guess I'll start ;)

there is a sea of fibs in the area we touched on thursday....will they snap it back up for the real hit or was that the trigger in disguise?




.768 / 1.128 right there at the high

Okay, see everyone Sunday when we have our big gap up and run for another 30+ points. Odds? In my opinion, 99.9999%. BTW, SPY is up since the ES close. Wow, that's a surprise.

blasted right up off the .886, the .447 and the .685 and went right through the area where it would have turned down if it was a retest and not looking for that higher high....awesome

Now the really cool part is upon us. It's a bit complex to explain via words in a forum, but I'll try to give the gist of it. Notice how we are now at the area where it has turned down in the past? Very clear upsloping price flow resistance level. Note that we had a clear, impulsive five waves down off the big 'top', and all this upward action has had heavily overlapping swings, in a very corrective fashion. This all clearly, unequivocally points towards this being a 'W2', and down into a monster 'W3' it goes. This should now move down, hard.

I believe, just as unequivocally, that it will break to the upside on this push. Hard, hard break to the upside, up and over the area shown on rat's chart. This will make me very angry, and will trap a lot of people. This will cause tremendous covering (how can there be anyone left to cover after what just happened???), and the acceleration will cause an almost immediate move to, up, and over the 'bull' market high.

I don't make predictions, I just look for setups. But in doing that, I also have to figure odds on various scenarios. 'Normally' I'd say this 'W2' is about over, and we will be seeing some serious, serious downside. The technical picture tells me this is far and away the most highest probability scenario. But my infamous 'gut' says the odds, no exaggeration, are 99.9999% the other scenario I painted will play out. This is about to 'break out' on the upside with strength that will shock us all.

We will be at new 'bull' market highs so soon it will seem impossible. Then this thing will make a fast attempt to take out the all-time highs. Just about right for the election. I think the move the last two days was insiders acting on knowledge that they had that the Europeans will announce something asinine and ridiculous this weekend (or that the ChairSatan will announce QE3 this week). Another empty promise. Who knows.

Maybe is was just a reaction dead off a key area to jerky there and his empty promises. But, maybe they are about to do another super-manipulation. I hope I eat these words and look like I'm losing it. I hope Sunday is a gap down, and down it goes. I hope 'W3' down is about to start. But, I truly see the odds of an amazing upside 'breakout' to be at least 99.9999%. That's what my gut tells me. Now we see.

Just my two cents, that's all.

It is very helpful to hear your read, thanks

Thanks, rat, I thought everyone just thought I was nuts.

nope

Originally posted by jimkane

Thanks, rat, I thought everyone just thought I was nuts.