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:

very possible....I have this nagging feeling that we just dribble into the close on the indexes, though the other possibility is a mini melt up to close it at the most uncomfortable spot possible....or either one could turn into the other at a moment's notice... there I think I covered it

Originally posted by tx_ches

Not sure there's enough volume left today to do any set up. The grind might throw off the timing so that the dbl whammy doesn't happen at the "right time".

That is something, all right. But it looks bullish as all get out to me. Like you said, though, if it fails...

Originally posted by jarek

There is an interesting symmetry in the ES M1 daily chart, where today's HOD was exactly equal to the February 18th high:

Click image for original size

Bulls may be in trouble if it doesn't break up from here

Yes, some people were calling that a reverse H&S. Of course, it is totally the wrong context for that pattern.

Originally posted by jarek

There is an interesting symmetry in the ES M1 daily chart, where today's HOD was exactly equal to the February 18th high:

There's another new high for silver, searching for 47. Gold close to another new all-time high. Dollar at a 40-year low against the Swissie...

Gold looks to be wanting to shoot for the all-time high today after all. CL sitting within cents of a new high for today's move. Only the ES is struggling. That line sure is holding it fast.

Note that the ES is a small bullish ABCD in here, and that the ABCD is 'creeping' the key line. This might explode up into the close.

Yes, it's a .786 ABCD, and yes, it sure did just trigger there. If one thinks this has room to run on the upside.

Notice gold struggling at the level just a tiny fraction under that slew of highs. Will they sell it, or will it come in for a launchpad?

wow....at 3:30 abcd into the 886....unreal, and more simple than I was imagining....

Imagine the stops over all those gold highs...

Silver at a key SL and many Fibs that tend to line up with SL's and price flow areas. Will they 'break it out' over all this, or turn it down? Right as gold struggles, CL toys with its recent highs, ES sets up for a blast up, and the holiday trade winds down... Interesting.

Yes, and it came off there like a shot.

Originally posted by rat89

wow....at 3:30 abcd into the 886....unreal, and more simple than I was imagining....

Click image for original size

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...