Wow, that was a sweet little 1-min bar stop run breakdown there. I love it. Maybe that's all the downside it has, though. You know the games they like to play before they do a Sunday night GLOBEX/Monday run up. But, one of these times we'll get some real downside... It's sure all set up for some right now, as discussed previously. I'm patiently (Hah!) waiting for it...

All things being said, all the technical price action and all the 'fun' today, the reality is that this has been in a 6.25 point range for around six hours... Again it expends all its energy in the overnight.

Now watch here. 'Retest' of this ABCD with a grinding 'trendline creep' just begging to explode to the upside, as everyone waits for the downside break. Manipulation central. Let's see.

A little bullish tick 'W2' ABCD here. Let's see.

Right off it. But...

But...

Originally posted by jimkane

Right off it. But...

And into the close it hits... 18.75. Keeping in mind these are centers of areas, and that I refined my work and noted that the 1.618 price projection was at 18.87, I'd say it went right to my area, huh?

Originally posted by jimkane

Now, I don't see much chance they will sell this off into the close, but if this level does give way and they do come in to sell it, I'm watching:

18.25-.50

16.00-.50

Amazing the things one can find even on a 'slow' day like today.

So, despite the fact that I don't expect much of a reaction off this big bearish 'W2' area, it did, indeed, react off it, and do it in a very technical and structured manner. This sets it up nicely for additional downside, which, again, I don't really expect. But, I am not ignoring the initial reaction, which I thought they'd try to prevent, and any price action that implies additional downside. In other words, 'Let's see what it has to give', in case that's a lot. "You neva, neva know."

I'm posting this in here because it relates to my one scenario about new all-time highs coming. It's not economic as much as trading related.

http://www.tfmetalsreport.com/blog/3320/santa-out-front

You need to listen to the YouTube presentation from Jim Sinclair. Now, I could summarize the whole thing he did in probably under a minute, so understand it is insanely repetitive. It is also obvious stuff I have known for awhile. The point is, it is a fairly easy summary to understand for my readers.

Bottom line is, much, much more money printing is coming, we already knew that, and that would, all things being as expected, lead to higher stock prices, higher gold, crude, commodities, and a lower dollar, as it has for going on three years now. So, same old, same old. Just something to consider.

Originally posted by jimkane

Okay, so overhead I'm watching these levels:

37-39

50.25-52.25

This is based, of course, on this A+++ 'W2' area here giving way. We know 'they' want nothing more than to take out that high, gun this up, break the big fractal pattern, and send this to new all-times highs. 'Up until April/May, drop it down, get lots of bearish talk, run it up to new all-time highs for the election.' To me, it's almost pre-ordained.

And now 5.50 points off that, in what? An ABCD. But I bet this is no CD leg, but a 'W3'. It's sold enough off that big 'W2' spot, it's now time to get to work, and get to setting those new highs. If that was a real 'W2', sure, it could do a smaller 'W2' 'retest', but get serious, how many 'retests' does it need? The clues are not pointing me down here so far. Get read for some big 'up' coming.

Originally posted by jimkane

And into the close it hits... 18.75. Keeping in mind these are centers of areas, and that I refined my work and noted that the 1.618 price projection was at 18.87, I'd say it went right to my area, huh?

Originally posted by jimkane

Now, I don't see much chance they will sell this off into the close, but if this level does give way and they do come in to sell it, I'm watching:

18.25-.50

16.00-.50

I think it also pays to look at other markets when doing 'intraday swing trading' (daytrading to most). Gold, the currencies, and crude were anything but dead today.