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???

Such a profoundly significant area we are at now...

was that it? or is there a pullback that takes it into another high?

My primary area mentioned today was 45, but the area centers around 45-47. We just hit 46.50...

Now, if this doesn't hold (I hope, I hope, I hope...), I am watching the ABCD centered at 1241-42, then 1229-31, and then 1219-20. If this takes some time the 1229-30 area may hit closer to 1234-35, with the rising lines. It's all part of the same area. That's a start, folks.

1245.25...

Merry Christmas to Jim,
Merry Christmas to Jim,
Merry Christmas to Jiiiiiiiiiiiim...

Merry Christmas to Jim.

Low 1230's, here we come?

After a 1245 bounce is the most likely case scenario to me. We'll see.

Originally posted by jimkane

Low 1230's, here we come?

I added a post to the economic section. I ask that everyone take the time to read the three articles. They are somewhat long, but I feel they are mandatory for every American.

Wow, is that bounce off of 45.25 weak so far...

I'm looking to see if this is a higher low to form an ABCD off of, or even a 'W3'. But it's so weak...

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???