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

A run until close level, for me, is around 51-52.

But there are some things standing in the way. Not that they would matter if the 'Boyz' are going to keep running this. It's coming off a profoundly beautiful area at the AM low.

Why do I think this is about to drop like a rock? Because it looks ready to explode up? Hard? I'm not sure. Nothing on the chart says anything but ride until close. Maybe that's what bothers me. Just a nagging feeling.

Just a nagging feeling a big seller could hit this right here any second...

Probably not. Probably it's nothing...

So, forget the sellers for now. I'm watching 47.00-48.25 as a really tough area. But, when they want new highs, the things that make an area like this are usually totally ignored. So, once they bust over this spot in here (any second now...) I don't think it will encounter much resistance until the new highs.

There's the break. Like I said, it was nothing, likely I just sensed the vulnerability there. In 'the old days' in a balanced market, sellers perhaps would have sensed that and hit it. Not in today's market. Just a throwback on my part to when there was a real market.

Okay, last stop before new highs for the entire move. Let's see if this key spot provides even a slight resistance to them.

47.25 stops it dead. Now we see. Amazing it 'saw' it at all. This is it, folks, do or die, now we really see about this recent high.

Originally posted by jimkane

So, forget the sellers for now. I'm watching 47.00-48.25 as a really tough area. But, when they want new highs, the things that make an area like this are usually totally ignored. So, once they bust over this spot in here (any second now...) I don't think it will encounter much resistance until the new highs.

Amazing, it 'sees' the area. Watch this little less than 1-min bullish ABCD for clues. It may just want to 'come back to trend' and then make that last hour push to new highs. Let's see. Clue time.

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.