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...

Notice how CL is following the same path here. Look at the Euro dump this AM. Total correlation is back. CL just exploded up and took out a slew of swing points. That bodes well for ES.

It sure 'sees' that ABCD. How cool is that.

I wasn't fast enough

Originally posted by jimkane

It sure 'sees' that ABCD. How cool is that.

Okay, is that it? Full ABCD at key lines. Now we see.

It's coiling like it wants to explode up.

Let's see. Friday. The usual run up non-stop into the close. Key area here. They want an up Sunday night GLOBEX/Monday. And it is coiling at the area, looking like it wants to explode up. Wow. And zero surprise to me.

And they close cash right at the key area. And right after cash the coil explodes and it bursts up. Too funny. And typical. Wow.

Actually it looks like the burst started a tiny bit before the cash close. How bizarre, and odd, this is, to me. I mean, it's great and all, the long bias really played out, even giving another big jump in the end. The key area gave way, it did show itself to be more like a 'W3' as expected, and it is now set up for a nice gap up and go on Sunday night. All according to their plans. But it's just so bizarre... I guess manipulation always looks bizarre to one who recognizes it, compared to true supply and demand price action. But, as long as it loves the techniques, and it sure seems to me like it does, who cares.

Wow, what a close. Big new high for the entire move. Close on essentially the high tick. Up like another six or so points from that little coil Wow. Wow!!!

My next levels are 92.00-.75 and 98-99, give or take. Then it jumps up to a higher timeframe, and those low 1300's levels from way back come into play. Then it really gets moving. Can it do it? With a near record number of bears?

One thing I will say, the broken correlation with the Euro came right back today (note the divergence, though, as the ES smoked to new highs and the Euro couldn't take out the AM swing high) and Euro shorts just hit a huge extreme, a new all-time record. That would imply a monster short-covering rally could happen any second.

If the correlation sticks, then the market would jump way up. Either the Euro specs make money, the market specs make money, or the correlation goes back to broken again. This is going to be very interesting.

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