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:

Gold jumps up for the new all-time high, 1479.80 so far. Hopefully we'll see that 1493 area soon, maybe tomorrow? There's some things in the low 80's, though, and that may create a 'W4' and a checkback, perhaps to 'retest' the breakout level. If so, it probably won't get to that 1493 area on Friday. Who knows. Just some scenario thinking.

Originally posted by rat89

btw.....I did send a message to daytrader about search and he sent me a link to the form - it seems to work...

http://www.mypivots.com/board/search

This is actually very useful tool. And surprisingly no link on the forum main page is leading to it (or at least I can't find it). Jim - could you please add this link to our forum links? Thanks

After this all night dance on the upper ML let's see how ES reacts to this bullish ABCD at out favorite Fib:

Gold looks good for the final ascent to Jim's area:

The number of unsuccessful attempts at new high in EUR may suggest that a larger correction may be at hand:



But none bullish ABCD failed so far

I asked him about that and he said it's intentional because he feels the google tool is more powerful but hasn't had time to perfect it. All I know is that the google tool doesn't get inside the posts for phrases and this does, so I'm a happy rat now

Originally posted by jarek

This is actually very useful tool. And surprisingly no link on the forum main page is leading to it (or at least I can't find it). Jim - could you please add this link to our forum links? Thanks

that purple schiff set seems to be the one in control....twice the .886 at the upper line got sold

Situation looks rather clear now:



This shouldn't have been W4 of any kind so eventually it should go higher than the target zone for such wave

.886 again at the low


now what?

this is amazing

Originally posted by jimkane

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

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