The debt limit issue should be resolved soon.
Be ready.

This could be a bearish ABCD here, but I suspect some good-sized 'up' is coming, so I'm thinking 'W3'. We'll see.

where is the fear? my guess is in the direction of another big gap open tomorrow...

And just as I am posting that it smokes through the level, acting just like a 'W3'. May have a tiger by the tail here.

Now, while I suspect a buying frenzy appears to be shaping up, one way I watch a level, especially one like this at an ABCD, is to see if it 'peaks around' the level ala joed. Sometimes it acts like it is blowing out a level, and then they reverse it hard after it traps everyone. I don't see that here, but I am watching for it, in case. I see big 'up' coming.

Okay, next level about to be hit. After that, 88 is next. I see that very, very soon.

Okay, third level hit, and it 'sees' it. I'm still watching to see what it does, but I suspect just a tiny checkback and then 88 area...

All this, as we get the 'news' that the vote has been delayed, and it is suspected that 'Boner' doesn't have the votes. Imagine if it failed at this point...

Okay, 79.50 the pullback launchpad?

Boy, would it be cool if this last push right to my third level dovetailed into a failed vote and huge dump. Now, that would be awesome. I don't think the timing is right, but still, if this stopped going up at my level, I'd be happy with that. But, I still think the odds favor a big ramp now as the manic market moods swings repeatedly.

Originally posted by tx_ches

Great job, Al. You caught a lot more things. You are good at drawing the SL. I particularly missed 2 even after drawing 1 and 3. You also caught many more .886. I particularly like your 6.

I thought this was a great exercise on how well the tools can work near a turn as joed has said. For myself, it also showed me that I had made some progress with the tools since the last time roofer gave a list of charts to try them on.

For the record, I did try Jim's two recent detailed postings on action, levels, and turns but gave up in frustration. I never know with his stuff if he means 240 min or 3 min.

Thanks, tx. I spend probably too much time looking at the smaller details and not enough scoping out the "bigger picture," like the turquoise line 4. Kane TD ABCD. That is a good one. I looked at your work and picked it up right away. I do not know if I would have seen it by myself. I need to spend more time looking at larger as well as smaller timeframes for larger Kane ABCDs and structure. Many times I have been mentally involved in a smaller scale pattern, and missed an easy, larger Kane ABCD. This work requires a lot of expertise. Please keep up the good work.

Thanks, roofer, for the invitation for us to try our hand at your techniques on the SLV chart. I am sure there are a large number of things that I missed.

Thanks, Jim, for hosting this forum and sharing your thoughts. There is surely a lot of your work that I don't "get," but I am working on it.

Good Trading,

Al Kamego