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:

Originally posted by jarek

That .447 is kind of a magic number...

OK - bullish 4PT gone for good:



I wonder if this upsloping major ML produces any bounce at all

Jim,

Thanks for the report info. ECONODAY reported, and I was aware, that there was a big report at 9AM Central time, I was just not mentally alert and I was not following my trading plan. Big mistake on my part. I was overtrading, and I really had no business being in the market before that big report. I hope I learned my lesson.

Thanks again, Jim.

Al Kamego

ES coming into an area where we'll see whether the sellers are for real, or if they just plan to keep doing the roller-coaster trade.

Okay, ES hitting the area. I'll stay short-side bias until they prove something to me, because, again, this is on a precipice here...

Looking exceptionally weak here.

But, despite that, notice how the area stopped the downward movement for 15-20 minutes now...

I'm wondering whether the current decline is just a correction of the recent almost 100 points thrust up, or maybe start of something bigger to the downside:



I don't like this 3-legged CD leg, but will remain open for such a scenario until proven otherwise

Looks like a Lightning trade.

Al Kamego

Okay, are they serious now?

finally...