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???

Nice little 7.50 point drop off my area. Look at the ABCD it formed. CD leg, or 'W3'?

my 2 cents.....this morn i was keyed on watching to see if yesterday low would break in SPX.... OUR WORK SAID NO

If I didn't learn from roofer, I would never have seen the signal all across the board at the low yesterday...sometimes it is hard to believe at the moment it is happening, but you just know what you know...

AND HERE WAS THE SIGNAL AT HIGH....bearish gartley completes at x marks spot at .886gap5@geo.

Charts.

Al Kamego

So, behind the scenes, why did gold, and everything else, dump like crazy today?

http://www.tfmetalsreport.com/blog/3103/no-rest-turd (just the first few paragraphs are necessary)

and:

http://www.zerohedge.com/news/mni-reports-coordinated-central-bank-intervention-sends-gold-lower-intraday

BTW, for you ES traders, today was rollover day, the Mar 2012 contact is the front month now. That in itself produced a curious anomaly, in that the 'old' contract swept all those stops fully this AM, hitting 72, while the front month didn't get even close, with the #F contract not showing the stops hit at all. Very tough charting anomaly...

Is this really headed to 24.50 today???

I mean, as opposed to ending in here, for now, after four pushes down and the little stop run restest it just did.

That is, I'd think that should be it there... Under 'normal' circumstances... But 24.50 is just siren song calling this thing...

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???