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:

j- you may be right... i would prefer a completed measured move... and the big dog to sell down to its longstanding target.

am I totally missing something?

hahaha!!!!anyone who hangs around here is totally missing something!

didn't think it would stop there....

Originally posted by rat89

am I totally missing something?

Yes, I mention that to people who ask. He also shows the 1.902, which I had figured out via the golden rectangle diagonal I showed in the book, and then saw it in something on Bryce's website. I have actually not read any of Bryce's work, not even to this day, and wasn't aware of what he had developed when I wrote my books. But I did see the .447 and 1.902 there after I did my books.

Given everyone has heard of the 2.236 (which, interestingly, many reject), the .447 is an obvious reciprocal. The Fibs I think I developed first are the .886 and reciprocal 1.128 (Pesevento started posting this very quickly after that, or, should I say, his student Kerry S., since he wouldn't post the .886 because of a conflict between him and Scott at Harmonic Trader, but in recent years Pesevento started posting the .886), the .685, and its reciprocal 1.460, the .564 (others have since figured out how I actually derive this, and hence perhaps others did before me, I just have never seen it mentioned anywhere pre my writings), and its reciprocal (which I basically don't mention much, on purpose). I may or may not be the first to 'publish' the 2.058, I'm not sure. I haven't seen it pre my writings, but it could be out there. There is another number or two I haven't mentioned to anyone, but they are minor, so they aren't really needed.

The point really isn't, though, whether or not I was the first to ever come up with these, I mean, who truly cares, I don't (but I still say no one else has come up with the .685/1.460, ever, anywhere, at any time in history, and especially not during the time of the ancient Greeks, as one person claimed but couldn't substantiate), it's what do they do with those numbers. How I use them is what matters, and Bryce doesn't do anything with the .447 like I do (and I don't do anything with anything like Bryce).

Like, take the .886. Is roofer's .886 gap technique all due to my .886? Not really. Is Scott's bat pattern all due to my .886? Not really. Both needed the number and the knowledge of it to become techniques, but the masterpiece is in what was developed from that. I knew the significance of the .447 when I started working with it. That's the masterpiece, how I developed techniques around it.

In fact, when I first started with the concept I was using .443, as it was 1/2 the .886. Why 1/2 a key Fib? The .564 was 1/2 the 1.128. I didn't know how else to derive it, I had found both areas by experimentation, not derivation. Then I found out how to derive the .564 properly. I saw that .443 was an estimate, and I then figured out how to derive the 'correct' number, the .447, from the 2.236. But how I use all these numbers, which mentor students get a lot more detail on, is what matters. No one has done that before. So, don't get caught up on numbers, they are just numbers. Focus on what you can do with them.

Originally posted by roofer

jarek- you asked in the past if we are the only ones who know of the .447... well great minds run in the same rut and will all make the same discoveries.. the .447 is listed in bryce gilmore written work as important fib that predates jim's written work... the .486 is listed also.

say what you see... abcd @.382

that has been bothering me all day....the disparity between the timeframes...

Watch the bearish ABCD forming in here, for clues. I'm long side intraday bias in here, but very cautious, as we may be on to something big on the downside. But for now, up is the direction. This ABCD will be the first critical testing area, and I won't push the envelope with the 'bullish' bias. I'll comment on things shortly.

Watch the ES in here very carefully. It is acting like it could dump. Just a caution.

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...