I'm wondering about possible scenarios for a full playout of this test and retest at SPX showed here on Friday:



... and the only reason for a quick drop from here to the lower ML could in my opinion be a failed 5th wave at SPX and ES. Because on many other indexes the recent rise looks like already completed 5th wave:

Great post. I actually think this is a well-laid trap by Gross, with the cost of his short the price of the much more profitable trap. I'll explain when I get a lull.

Originally posted by jarek

Originally posted by jarek

Originally posted by jarek

...Do they want to make an idiot of Gross now?

I wonder how other he would feel sitting there and watching it growing relentlessly off this .886:

I suspect this move up may now continue for some time:

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There are far too many people out there, who didn't like his cockiness in the past

Well, chances are the market is going up like a rocketship from here, but it is interesting that if that area was hit, it would line up almost exactly with that lower TNA area. But, alas, is it to be???

Originally posted by jarek

$SPX still looks like on its way from test and retest to the target ML:

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Yeah you need some really big bolt cutters to cut the ball and chain of a trading computer.

Originally posted by jarek

I couldn't - it's stronger than me

I think it is just us. At least using it the way we do. I've never seen that anywhere else.

Originally posted by jarek

I can't stop wondering - could it be just us here knowing the power of .447?

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For those who use just standard Fibs it must be the middle of nowhere...

No, it's better for everyone when you post, especially since roofer and Eric left us. But, you also have to do what's best for you.

Originally posted by jarek

I have same problem as Jim couple of days ago - I just can't stop posting

I guess it would be better for everybody if I turn the computer off now

I think the ES wants 1314.50 area, probably with a timing factor around the top of the hour. That's the ABCD. After that, once it demonstrates it is a 'W3', then I'm watching 19.50 area.

And yes, the immediate 1.272 area in here off the last correction is also an area to take seriously. If they are truly as bullish as they act off the bigger area, it should overcome that with little if any checkback. Let's see if that is actually the case...

Originally posted by jarek

...The real test for this move off a bullish ABCD is still ahead though

And it took Gold practically no time to get there:

Originally posted by jimkane

No, it's better for everyone when you post, especially since roofer and Eric left us...

I think they'll be both back in due time

Gold just on fire. That Goldman note was so funny. They pull the plug on their client commodities basket recommendation, and the clients dump into Goldman's hands, as Goldman knows a big commodity jump is about to happen. Like in 2008 when they lowered their target for crude, getting their clients to dump, and they scooped it up, then prompty raised their target to $150. Add in a note soon about 'rapidly changing fundamentals', and it all looks like they are doing their best for their clients. Too funny. Their client calls are almost always wrong, in my experience.

Originally posted by jimkane

... so the Gross post will be short...

I see that we have a new definition of "short"