Okay, I guess jarek must still be skiing, so I'll start this week's topic. Let's make it another monster week for quality posts.

That's a great post, tx. Very descriptive, good assessment, and you saw it all as it happened, even if you decided not to act on it. A nice narrative on the methodology, and what it showed.

Originally posted by tx_ches

AMZN set up a 4pt continuation pattern on 5 minute.
It gapped up on open.
Then did a pull back to the 44.7 area.
Then did the 78% abcd.
I had my order in but then pulled it because I was afraid of what I was seeing in the broader market.

So I missed the breakout move.

Click image for original size

If they let the ES go (which looks about to happen), then expect INTC, and AAPL, to flush nicely.

Okay, as that was posting, they took the ES below all those lows. Now we see if it was just a stop run snap trap because this thing is slower than molasses in January, or the start of something serious.

Honestly, though, I just don't see it, right now.

Well, it sure can't get off the floor. Just letting it do its thing, seeing if it can break down. It's looking more likely they are going to flush it.

And, once again, as that was posting, it takes out the low. And once again, instead of that creating a big panic flush, it causes an immediate snap up (albeit a small snap). That tells me something. There are buyers below each level, just waiting. It also tells me if those buyers pull those bids, swoooooooooooooosh.

Okay, get ready. Watch that Friday LOD.

One tick from the Friday LOD, and equal tick to last nights GLOBEX low, and it snaps up. Showtime.

thanks jim

Originally posted by jimkane

Okay, get ready. Watch that Friday LOD.

1.128 at 5598

Thanks - I must have been sleeping indeed