Here is my chart of the weekend:

ES new highs for the move coming any time now... Coming right off a .300 4PT, too. Nice. Once that 50 area is breached, I think the next stop is 56. Then we really see, although all I think we'll see is new bull market highs.

And new highs came exactly as Jim predicted:



We entered a minefield for bulls who might get blown up with one wrong step

AUDCAD is making another attempt at crossing ML after a second, smaller correction

Hi Marcin - good to see you posting more and more!

Maybe I should go to the doctor, because everywhere I see bearish 4PTs now

Hi Jarek.
Thanks for warm welcome and support
I'm trying to do some chart work and hope I'm not gonna get fired from my office

Originally posted by jarek

Hi Marcin - good to see you posting more and more!

I know from my personal experience how difficult it is to do job and trading at the same time... This is why I'm out of job now

That's what I expected from the frequency of your posts
Quitting job and trading for a living is a very long-term goal for me.
That's why currently I try to trade daily and 4 hours charts rather than lower timeframes.

Was there a wrong step already?

Swissie bearish ABCD bounced of .447 grouping, broke off ML channel (red lines) and immediately formed harmonic bullish correction.
That's probably what Jim took into account yesterday:

http://www.mypivots.com/board/topic/6694/1/swissie

And now Druckenmiller joins Gross and Grantham. Maybe it just took one person (Gross) to say out loud the Emperor has no clothes? At some point the bond vigilantes will overwhelm the Fed. Maybe not yet, but some day...

http://www.zerohedge.com/article/druckenmiller-calls-out-treasury-ponzi-scheme-its-not-free-market-its-not-clean-market-ident