Let's see if this works....never tried to start a new topic...

having bounced off the .886 friday, will it aim into the area of interest up at the .886 of last week's high, or into the box at 1.128 - 1.27, and what will it do up there?

There is some symmetry in that both blue arrows are at .886....ultimately you might expect a move that mirrors the mid march - may move, but without a significant pullback into an abcd, which we haven't seen yet?

No, this was a small one going back like 45 minutes.

Originally posted by rat89

with x at the july 12 eod low?

Originally posted by jimkane

Notice the pseudo-4PT this is starting to launch off of.

If anyone has a few minutes for some humor...

http://www.zerohedge.com/article/power-0-0-0

thanks

Originally posted by jimkane

No, this was a small one going back like 45 minutes.

you have to admit, this is a pretty interesting spot

bingo

GOOG up over 55 from the close in the aftermarket, and rising strongly. Blowout earnings. Knocked the cover off the ball as it sailed out of the park, out of the county, out of the state, off the planet, out of the galaxy, and, in an attempt to break all known laws of physics, out of the universe. Maybe this is the proof the physicists needed of the multiverse theory, since the ball had to go somewhere if it left this universe. I guess this is all they need to confirm the economy is in fact going gangbusters.

That puts GOOG up around 110 in a few weeks. I agree, so much has changed with GOOG, and so much has come to light that wasn't known just a few weeks ago, that I think adding about $35 billion (yes, billion with a 'b') in market cap is totally justified. I mean, it surely is worth another $35 billion than it was a few weeks ago, right? Especially in this economy.

Update: Oops, it's up another $10 or so, so let's say 120 off the recent low, and that would add another say almost $4 billion in market cap just since I started typing this post...

Okay, GOOG up about 70 since the close, add another how many billion in market cap? About let's say $40 billion give or take in a few weeks. To get an idea about that, the entire Wendy's/Arby's group has an entire market cap of about $2 billion. The entire Safeway grocery chain is about $8 billion. GOOG just added both of those together about four times over, in barely a blink. No, this market isn't stupid/broken.

kz here in case it doesn't keep going...

So, on news that no debt deal was reached (I think that was the trigger), the ES just took about seven points straight off, to a new low for the move, and guess what, put it all right back on. Wow, the only surprises would have been if it didn't do that, and also how long it took it to put it back on. Also, to make it more comical, S&P came out while it was rising and said there is now a 50% chance the U.S. will be downgraded within the next 90 days.

Understand, there is no way, theoretically, that it would be anything less than catastrophic if this happened. It should cause a total implosion worldwide if it came to be (for example, most if not all pension and bond funds can't hold treasuries any longer if they are not AAA, so they'd all have to sell at the same time). And that news checked the ES back a whole 2.25 points, which it then made right up promptly, as it finished making back the entire loss.

We are facing potential events that may go down in the history books as triggers for some of the biggest, epic disasters in human history, and the market can only think about rising. It's just beyond surreal to me...

roofer,

I am very sad to hear about your recent misfortune. I will keep you in my prayers. I pray you have a complete recovery and return to your full strength and health. God bless you.

Good Trading, Al Kamego