So, although I see almost no chance (okay, perhaps one in a million) that this will open anything but up, and then rush up even more, I'm watching 1233-34 if this 1240-41 (Friday's low was 1242, close enough given that 40-41 is the center of the area, not the entire area) doesn't turn it. Like I said, though, it's Sunday night, so it should gap up and run, right?

One scenario is they bring it down a bit more, and then QE3 is announced, along with more Euro bailouts, and then we start Carl's march well into the 1300's, and then beyond. I think they will print until the collapse, as I've always said, and printing almost always leads to higher asset prices. (The value usually declines in reality, but the 'repricing' in devalued dollars has a higher number, like when Zimbabwe went into hyperinflation and in Zimbabwe dollar terms their stock market was the highest performing in the world (from a percentage standpoint)).

So, I think it is just a matter of does it go straight up from here, or do they bring it in a little first before all the additional intervention drives it higher. They may also bring it up a bit, and then down into the early AM, to get better prices, and then up tomorrow. I've mentioned that game in here frequently, too.

Got gold???

A small Kane DT with an elongated Point D completing at Kane Zone.

Al Kamego

amazing

rat,

Your ML work on the SPY is inspiring me. I am reviewing some of roofer's and Jim's posts in the forums here. They are quite a body of educational work!

Today was a gapon5@geo day. I drew the ML sets two ways, in order to compare them. Comments welcome.

Good Trading,

Al Kamego

Chart 1


Chart 2

amazing stuff, isn't it? I can't tell you how much I have learned from roofer and jim....hopefully I will eventually learn and understand more....there is a lot to learn

wow...did you see that reaction off the little .486?

All I can say is everyone go back to my 3:01 post from early this AM. 'They' made it look all strong. Recall how many times I post about when it looks weak or strong, but it's also when it looks that way after a good-sized move already, and it's at a key area. It's a unique look to the price action, and I am convinced they do it on purpose. I recognize it, and post it when I see it. It's a trap. Look back on how many times I've pointed this out in the past.

This time, based on all of what I discussed, I was mostly second-guessing the look it had. I thought the odds favored it bursting up. My own play was for the dump, as I expressed, but I really thought, after all those pullbacks and new runs right back up, that this time they'd probably get it, despite the geometry. I wasn't going to bet on that (can't get long up at 'retail' prices), but I wasn't as confident as usual in the outcome.

Nonetheless, the outcome, right off the area, was strong. And all in the European session, as is becoming the norm. Look at an ES all-sessions chart and you'll quickly see how much more action there is during the overnight as compared to the RTH. And today is quite a good RTH day so far. BTW, look at how it went right back to the same lines, again, for today's bounce...

Great charts and posts, crew.

4 times at line.....break it or collapse?

Watch 50.25 and 45.75-47. Convenient announcement S&P may strip the EU of its AAA rating.

that could wipe out the lod

And, drum roll please... right into the after-market close they hit... wait for it... oh, the suspense... 54.75. How did he know this? How??? Get serious, how is this possible?

Originally posted by jimkane

Now 54 and change in the after-market???