Getting us started. This should be quite a week.

sirios, yes, that is what I discussed above, but that CD leg ABCD is less than a .786 price projection. Not the BC leg ABCD, the full ABCD in the CD leg. And the C point is a .486. So, I'm already on alert with the shallow C point, and then the price projection falls short of my preferred minimum .786 at the completion point (but I strongly prefer .886-1.128). Add in the very non-impulsive CD leg of that CD leg ABCD, and I don't look at it as a very good ABCD. If the ABCD in the CD leg is going to throw me off a trade, it at least has to be a good ABCD. In this case I don't see it that way.

Very good lesson for me. Thank you very much Jim.

It's just one man's viewpoint and opinion...

Originally posted by sirios

Very good lesson for me. Thank you very much Jim.

4.25 point range for over five hours now. No Oomph to the upside at all. That may bring in some sellers...

Wow, are they tricky.

And just look how they close the futures after that scary little shakeout drop! New high for the RTH. Tricky little suckers...

Originally posted by jimkane

Wow, are they tricky.

Ride until close...

Originally posted by jimkane

There it is! Hopefully this can be a ride until close now, and not another tick game.

Originally posted by jimkane

I think they want to keep this moving up here, but it's a battle.

Bamm!!!!!!!!!!

I wonder where AAPL will open back up? Up 50? Up 100?

How about opening back up at 500 even. That would be a nice round open.

rat, I'm not sure if I defined them in here or not, but the terms I use are in the AFTC book. I follow Miner's convention. I don't use 'extension' as a term at all. We all know what retracements are. 'Internal' means less than 100%, 'external' means greater than 100%. A price projection uses three points, like A, B, and C of an ABCD. It takes the move from points 1 and 2 and multiplies that by a Fib ratio and adds it to point 3, to get point 4. I also use expansion, which is a two point tool, and starts out like a price projection, using points 1 and 2, but after doing the ratio it adds it to point 2 instead of point 3. This is clearly explained in AFTC, with diagrams, so I refer you back to that book.

Originally posted by rat89

Jim, you once clarified the difference between projection and extension here....I can't find it, and I get mixed up in terms....could you point me to it again?