It is now one way or the other IMO:

Note, also, that 'leg 3' is equal to 'leg 2' at exactly 89.75 (based on my data). This is not a technique I use a lot, but for those that do, it is worth noting. Do not confuse the second leg up and third leg up with any kind of Elliott counts.

One heck of a 'bull' market, this is. Welcome to the centrally planned 'United States of Amerika'.

http://www.zerohedge.com/article/insider-selling-update-2-buyers-50-sellers-ratio-corporate-stock-buybaks-insider-purchases-1

The next key area is around 1300, which I mentioned way back. It's still not too late for it to dump off this current area, but if it doesn't, I know where I'm watching next.

Originally posted by jimkane

My gut says this is not going to go down any time soon...

Isn't this just so setting itself up for a news event, when so many news events are possible/available over the next short period of time?

Thanks, Al. Your explanation helped me understand. You are doing very well with your kane trading!

Originally posted by albert
The DBS on the one minute was based on Kane ABCD points A and C.
Price was looking strong when it completed the DBS, reacted to it (on the 1 min), and headed back up from near the DBS-based 25% division line/21 SMA confluence.

Good Trading,

Al Kamego

I hear the Greece vote is tomorrow at 5am ET.

Originally posted by jimkane

Isn't this just so setting itself up for a news event, when so many news events are possible/available over the next short period of time?

My next area is coming from a much higher timeframe, so the range right now is 1294-1300. The 1.000 ABCD is at 98.50. It could even stretch a bit over 1300. But, somewhere in there is the key zone. It acts like it wants to get there for today's close. Wouldn't that be something, in keeping with my close right at a critical area theory. I'll be staying strongly long-side bias until that area, or until it starts actually moving down. Understand, if the 1300 area gives way, it will be acting like a 'W3', and that would speak for potentially much higher prices. Recall that 1325-35 area I mentioned way back. I give that area very high odds if they can't turn this down soon.

Originally posted by tx_ches

Thanks, Al. Your explanation helped me understand. You are doing very well with your kane trading!

Originally posted by albert
The DBS on the one minute was based on Kane ABCD points A and C.
Price was looking strong when it completed the DBS, reacted to it (on the 1 min), and headed back up from near the DBS-based 25% division line/21 SMA confluence.

Good Trading,

Al Kamego

Thanks, tx. Your posts are impressive to me. I know I have a long way to go to better understand the markets. Buying the Kane book set and educational materials was the best step I have taken as a trader.

All The Best,

Al Kamego

Thanks, Al.

Jim, You are welcome.

Al Kamego