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JI
jimkane
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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...
JI
jimkane
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And we all know what would make Jim the most happy...
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jimkane
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And right up off the pattern it goes, like a rocket.
JI
jimkane
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Posts: 33,089
Watch 8.25, though...
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jimkane
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8.25-9.00. But, it sure looks like they want to finish cash in the +, and at new highs for this move off the LOD. That's what they want. Can they do it? That last push I mentioned?
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jimkane
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Well, I rate today another 10 out of 10 day for this methodology. I only point this out to give some perspective on how the day rated with regard to the approach, not to in any way make any claims about my own trading. That way readers can evaluate the action, do their practice, and have an idea what my opinion was on that action. If I think it was a good day for the methodology, and a reader didn't see much, that's useful information. If one didn't see much, and neither did I, that's useful, in my opinion. One doesn't want to see nothing when there was much to see.
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jimkane
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One tick from the new high for the move. One minute left to futures close... We'll see in the aftermarket if this area is going to push this down or not.
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jimkane
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Futures are... drum roll... Up. At a new high for the move. It's nominal, but it's a start.
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jimkane
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Now, from a technical perspective, I'm still 'hoping' this area here holds and sends it down to a new low, well below the LOD from this AM. I want this bigger area to fail. I want some downside. It's asking a lot, and probably a long shot, given we live in a ramper's world.

"You can't always get what we want. But if you try sometimes, you just might find, you get what you need..." The Stones.
JI
jimkane
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And there's the burst up.
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jimkane
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.447 off the high has been hit with that burst, and a super-key line is just up a tiny bit, as are some other things. It could go a few more points with this move off that last little ABCD, but that's all it should do if it wants to stay weak and make that LOD ABCD fail. It is also possible it may go up much higher to set up a deep 'W2' and then fail.

But, the most likely scenario is it just keeps going up to yet another new high, which would take it over perhaps a much higher timeframe key fractal pattern setup, and that could imply, like I said before, new all-time highs coming. 'The election scenario' I laid out. Run into April/May, correct it and set it up for a super-big run into the election. We'll see. I just like to consider various potential scenarios.
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jimkane
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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.