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:

CL sure looks ready to explode into 'risk on'.

This bearish ABCD in the move off LOD is sooooo stretched:

'W3'??? This is a very tough area here, though...

... but something must drive $SPX to the target for the move of its test and retest:

They are not picking up CL in here like they would if they were going to 'risk on'. ES rolling right off the area. Now we see if this was just a short-covering bounce off an obvious area.

he's halfway to 886

Originally posted by jarek

Originally posted by roofer

lol!look at jims vote number 447!

Your DIA chart there, rat, shows why this is such a tough area here.

Okay, little tick/1-min bullish ABCD in the ES there, and a reaction. Let's see if they are going to try to take this area out, or not. It has a launchpad to work with.

Wheeeeeeeeeeeeeeeeeeee!!!! Look at it go.

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...