I tried to find Jim's missing upsloping lines coming through the current area and here's what I've come up with:



I'm not sure if these are the ones, but if not, that would mean there are more than 4 important lines, which would only add significance to this area

Thanks, Jim. I drew a picture of what I think you are saying.
ES 3 minute 6-22-11.

Originally posted by jimkane

The problem here, as I see it, is that the TNA is a proxy for the S&P, which is best observed on the 24-hour trading session via the ES, in my experience. If one looks at the ES, it was clearly a 5-wave up move off the GLOBEX low. The move highlighted was the 'W4'. It pulled back one tick below the .447, and was exactly the same price pullback as the 'W2', to the tick. The key line was just a sliver below this level. The high of 'W1' was right in there (intraday I am not strict in that the low of 'W4' can trade a few ticks into 'W1'). It would be expected that it would pull back to the level that it did.

ES 15 minute at a crossroads.

Wave action in TNA today was eerily similar to that posted for ES wave action yesterday.
TNA 3 minute.

WOW - after 35 points down in 24 hours, now almost 30 points up in 12 hours. Difficult to say which way is the line of least resistance now . Here's my current chart:



Even if it was THE .886 at yesterday's bottom, bulls deserved for at least some rest here...

It's interesting to note that major commodities didn't share yesterday's late enthusiasm in the stock market:

Interesting situation in EUR:



After such straight shot off the bearish ABCD to the Game Zone, probability favors the failure of an ABCD. If this one plays out regardless, it would be a sign of the underlying weakness in EUR.

Originally posted by jarek

... bulls deserved for at least some rest here...

And they are resting and may sleep well since it's far away from any danger to their positions:

... even when sleeping, they've been able to reach the Game Zone

Rise and shine bulls!

This bullish KZ ABCD should hold if bulls' march is about to continue:

I have no problem if you post in the Kane public area. If we get any responses at all that are even slightly critical I'm going to delete them, no response. I am not going to address posts, as I am not going to get involved in that. So, expect responses from other area public 'regulars' to get deleted. I may also post a note saying this is 'my' area, and it is not for questioning the posts, it is for observing the posts, and replies that are critical will be deleted. Just letting you know ahead of time, roofer, what I'll be doing.

As far as viewing posts, I believe you can't see charts unless you register. You can read the text, but the charts won't show. Registration is pretty easy, though.

Originally posted by roofer

it has been so long.. i have 2 questions. can anyone just hit my pivots and view the public areas.. or do they have to join? and... jim asked us not to post in public areas... i have been talking to different group of traders.... would it be ok if i did presentation in kane public area for them to see? that would be easiest for me... and who knows .. we might get some new blood.