ES is shaping up nicely for my new scenario, especially with the smallest Schiff set respected very well so far:



However the W4 triangle on the main index could have already been completed on Friday and in such case the usual Sunday/Monday procedure should take place from the start of trading.

And, even though the technicals may say 70, given that about 200 hedge funds own AAPL, if they started to massively sell, it may go to the next major level below that 70 back. I can't imagine them ever selling in any quantity, but they are all lemmings all on one side of the trade, and if they get triggers, they'll all take them. Flash crash time. Again, just a thought. And with AAPL being about 20% of the NDX right now... Just thinking out loud.

Wow, that is some action. The ES just dropped over 15 points from the GLOBEX high there, and then instantly snapped back 9 points, most of the waterfall of the decline, and right to a .300 and KZ overlap, in an ABCD. It's acting like it wants to take the ABCD out and keep rising. On the continuous contract, the low is a bigger 1.272, and completes the bigger bullish ABCD with that 'triangle' in the BC leg. Now we see. Just unreal action.

Climax selling after a major earthquake right into my yesterday's big bullish ABCD area??? Very, very curious:

Very curious, indeed. I may be short on sleep again tonight. Ever since this thing got 'toppy' it's been hard to get but a few hours sleep a night... But I'm fine with that.

Wow .. I must say that last few weeks this forum is better than anything else about geometry. It is worth the price of the books twice :) But Jim .. to late to ask for more :)
Really great posts. I would just have to vote every post this week.

It would be nice if you not only voted, but also posted a chart from time to time

Important test of the downtrend in EUR:

Bulls in Crude are still fighting at that lower ML:



Was this hole drop an ambush for bears??

Originally posted by jarek

It would be nice if you not only voted, but also posted a chart from time to time

Ouch ! That was low kick Jarek :) Point taken. Do not think any of you can learn from me anything. My knowledge of Kane Trading is probably 1/10th of yours :)

I started to post here when my knowledge was probably 1/20th of the current level. Check yourself my charts from the beginning of 2009... But it somehow happenes that the more I post, the better trader I become

yes, thanks jim

Originally posted by jimkane
Hopefully at least this leaves you with some understanding of my reasons.