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:

Silver goes above the SL, hits the 1.460...

Gold is really scared of that high. Interesting.

Watching for the KZ pullback. Launchpad, or will they kill it for failing?

ES over the key line now, free to run. Can it?

Kind of a boring end. ES peeked its nose out over the line off the ABCD and then came back down, GC stayed fearful of those highs and sold back down to the midrange again (low end of the upsloping range), CL just stayed near its highs (that was the best of the lot of three mentioned), and silver came back in a tiny, tiny bit off that 'extreme'. Not very good action on the three, but workable, with good management. About what I'd expected after such a violent run up. Sunday night should be quite exciting.

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...