I'm starting a new weekly topic.

And once again: There it is! Risk is 'back on', exactly as suspected. Let's see how it handles the areas I mentioned in a previous post. All I 'knew' was that ABCD wouldn't hold.

Originally posted by jimkane

There it is!

Originally posted by jimkane

I see a 'There it is!' post coming soon...

I find the latter area, around 73.00-.25 a really key area. I'd think it would really want to 'test' that. If it can clear that, it can really get moving, I think. Hence, they would be highly inclined to see if the bears are around there, or not. Could be an exciting night ahead.

Reacting dead off the .382/.447 overlap, which is the very low boundary of the next area I posted earlier. Now we see if the bulls have any real juice. Watch in here on this dip, and how they handle it.

there was a lot happening in this area at the low yesterday....it will be interesting to see if that's the low it needs to retest the high

I am not trying to call any tops here, or say the bear market is upon us, but I want to point something out. Recall I said the Facebook IPO, give or take, would mark the end of the 'bull'? That date is set, supposedly, for 5/17/12 ( http://slopeofhope.com/2012/04/facebook-ipo-date-supposedly-set.html ). I think of this like the new, electronic-age world's tallest building (one source I read showed how all bull markets in modern times ended at or near the completion of a new world's tallest building).

I have also been watching the high-flyers, and when they roll over. NFLX, GMCR, et al, one by one they all give way. The three key players that are left, the triumvirate that I have been waiting on, are AAPL, PCLN, and CMG. All three are starting to really go off. Perhaps they will turn around any second now and be at new all-time highs shortly. We'll see.

But if not, that was a key sign I have been waiting on. Also look at AZO, which has held as the triumvirate has started to fall. But today, it stabbed to a new all-time high by twenty-five cents, and has been selling all day. Maybe nothing, maybe something. I'm just saying, there may be a change of character. Something I have been watching for clues is now doing the thing I have been watching for...

Keep an eye on 62.50-.75, if this gets there, for short-term clues.

First, though, it has to get through this 64.25 level right in here...

Keep in mind, too, that AAPL reports after the bell, and that should really get it, and the market, moving, I would think. In which direction, I can't say. All I can say is I would be very cautious with any open short-term positions when that news hits.

Okay, the ES hits the lower level. CL is exploding on the tick chart, exact inverse to the ES. It looks like something is up.

What a crazy finish. This market is just nuts. See everyone on Sunday.