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?

Al, thank you. I had the needed patience today.

Originally posted by albert

ches,

Good Luck with your struggle.

Good Trading,

Al Kamego

Rat, Nice charts on Spy/SSO.

Originally posted by rat89

you can't say the low isn't right in the kz....is it suicide to go long?

ches,

good for you.

Al Kamego

rat,

good charts and comments.

Al Kamego

wow....cf fooled me again....

spy 60 min

Nice charts, crew.

I wish I would have made my read more clear last night. I almost posted a clarification, but didn't. I was looking for a 20+ point bounce off the lows. I wasn't saying we must be up 20+ points on the day, since I wasn't sure where the low was, or where in the cycle of of the RTH up/down counter it would come. We got 24.25 points off the low. It's just that the low was much lower than I thought it would be before they could bounce it the minimum obligatory amount I expected. Anyway, it did what I expected. I'm not trying to get any credit for that, only to point out that in such situations, a bounce of that size is always 'imminent' and I want to be on guard for it.

I'm keeping a close eye on this bearish ABCD at the HOD. I can't imagine after all that selling this is all it would take to send it down lower, so I'm expecting 'chop in the low end of the range', as discussed many times before, if they can't lift it off some more. But, I'm still keeping an eye on this because you never know when 'risk off' feeds on itself for awhile.

ES 5 minute.
Much to my surprise, the HOD held there (so far) at the 100% projection of the up leg. It is very close (close enough?) to being a 3 touch line - see blue line. The uml of the brown set had 2 retests. Now it looks like price may move down to its ML -- maybe it should be a green set based on the 3 touch line. Will price reach it at the X with the WL of the schiff set?

Gold set another new all-time high in Euros and Pounds today.

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