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???

Okay, that's it for me. My 'new' schedule is to take a few naps and stay up for the European open. Good thing I'm a west-coaster. So, I'm headed for bed (anything good happens on a bathroom break I'll post). I hope all this posting helps a few people out. Trust me, get out your ES all-sessions charts, look at my posts and time stamps, and work your a#% off. Study this. I didn't post this for fun, I posted it to give everyone something to work on.

As far as my view on things now, given I have to go to sleep, it's a roofer scenario. Put the stop in, and instead of a profit target I like to use a trailing stop, and let it do its thing. Imagine if this got down to 40-42? At least I'll have something to dream about. I'm a bit wary this could complete the final 'retest' on a picture perfect H&S pattern here. Not to mention more money printing than is unfathomable, and Carl's call for a big upside move. But, look at joed's timing post... Be careful is my point. More upside may be coming, you never know...

Oops, got that post posted, and there's the new low for the move. Is that the CD leg of an ABCD? Maybe. Maybe it's the 'W3' I want... It does what it does, and the miracle of the trailing stop technique does what it does (assuming the technology works as expected...). That short read isn't looking so stupid now, is it?

Swoooooooooooooooooooooosh. I want to go to bed. But I can't. Look at that! 6.50 off the 59.00 high so far.

51.50 here and 49.25 are key levels to see if they pick this back up. 7.50 off the high so far.

Watch that 51.50. Good night.

51.50 was the low. Up to a bit beyond that 1.272, all the way to the 1.618, at 61.75 (I said watch 'around 60'...). Just over ten points in a smooth trend. Pretty amazing. 1-2-3-4-5 and then down just about ten. Other than the 'W4' overlaps 'W2', it was another 1-2-3-4-5 down. What action.

Originally posted by jimkane

Watch that 51.50.

Good night.

They want up on this real bad.

And right on schedule there it is!

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???