Just getting ready...

Happy Holidays to everyone.

Al Kamego

you too al, and everyone

That's a nice 4-Point, Al, even with the .685.

Originally posted by albert

Cool SPY chart, rat.

Here is a chart of a Kane DT ABCD and a Kane 4 PCP. Point C of the Kane 4 PCP was only a o.685 fibo retrace.

Good Trading,

Al Kamego

Click image for original size

Thanks, Jim. That 4 Point took a while to develop and showed me again the importance of patience in trading. KaneTrading rocks, and I am really enjoying the KaneTrading methodology.

Best Wishes for a Happy and Prosperous New Year for all.

Al Kamego

So, last minute run to new highs after this snoozefest? Probably not, but it's fully what I would expect.

And there it is! Right to the HOD. Too funny.

And there's the new HOD and new high for the entire move.

Here's my usual look:

Here's my surprised look:

Look at it go!

Now, one can't draw too many conclusions from this pre-holiday light trading. But, let me note a few observations. The really, really key area, with 58 as the upper end of the range, well, they just spiked it over that. Is it a 'peek around', or is it just one more in an endless procession of areas taken out as this rises to Carl Futia's monster area overhead? So far I've seen zero respect for areas, and these are not small areas, they are big ones. Just look at the huge overhead TL this just took out with that move.

Alas, though, you have to know that everyone sees that TL. And it does it as it prepares for the Sunday night GLOBEX session. And what a chance to really do something with this, in a Sunday night session when Monday is a U.S. trading holiday. What a curious way to leave this on a pre-holiday Friday, on a breakout of a super-key TL and area. And like I said, nothing but a grind up. I can't imagine anything but an entire week of this next week. But, who knows, I could be dead off on that. As I'm wont to say: "We'll see."

And there's another new HOD and high for the move!

I also wish you all Merry Christmas.