Welcome back everybody! I just returned from my longest holidays in many years. And it looks like the best trading action of the year started just after I left and lasted for whole that period... Coincidence? :-)
Fortunately charts tell us, that it should last for at least some time to come:

??

ahhhhhhh..... if the world was perfect..... they would all work this well.... gone at target

?

will it see this 1.128?

thinking out loud...the last turn was all about qqq at .447....tagged it at 5436.....roofer has pointed out the rotation in the indexes so you never know....just watching it

If this keeps rising, and I see no reason it won't (although any 'bad news' out of Europe and it probably would drop like a stone), the next major area I'm watching is the big bearish ABCD (1.000 at 1241). There are other areas to watch, but that's the next big one. After that, the 'W3' level, and that puts it into the 13's. There is also quite a level around 1265-1280, and I think it would really want to get there if it takes out that ABCD level.

All I know is I'm strongly long-side bias until something changes. And when it does I'm planning to switch so fast it won't even be possible to follow it with the eye... Like Tim Knight over at Slope of Hope said, if they do get this up to the upper levels I mentioned, he feels it will be the greatest shorting gift in the history of trading (I'm paraphrasing, but it was something like that).

is tim a kane trader?

BTW, in the short-term, this is acting 'toppy' in here, and I suspect it wants a bigger correction any time now.

Nope, not at all, he's just someone one of my students reads, and so I checked him out, and he posts some good articles and stuff. He seems like a decent trader.

Originally posted by roofer

is tim a kane trader?

finally...