Welcome back everybody! Good to see so much activity and some new faces here

There was also a lot of action in the market while I was away. The basic question is, as Jim pointed out already, whether Thursday's 3D ended in a meaningful PTA or not. The best lines I could find for this area are following:



They don't look very convincing and there is no pattern, so the reaction at the current area should be very important:

Since this move in ES looks clearly parabolic, maybe it wants to go straight for a bigger check:



That would also be a nice game - no games in the Game Zone at all

dto has done a retest from underneath of a line it zoomed yesterday if oil has bottomed /... it is here.... s

did gdx jump the zone around the median line? I'm out of my short at .52

incredible retest on fas not caught by me

Now, step back and look at this one. It could be a bearish 'W2' 4-Point at your spot. Now, would I bet on that? Heck, no. Do I think the odds are greater than one in a million that this is a 'retest' and dump? No, probably a lot less than a million to one. This wants new highs for the 'bulls#%&' market, and I can't imagine anything but. I will lean on the long side of the trend until it breaks.

BTW, did I post a great read on this last night, or what? I even mentioned it would likely pull back from that spot, and then I hit the sack, and jarek picked up where I left off, and it rolled into that near perfect ABCD, and up it went. None of my alarms were even hit, and it's just rising and rising. It doesn't get any better than that. Low at 1305, trigger at around 7.00-7.25, now over 30. Just incredible.

As I've been wont to say lately (yes, that actually is correct usage and correct grammar): 'Too easy'. By that I mean, these guys are sometimes incredibly predictable. My own opinion, and nothing more, this is the easiest trading market I have ever seen. It's easy when you know the trend beforehand, like trading yesterday's charts. Not a claim, just my opinion.

Originally posted by jarek

Since this move in ES looks clearly parabolic, maybe it wants to go straight for a bigger check:

Click image for original size

That would also be a nice game - no games in the Game Zone at all

We have a saying in Polish, that it's good to be a farmer, because the corn grows also when he's asleep. I don't know why I thought about it while reading your post above

While ES became almost boring, the situation in Crude is still interesting. I adjusted my downsloping set slightly to get the following picture:

And the bulls in EUR might sleep well until ... the Kane Zone holds:

ES really wants to pop here and do another thrust up, I think. That would put it deep into jarek's area, and the last downsloping lines. I don't think the area will hold. Imagine if they gun it the last hour and take out the 'bulls#%&' market highs! I don't see that as impossible, or even improbable.

And yes, probability-wise, this should need a rest in here, and 'should' start checking back any time. I only made the above comments to reflect that when they go this nuts with free taxpayer money, they can really push things beyond the first areas. Just a thought. I'm very cautious in here, having first gotten a trigger around 7.25...

iwm bounced at line, at .941/ .618......how far will the bounce get? interesting how the new schiff set sits right on top of the last one....