I sure wish someone else would step up and start these weekly topics...

Today/tonight should be exciting. After that move Friday, and all the geopolitical and financial action over the weekend, well, it should get this moving. The worse the 'news' the higher I expect it to rise. In 'the old days' bad news meant the market would go down. Nowadays, and this is just my own thinking on the reasoning, the worse the news is the more the manipulators step up to goose the market so sellers don't dare hit it.

Oh, so what that the futures open down a few points. They'll go straight up from here, watch and see...

They are 'basing' it here to get it ready to jump up. Watch this bearish ABCD here. When it fails, it's clear to run. Okay, so it didn't go straight up, but you see any sellers? No Greek bailout, this was supposed to be 'do or die' for the entire planet if this didn't get done by the Sunday open. It didn't get done, and the futures are down a point and a half and the Euro was just up a little while ago. What does it take for this to go down? The answer: a giant asteroid splitting the earth in half... Nothing less will do. And I'm not even sure that would do it...

Time for some clues. Look at the bearish ABCD at key lines in gold right here (note the shallow C point). Look at the small bullish ABCD in crude right here. Study the 'context' and decide if either of these look like viable setups. This, as the ES sits on its ledge, trying to decide if it wants to drop to 30-31, or the next levels I am watching around 27-28 and 23-24, all give or take (I'm not in the mood for posting the levels more precisely right now).

No responses, eh? Okay, are you bearish on gold in here? If you aren't bearish in here, would you take a bearish setup?

You can lead a horse to water...

Okay, so far CL moving up off its ABCD, and gold down off its 'correction' (why didn't I say ABCD?)...

Here's what I think is one of the best blogs out there for following the PM's and getting some additional perspective on what's going on.

http://www.tfmetalsreport.com/

Jim, which timeframe do you mean?

Originally posted by jimkane

No responses, eh? Okay, are you bearish on gold in here? If you aren't bearish in here, would you take a bearish setup?

they wouldn't do that, would they?

Post like this has incredible value for my learning process. Thank you Jim.

I've got many questions how to act in few areas which are shown on the chart and I found are critical in early stage of trade, but I know you can't answer it on the forum. I have ideas and experiment with it and I'm very interested in opinion about it.

Originally posted by jimkane

Okay, here's a chart showing some of my posts, marked at the times, as best as I could do it, when I posted them. Also check out the post I made at 15:53:40. I couldn't find the room to squeeze that one on the chart. Everything I mentioned was based on the methodology. Look at some of the other posts, like the one about the lines coming in. Look at that EXP ABCD. Study the higher timeframes and see why I thought this may go up (other than it was Friday close and time to prep for Sunday night GLOBEX/Monday).

No matter how many cool areas lie below, or how much I want this to sell, 'they' want it up, and the defense of the GZ was a clear signal. Note my post before I started this sequence, about rigorously defending the LOD via the GZ. It wasn't my first mention of that. Clues. Technical factors. The methodology. What roofer likes to call 'the tools'. Now, do some work. Study what led up to what I have shown here.

Click image for original size

Chart created on QCharts, courtesy eSignal.