Just a few hours until my favorite trading time of the entire week. So, how big a gap up today? Slight gap and run? Big gap and slow grind up? After all, it's Sunday in GLOBEX, the only direction is up, right? Recall how they closed this right at a key area. Now, geometry says this may be headed down, right? Yet they like to gun things on Sunday night GLOBEX/Monday. All starting from a big coil. I can't wait...

Watch the EXP ABCD area right in here. Not that that would make any sense in this layout.

Sure stopped it dead. Key line, too. What a battle. But this battle, I think, will be resolved to the upside. Soon.

Like I said...

But understand, this is still in the low end of the range. That last little push may be it, or another one like that, and then roll back into the meat of the range. We'll see. I think it wants 'Friday magic', though.

Notice the overhead SL on say the 3-min or 5-min right in here.

Amazing how the SL just stopped it dead and checked it back. For now. I always find it amazing how one can find all these various things we discuss in here, and it produces a reaction of some kind. And the bigger direction changes with follow through seem to frequently happen when there is the confluencing synergy of many factors in the same place. More often individual factors, or a few of them, produce checkbacks and such, and major synergies produce reversals, in my experience.

Watch as it takes a run at the HOD here.

Originally posted by jimkane

Watch as it takes a run at the HOD here.

So, it has now hit the range of the bearish ABCD, as suspected, and above the 'low end of the range'. I still think this wants to be a 'W3', but it will have to truly have some program buying 'Friday magic' to fulfill the 'W3' area before the close. I would suspect it should have some trouble in here, instead. But you never know with these maniacs.

And since it hit the area I posted earlier and reversed, I have been back on the long-side bias short-term intraday, so I would love it if it explodes from here. But, it is getting to areas where it may be done, so I'm taking that into account as I watch the price action.

Monday holidays are great, you get to play tennis on the weekend at the weekday rate