ES closed strong and looks good for a strong start of the week:



However I'll be watching closely bearish ABCDs on the way up since long term questions remained unanswered yet:

IBM beats and is trading up. What a surprise.

And there's another new high for the ES move.

I'm seeing ES as a 'hold into GLOBEX on a partial for a further run' type of situation.

INTC trading way up after hours. Like I said...

Well, they set it up nicely for a big up day tomorrow. I'll see how they handle 16-17, which I expect to see soon, and then go from there. I'd suspect the correction is totally over now. New highs coming soon. IBM is trading at new all-time highs right now. But, I'll just go with whatever it sets up.

IBM is down now???????????? Huh?

Hmmm, the critical 'new signings' were down by more than 1/2. They don't like that.

Wow, look at that illiquidity jump in ES, over 2 points on a gap on a tick chart. ES now up +4 @ 12.50. Getting to my area. So far so good with the hold into GLOBEX read. CL looking ready to move up off its ABCD.

confusion reigns... i spent my time away revamping my trading... adding a momentum list to my regular list with the intent of beating the breakout traders to the punch with our tools.... worked extremely well these last 2 days(bidu,sina) the 382/87 is in place in indu and worked well today in conjunction with .886 on gap on 5 in spy today( traded sso)... no one should be surpised at the action in INTC....886 ON GAP ON 5 said forget about big target, think long.... with all the bad news piling on in GS... IT DID WHAT OUR TOOLS SAID IT WOULD DO... triggerd at .886 on gap on 5 and went to target, then turned...the confusion is this... the IWM,TNA are not participating....i am thinking the top is in for this swing while spy and dia go to new highs... i follow two elliot traders i respect... they are thinking 3rd of 3rdup.... but i just dont see the volume or the advance'decline numbers...it feels like money is being drained from this market at rapid rate.....charts

1314. Pushing up on the key area, just touching the early part of it. I'd love a little ABCD in here and a last push right into it. But, I'm not so sure much will happen here. Maybe a pause, or a bigger checkback. It's really the last 'good' spot to expect this to rollover if a bigger move down is still under way, but I just can't see that happening, much as I'd like it to...

I think it may head for the lower //, not even the ML. I've been thinking 35 since forever. Understand, though, this is really just an index against the Euro, which is by far the heaviest component. If the DX was going up, and the dollar going up against all currencies, the buying power of the dollar could still be going down, even rapidly.

All I care about is the buying power of the dollar, and if you look at gold, silver, oil, foodstuffs, cotton, etc., you can see what is happening to my buying power. This is true in all currencies, even the powerhouse Aussie. It's just losing buying power a little slower as it rises with respect to the dollar. All fiats are on their way out. Do they go together, or do they fall one by one in big explosions...