It is now one way or the other IMO:

Rare indeed.
Stat on twitter from bespokeinvest:
5 days in a row of 0.75% gains or higher has only occurred 7 times since 1928. Today might make 8.

Originally posted by jarek

Such 5 green bars in a row are rare even in the best bull markets...

I'm not going back to hunt up my quotes, but recall I said 1325-35, and if that one area gave way, it may be fast. I also said by Friday, as crazy as that seemed. It all came to pass...

Great stat. I can't recall ever having seen it do this before. And the crazy part is, now it hit the area I've been waiting on, who has the nerve to short into this? Recall my comments on strength into a key area? Scaring me beyond comprehension into a key area?

Originally posted by tx_ches

Rare indeed.
Stat on twitter from bespokeinvest:
5 days in a row of 0.75% gains or higher has only occurred 7 times since 1928. Today might make 8.

Originally posted by jarek

Such 5 green bars in a row are rare even in the best bull markets...

Three pushes into the area on the 15-min... Does it even matter?

I have a feeling we are headed for strong new 'bulls#%&' market highs soon. Recall how every time in this market people tried to find the bearish 'W2' spot in this general area they failed, and the Midcaps, Russell, and Trannies were leading, usually already at new (sometimes all-time) highs at the time? Look at the Trannies. A stone's throw from new all-time highs... Midcaps and Russell looking very strong, well past the equivalent spot in the S&P. I'm thinking any sell off in here (or, more likely from the 1350 area), will be just a sucker trap, and up it goes. I think this move will be the sensation of the year. We'll see.

Originally posted by jarek

Getting decisively above this downsloping TL and breaking to the upside all possible bearish ABCDs here, could suggest that the recent action was a bottom forming process:

Click image for original size

Who (beside Jim of course ) could expect at that time, that we would be approaching this rising ML 3 days later... ???

It is kind of odd that I really did see this as a very real possibility. I was even surprised myself that I suspected this may happen. I'd love for this area to hold, and we can resume bear operations, but now I'm starting to be very cautious in here. The MRRD's have total control of this now. I see the geometry, and if triggered I'll look to short plays, but right now, until it triggers, I am 1,000% on long-side bias.

Originally posted by jarek

Originally posted by jarek

Getting decisively above this downsloping TL and breaking to the upside all possible bearish ABCDs here, could suggest that the recent action was a bottom forming process:

Click image for original size

Who (beside Jim of course

) could expect at that time, that we would be approaching this rising ML 3 days later... ???

Well, if this area is to be respected, it has to happen pretty much in here (my high end number is 1335.25). In other words, that was it. Hard to believe.

BTW, this week's move in 5-year yields was the biggest percentage move ever.

http://www.zerohedge.com/article/epic-bond-rout-leads-biggest-weekly-surge-5-year-yield-history