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...

What now? After perhaps a minor checkback, up to the upper // of your second chart...

Something is not right there, rat. The 2007 high for DIA was like 141.95. This is confirmed with an $INDU chart. Yet your DIA chart shows the high roughly equal to today's high. I can't believe StockCharts data could be off that much. I looked at this a dozen times, and I must just be looking at the symbol(s) wrong or something...

Originally posted by rat89

you do really have to wonder....

Click image for original size

Even the '98 and '02 lows are way off...

My personal answer to that is a bit complex, but I'll try the simplified answer for you here. I like to favor the bigger setups when two opposing setups happen. But I try to go with the direction 'context' shows, the direction of the bigger trend. I almost always defer to 'bigger'. That being said, if there is an opposing ABCD it frequently, in my experience, produces some reaction if there is full synergy there (pattern, lines, key Fibs, other factors), so I would use that for 'bias' on the lower timeframes if I saw a reaction there, and look for setups until it reaches the first or second areas I see off that.

Originally posted by sirios

Jim, we shouldn't try to play yesterday's bullish ABCD because it was against bigger bearish ABCD, right ?

I, for one, am really enjoying this 4.25 point range for about four hours now. I like it when it blows all its energy in the overnight or off a key report (which one would not be holding a very-short-term position through), and then just does essentially nothing for the entire day. It's a lot of fun. I'm so glad it's becoming the norm.

Okay, time for the next mini-leg up off this 38.75? Just to make sure the shorts don't get any ideas?

There's just no way I could be pleasantly surprised...

42.50 next?

Crude may be making a late day run into the pit close.

CME has been strong the last few days. Maybe they have a secret deal going with ZNGA?

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.