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 just doesn't get any better than this, in my opinion. Kind of been finding the areas the last several sessions, huh? I'm somewhat amazed myself how well it is 'seeing' the areas I'm finding.

Originally posted by jimkane

83.75 high. One last push off previous 82.25 high checkback. Just sayin'...

Watch this 78.50 low very closely.

Originally posted by jimkane

Checkback starts dead off the area, then they come in strong. Now we see. One last push, or just blow it out to the upside?

Originally posted by jimkane

The next area I'm watching closely is around 81-83, but may stretch as far as 84...

so does this set up as a .382 to the .886 at 7781?

Originally posted by roofer

serious 5 point traders,who have had in mind all along that all this was a correction of the feb low..... will have no choice but to pound the table and say time to blast off.....

Click image for original size

Crushing it off that high. I nailed it, again, posted in advance, again (not bragging, just amazed), now over 10 points off that, that fast. Notice the key 78.50 area was the 'trigger'. .382 at line, it had to hold if they were strongly bullish, and it didn't. Swooooosh. Remarkable. This is a hold the short-side here, in my opinion. Wow, look at this!!!

Quite a reaction to this KZ DB ABCD - 10 points in 20 minutes:



This market is still vulnerable and some were afraid to stay with the position overnight. Who knows what the new day in Japan will bring?

Yes, roofer. I suspected it would be odd today, and that many things wouldn't complete, and create this 'anomaly'. It may indicate some downside, as you say.

Originally posted by roofer

a number of important stocks did not complete their geometry today. and they just sat there as the market rallied... NOR DID THE DOW, in the way i see it......perhaps tomorrow will sell off (to.886 on gaps) in rut, qqqq while the dow completes it geometry and makes new low.... INTC in particular looks vulnerable....if the pitbull is not ready to run, perhaps the whole market is not ready either.....

The curious thing is how every last analyst on TV, endless parades of them, all said this is a great buying opportunity. The Nikkei is now in a full-blown bear market (by the completely useless and technically insignificant 20% down the media loves so much), but you don't hear that, you hear it's a great buying opportunity. I heard one analyst say today was a total capitulation day in our markets. Yeah, right. One thing I know for sure, predicting exactly what all these lemmings will say for any given market scenario, it's like totally easy and obvious, in my opinion. They never change. I wish I could 'trade'/bet on what they will say instead of what the market does. It would be so easy...

Watch 73 here for some clues.

5462 qqqq if that is the case....

Originally posted by roofer

a number of important stocks did not complete their geometry today. and they just sat there as the market rallied... NOR DID THE DOW, in the way i see it......perhaps tomorrow will sell off (to.886 on gaps) in rut, qqqq while the dow completes it geometry and makes new low.... INTC in particular looks vulnerable....if the pitbull is not ready to run, perhaps the whole market is not ready either.....

You know, sometimes I get so frustrated I just want to get totally out of the public eye, fold the website, stop selling the books, just go back to 100% private and underground. The only thing that keeps me going is the work in this forum and my few students. I'm involved with a big tiff out in the public area where I made a simple post about roofer's excellent call out there on the crash, and I got blasted for it. kool did jump up to my defense, which was very kind of him, but overall, I'm just so sick of the 'old boys club' out there, which is, I feel, keeping almost everyone from posting out of fear of being hammered. A lot of good that does for people.

And I'm so sick of being looked down on because I 'sell products'. I'm so sick of those that feel nothing sold can have any worth, and sellers are all scum. Nothing against joed, he has nothing to do with my point here, he is a great guy and I'm loving reading his blog, but even he did a good job in his recent post slamming vendors and booksellers. I can't imagine he thinks there are even a few that are okay. So, he probably thinks I am likely the same as the rest.

Anyway, back to the forum. I can only stand so many times listening to these people attack the likes of me, saying what I have is useless or should be free. And that my pointing out roofer's call played out pretty well (in a post that I thought had good context for that) was shilling for a 'client' of mine who made one good call, well, that makes me quite frustrated. And this, from a guy who blasted roofer in the past for not making an in advance call. He then makes one, I point it out, and the guy who asked for the advanced call says I'm shilling for one of my 'clients'.

I would love to post all the 'calls' I make in here, day after day, as they play out one after another after another, when everyone in here knows I avoid 'calls', avoid predicting the market, and focus on probability and teaching the methodology. Imagine if I focused solely on making calls, putting the best of the best out there. Only those in here know what I post, and those out there will never come in until they see the 'proof' first. It's the ultimate trading lesson, in my opinion.

Get this. They want 'proof' that something works. They want zero risk, but still a reward. That's an infinite reward/risk ratio. Not possible. You can't get reward without risk. They won't take any risk i.e. buy the books and see for themselves. So, if they want no risk, there can be no reward. Even a tiny reward and no risk is an infinite reward/risk ratio, again, not possible. So, here's what I'd like to do.

Give them two choices. You can take the risk, and attempt to then get a reward that makes it worthwhile. That's choice number one. I'll give you the 'proof'. That by its very nature precludes any possible reward. Hence, you will never, ever be allowed in the forum once you have the 'proof', you will forever be precluded from ever being a student of mine, etc. That's choice number two. A harsh, but necessary trading lesson. Let them choose.

People in here don't know what I've had to go through just to put a few people together that understand this work. To create the small handful of mentor students that I can really relate to, I've had to allow myself to be bashed, probed, prodded, degraded, slammed, and so on, searching for the few. It has torn me down. Sure, I get the reward of the few, but honestly, net overall, it's a negative expectation trade. I've lost more than I've gained.

I try to focus on the good, but it's still a losing trade for me. It's torn a chunk of my soul away, in a sense. You'd have to experience it to know exactly what I mean. The endless, constant name calling and put downs about how there is no such thing as a real trading teacher, that people who put 37,000 hours into something should give all the fruits of that away for free (like my surgeon or specialist does for me all the time, right?), how we are all scum, how what we have discovered has been around since the ancient Greeks (yeah, they used the .685 all the time...), how it is all known, how it is all not worth much, and on and on.

It just tears you down, and all you have is what you can do on your own, and the conflict it causes when you know what is possible, yet almost no one else believes you. And the small handful that do, no one believes you or them because we are all 'shills'. I just don't like being a part of all this, I want to be as far from it as possible. It's just wearing me down to nothing...

ES off 18 points at the low from the area I posted earlier. What movement. Unreal.

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.