The best area I have now is from let's say 1370-80, coming together this week. For a pattern the size of this, that is as narrow as I can get it. It then becomes about triggers and price action. But, recall my quote about trading bearish 'W2's' unless the start of 'W1' is clearly a PTA or end of the bull market ([url="http://www.mypivots.com/board/topic/4568/5/cant-miss-quotes#96489"/]click here for quote[/url]).
Although I'd love that March high to have been the end of the bull market, or even the start of a bigger correction, that is not a given at this point, and pretty much consensus is new bull market highs are coming, and coming soon. Normally I'd say from a contrarian standpoint that implies it will be headed right down, but those bulls sure seem to have it nailed dead on right now, so probably they'll be right about new bull market highs. After all, they are spot on for this move, right?
JI
jimkane
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CL starting to move up nicely. Let's see if the ES follows. This 59.25 here is critical. Look at the overhead TL.
JI
jimkane
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59.75 is the TL level right here. Now we see. All I want is a burst up to that 70-80, to get it over and done with... It could fool everyone, though, and quite well, by having today be the top. That is my concern.
JI
jimkane
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TL cleared, by time and a little price, and 'now we see'. C'mon 70-80, C'mon 70-80.
JI
jimkane
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Sure looks like a fake over that TL. Now watch the bullish flat here and we'll see. It doesn't look that good for the upside. Here or possibly a DT ABCD, otherwise this may go to 'toast city'.
JI
jimkane
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Well, the flat has produced an initial reaction. But, is that just the obligatory reaction? As I say over and over 'we shall see'. It does what it does, my only options are in how I react.
AL
albert
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Originally posted by jimkane
Once it gets to 64 then it's clear sailing to 70-80, I think. Maybe in the overnight? Tomorrow is pre-holiday trading, too. ES closes at 1:15 PM Eastern.
Simply amazing!
Kane DT completing just outside Kane Zone with very nice followthru.
Happy July 4th!
Al Kamego
Click image for original size
RA
rat89
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hey albert....nice chart
Click image for original size
Click image for original size
JI
jimkane
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69.50 hit so far. It launched off of 55.25. It checked back off of 64.75 on the way up. Geez, I'm always off by a tick or two. I need to improve my skills...
Originally posted by jimkane
Watch around 54 (54-55) if this flat fails.
Originally posted by jimkane
Once it gets to 64 then it's clear sailing to 70-80, I think. Maybe in the overnight? Tomorrow is pre-holiday trading, too. ES closes at 1:15 PM Eastern.