I'm starting this week's discussion.

BTW, I was, indeed, dead wrong, and they didn't gun it up for the new highs, 'respecting' the near 'retest' of the highs, like they used to. But I'm stepping right up to say that that 99% look they gave it was indeed a trap, and it was so good I believed them.

Originally posted by jimkane

In my opinion, and this is just an opinion, I think the odds are over 99% that this will set a new high here soon. I know that sounds crazy, but I just can't see them selling this off in here. We'll see. Like I said, I hope I'm dead wrong, but this is about the most skewed I have felt the odds were in as long as I can remember.

Wow, I'm pleasantly thrilled to see the reaction off the Fed minutes, but I'm totally shocked. No sarcasm. They usually use those for a gun up. Very, very odd.

Originally posted by jimkane

How incredibly odd, they don't like the Fed minutes here. Usually they gun it way up on those...

Understand the plan, as I've laid it out. The Fed is hinting it's done printing money, unless the economy weakens. If the market thinks this is true, it will bleed like a stuck pig. It will fool more people if the 'correction' starts now instead of at the end of April/beginning of May, like the last two years. Everyone thinks this must get to Carl Futia's 1442 (except he thinks it goes straight to the new all-time highs shortly after that), at least, before a short-term top can be in place.

So, the market gets pounded a bit, magically all the reports that have been horrible for the economy but called great are then called horrible, and the next QE is announced, along with some dumd-a#% O'Bummer economic stimulus plans (that go right to the big banks, of course, not you and I), and up it goes into the election. On election day the S&P and Dow are at new all-time highs (or shooting for them), and O'Bummer gets his next four years to finish destroying us. That's what I see. But, look how wrong my 99% was last night...

I'll be shocked if they take out that 1399 low. And if they do, I'd expect the mother of all snap backs. Let's see.

That 99.50 should be it. I'm hoping not, I'm hoping they take 99 out and it isn't a snap back explosion, but I just can't see the manipulators not coming in here with nothing but air below. If they don't, a huge change of character has taken place, in my opinion.

"As it is written, so shall it be."

Originally posted by jimkane

That 99.50 should be it. I'm hoping not, I'm hoping they take 99 out and it isn't a snap back explosion, but I just can't see the manipulators not coming in here with nothing but air below. If they don't, a huge change of character has taken place, in my opinion.

This 6.25 here is a key decision point to see if this is just a bounce.

If it overcomes that level (I'm not sure it will), 10.00 area is my next spot to watch.

Nice. Right at the key lines and .300/.447 overlap, and the programs hit it hard.

Note that the big .382 is here at 6.47, and the .447 at 7.66. So, be watchful in here.

Please, everyone, read this post I did:

http://www.mypivots.com/board/topic/4050/-1/jims-economic-links#99179