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:

easter eggs

Those that know me know I love to quote from movies, or paraphrase with the same inflections from a movie quote. This is from the movie Lost in America, where she is chanting at the roulette table 'C'mon 22, C'mon 22'. In this way I'm like DiNozzo in the TV series NCIS, where I know all these movies and I quote from them all the time. So, this was 'more funny' if you knew the reference.

Originally posted by jarek

Originally posted by jimkane

... I can hear them chanting 'C'mon 17, C'mon 17'...

I have never been chanting my target area while in trade, but maybe I should start??

...

I'll quote some of my posts from yesterday, and leave it at that. I will say, there is simply no way I could expect myself to read the market better than I did. Although it may be possible to do so (with tomorrow's newspaper?), I can't imagine that I could do it myself. This is 'The best that I can be' (from the Army TV commercial).

I feel there is no need to be able to read the market better than this when using the tools. At some point one has to realize when they have enough, and then just apply it over and over. roofer could tell you this more than anyone. The latest post comes first, and they get older as you go down. Too bad the quotes don't give the times, but you can look them up and look at the charts at that time.

Originally posted by jimkane

...Oh, and BTW, after a quick little shake, CL is now starting to rise rapidly, as is gold, and the Euro. Hmmm, I wonder if the DX is getting crushed? You know it is. Nice little one day wonder on that rise. Silver smokin' at another new high, over 44.30. Same old, same old. 'Risk on'. I say the odds that the ES blows out over this 16-17 area are about 99.99%. Yeah, right, this is going to turn down here. Sure it is. Now, how's that read on holding some into GLOBEX look now on that ES? Maybe I need a third saying: "It's not bragging, it's just pointing out what the tools said."

Originally posted by jimkane

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...

Originally posted by jimkane

...So far so good with the hold into GLOBEX read. CL looking ready to move up off its ABCD.

Originally posted by jimkane

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...

Originally posted by jimkane

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

That's a new high for the entire 'bulls#%&' market in the INDU. But notice the position of the Midcaps, the Russell, the Trannies, and even the Naz. Now, that's rather interesting.

watch spy 132.81

ES TD with ABCD in CD leg (something okay in a TD). Watch the Aussie here for clues. This is a key spot. Can you imagine the ES rising more than appx. the 35 points straight up it has risen, and continuing to do it off a tiny little correction like this??? That would say something.

I am gravely worried that the DX may break down and flush. Silver was laughing at $45, until some 'profit takers' just hit it hard here (by hard I mean a rapid flush, not a huge move), gold, CL, especially the currencies (look at the Aussie, the Euro, etc.). This needs to have been a climax move, or I'm really worried. Lots of talk that China is dumping, bonds may collapse any second, and so on.

and here's your dia at new high....double 1.128......does it go for the double 1.27?

Get ready on the ES and Aussie right here. This is key. I'd say big clue time, but after such a move it may just chop sideways for the rest of the day, as opposed to any selling (unless it goes up with another leg).

magenta fibs are from center of the gap....447 at 13281, low was at 84...if that holds 1.27 is up at 133.54 at line.....or the 1.128....or the 1.46....

13400 > 12951 swing = 1.128 @ 134.57....

but there is some interesting territory up in the 13525 area too...

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...