Okay, no one has started the new topic, so here it is. Silver ready to hit 48, gold at another new all-time high, ES futures are up and rising, the Aussie is looking strong, CL another new high for the move, and working on that contract high. Same old, same old. 'Risk on'.

ES ends the week with a burst up to another new high for the entire 'bulls#%&' market. I'd be surprised if they did anything else. No profit taking there. That makes new all-time highs for the Trannies, Midcaps, and Russell today. All-time highs.

And another new high for the ES, as they close the after-market on essentially the high tick.

Okay, well, that's enough posting for me. See everyone Sunday night for another up session, and new highs for gold, crude, ES, Aussie dollar, Swissie, et al, and new lows for the USD. Same old, same old. You'll know we are ready for the final highs to be in when the USD hits zero. I think that is all that could stop the rising. Just an opinion.

Okay, one last post... Aussie futures just closed, set another new all-time high, 1.0920, closing on the very high tick of the move. They must have closed it while they were lifting offers at another record high! Although the dot.bomb bubble was insane, I think what we are seeing across the board right now is far, far more insane.

Interesting lines on SLW 60 minute.
I noticed the TD ABCD - marked 127 and 78.
The 127 was at the ML of the brown set. I dup'd the brown set and the 78 came in at its WL1. I then put on another set - the red set - and it overlaid EXACTLY with the brown set lines.
The afternoon leg up stopped in the KZ.

Nice chart, tx. There is some real cool geometry going on with this one. The things I could show you... There is geometry on all the ABCD pattern variations, in fact. It isn't all necessary for trading, of course, and some of it adds little to actual trading, but it is conceptually important/interesting. For example, I contend that all ABCD variations I use can be derived from geometries of line grids, grids which can be duplicated with lines sets. So, although ABCD's can act as corrections in a trend (the way I use them for trading), the patterns are geometric constructions if you will, from line grids. And what are those grids? To me, harmonic frequencies (frequency lines) of price action. And so on.

For those that are mathematically trained, what is a sin(x)? Like sin(75) or whatever. In trig they teach you the sine of a given angle is the opposite side over the hypotenuse of a triangle, and you start to think that way. That is one 'definition'. There are others, like a continued fraction definition (I personally love that one). But, in my opinion (and the opinion of many), the sine function is actually a Taylor series expansion. I consider that more than another definiton, but what the true essence of what the function is, where it comes from. The other views are characteristics that come about because of what the function essentially 'is'.

I think the same applies to ABCD's and geometry. It all comes from 'somewhere'. The geometry is a reflection of what comes about from the frequencies that are naturally inherent in price action. We can find things about the geometry of triangles from sine and cosine, but sine and cosine are not 'geometries' of triangles, they are Taylor series expansions. They can show us geometries, though, in the real world.

Frequencies aren't geometries, and geometries aren't frequencies, but those frequencies can be seen, in our human eyes, as various recognizable geometries. Make sense? It doesn't really matter for trading, all trading requires is the ability to know what geometries to look for and how to use them in a 'Trading Plan', but it is interesting to consider what is driving these geometries, if nothing more than for fun and curiosity's sake. At least that's my take. Here's a few links for those that want to follow up on what I was saying mathematically on the sine function.


http://en.wikipedia.org/wiki/Sine

http://en.wikipedia.org/wiki/Taylor_series

This is a must read (it's quick) for all those that wonder why I keep going on and on about the dollar (and all fiat currencies, which is all of them) going to zero. Literally zero. What this guy lays out is basically my exact scenario. Take it with a grain of salt, but I think it is the most likely outcome.

http://www.zerohedge.com/article/doug-casey-precious-metals-vs-usd

Originally posted by jimkane

Okay, well, that's enough posting for me. See everyone Sunday night for another up session, and new highs for gold, silver, crude, ES, Aussie dollar, Swissie, et al, and new lows for the USD. Same old, same old. You'll know we are ready for the final highs to be in when the USD hits zero. I think that is all that could stop the rising. Just an opinion.

I've been watching how the miners are not following the recent move in gld.....

did we just see an abcd, where the cd leg was an abcd suggesting a sharp move up into the 67 - 68 area?

Some theories I've heard about that:
The central banks are buying gold but not miners.
Miners will use options to hedge their cost of production.

I don't follow the commitment of traders reports but see what I mean in the columns for longs/shorts (see managed money column and compare):

http://www.cftc.gov/marketreports/commitmentsoftraders/index.htm
http://www.cftc.gov/dea/futures/other_sf.htm

Originally posted by rat89

I've been watching how the miners are not following the recent move in gld.....

Originally posted by jarek

10th bullish ABCD in the recent uptrend in the making?...
This must be really boring for all long on EUR...

Almost fully completed now: