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:

i am not sure what to make of this....will oil take its toll?

j- careful...people will start calling you the mad short seller!

Originally posted by roofer

j- careful...people will start calling you the mad short seller!

I'm open for any outcome - either strong up or strong down. Just showing the alternative for all mad long buyers!

In Crude they can't make up their minds which way now:

In Gold the target is obvious and pretty close:

EUR came back to the exactly same line were all the previous short term tops took place:

Originally posted by jarek

Some resistance ahead for Bonds, but I wonder of it matters at all in the current situation...

And yet it did matter, at least initially:



Could this rise be the last attempt to shake off bears before next week's rate hike? That would translate somehow Gross' recent behavior...

there's another set I'm watching just in case that is also juicy fib wise...

Originally posted by jarek

This green set in DJIA looks pretty good to me:

Click image for original size

The main ML is already a multipivot line and when you look closer there was a small test and retest of the upper ML:

We have the biggest decline in ES since the start of this crazy run and it started with a green set as usual:



At the same time Crude, Gold and EUR moved down decisively off the areas posted above. Very curious...

i'm watching 4 swings - the 2 from the 30 minute and these two....1.46's and 1.27's all the way from 124.67 up to 125.22 and 125.48

will they pin it to an extreme into the close? or sell it off and make us salivate over the long weekend?

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...