There is not much to add to the extensive coverage of the recent weeks here. While looking for geometry of Friday's turn on the continuous contract basis I came up with the following picture:



We have an almost ideal .382 bullish ABCD here. Thanks to Roofer's findings based on thousands of examples we know that probability of taking out the high equals in such case 87%. What's more in order to hit Jim's target zone at the line, a pretty fast move would be required... We'll see next week if we are on the right track and ... in the right train

It looks like a channel line drawn from the 2 spikes down in the CD leg lead right into your possible D point.

j-i am gone from the markets with no positions. i may not trade all week.. i see the chart you posted differently as a 1/2 with a 3rd wave down ahead..... price has traded below the level that has triggered crashes in the past.i still have crash targets below....in many stocks....until price can escape this sharp downward set.. i have no interest being long. for more than a couple of hours....the current level of the market is based on computers playing games... the real value may be about to surface as the computers pull the bid.

Practice work on Spy using similar sets to Jarek's.

I've never 'had my fingers crossed' more than now that you are right on this one, roofer, and that the crash targets are hit. I want it more than when I was a kid waiting for Christmas morning to come. I hope we get it...

Originally posted by roofer

j-i am gone from the markets with no positions. i may not trade all week.. i see the chart you posted differently as a 1/2 with a 3rd wave down ahead..... price has traded below the level that has triggered crashes in the past.i still have crash targets below....in many stocks....until price can escape this sharp downward set.. i have no interest being long. for more than a couple of hours....the current level of the market is based on computers playing games... the real value may be about to surface as the computers pull the bid.

Click image for original size

even though i am a mad short seller, this time i would be glad to be wrong.i do not mind taking money on the short side due to the stupidity and greed of my fellow traders. i do mind taking money due to the suffering of my fellow human beings....both gld and uso traded to key levels last week... normally i would expext the computers to ramp them up again... unless the real world intervenes and the bid is pulled.stocks down, oil and gold down all day tomorrow, then i think something big is happening.. i have a secret interest in financial astrology particularly since the time the one i was reading back in 01 said on 9/9 we should be on high terror alert. this time the warning was we have entered a time frame to expect earthquakes and BLACKOUTS... in a developed country how do you get blackouts unless a powerplant goes down.

for my own reasons i was tracking FSNR.... and my geometry expressed my expectations.... yet one day the bid was pulled... was it really worth 44 one day and 4 days later 24...

roofer, I, too, follow financial astrology to some extent. You don't have to answer, but is that Arch Crawford you are referring to? I know him personally, when I was in AZ we went to the same chiropractor, and we would talk endlessly about the market while we waited, and then afterwards, hanging around until I'm sure they tired of us taking up space. He FAX'ed me (or was it e-mailed, I can't recall now) his warning right before 9/11. I'm going to make a post in the economics section right now that you should read, it's just a reference to a television show. It hits on the power outage concepts a bit, though.

Originally posted by roofer

...i have a secret interest in financial astrology particularly since the time the one i was reading back in 01 said on 9/9 we should be on high terror alert. this time the warning was we have entered a time frame to expect earthquakes and BLACKOUTS... in a developed country how do you get blackouts unless a powerplant goes down.

Click image for original size

Click image for original size

the question i keep asking myself ... when i do the work, why do i see dozens of stocks that broke off their tops on .886 on gap on 5?individually i know what the computers intent was... but why so many... why now?( mee is one of a group of stocks i track every day)

no it was a guy who was later hired by a fund with the stipulation he cease his public work....

Ah. Arch sent out his post on the same day, saying a massive warlike event was going to happen imminently. It was truly amazing.

Practice work. I consolidated what Jarek did on the ES 15 minute chart. I'm only showing the last 2 days -- from where I left off on Wednesday.