire correction...

I almost posted a note earlier but I generally don't post until the slower afternoon, so I can concentrate during the critical times. But, I wanted to post that 3D (for newer people, see the KT Terminology page for unfamiliar terms) this AM, at a PTA. Look on say a 3-min. Now go to a 120-min all-sessions. Notice anything? This is setting up as a big 3D to this new low. Here's what I say all the time (I cover a lot of the theory and practice behind this with my students, but here's all you really need to know): the value to me of a 3D headed into a PTA is huge, but a 3D that isn't at a PTA is essentially useless to me. So, is this a key PTA in here?

is this a breakdown or a gift at the .886?

Look at crude and gold breaking down rapidly, just as the ES jumps up off that 3D, almost 9 points so far straight up. Is that an ES PTA down there? Has the shift to 'risk on' occurred???

Am I watching the ES closely at 1.50 here? If so, why???

Very clear clue. Little tick ABCD off that 1.50, and then a strong burst up and over for a new high for the move. 'Trend continuation', as they say.

Originally posted by jimkane

Am I watching the ES closely at 1.50 here? If so, why???

No way, no how do they not want to close this + on the day. They may not be able to do it, but you know that's their intention. Must...close...green...

This 3.25 is something to watch carefully... Those bulls have to step in here quickly...

Watch CL and GC in here for clues...

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..