Well, will it gap up and make me cry (actually p#%& me off to no extent*...)? Can it keep running after going essentially straight up over 63 points? Will it blow out my great areas, as seen in rat's charts? Are the odds really what I think them to be, 0.0001% that it could go down here? These, and many other interesting questions, are about to be answered...
*Understand that I would be p#%&ed off to no extent not because I don't think this upside has been tradeable (I think it was highly tradeable), but because I want the market to be allowed to 'do the right thing' and move to fair value. I'm just sick (sick) to my stomach over this endless manipulation. The worse the situation gets, the higher the market goes, and the more the 'bulls' talk about how fair value is much, much higher. Ugh.
JI
jimkane
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That area stopped it dead, like a brick wall. I will give it that. Amazing, huh? Of all the areas I could post, in advance, I happen to post the spot* it chose to stop (for now?) at...
*I'm not hedging or anything, but recall my areas are posted as 'center of area', and that if the post is very short term the areas are fairly close together, and the full width of the areas by nature has them not too far apart. I try to avoid the look that no matter where it hits it could be said it hit the area (as some blogs do regularly). By my IB data the high was 57.75, and my center of the area was 57.25-.50. Within a tick. I can't do better than that...
*I'm not hedging or anything, but recall my areas are posted as 'center of area', and that if the post is very short term the areas are fairly close together, and the full width of the areas by nature has them not too far apart. I try to avoid the look that no matter where it hits it could be said it hit the area (as some blogs do regularly). By my IB data the high was 57.75, and my center of the area was 57.25-.50. Within a tick. I can't do better than that...
JI
jimkane
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And as it turns out, this area did a lot more than stop it. It caused quite a reaction. This thing is weak. But, watch what it does right here at 54, as this is where they'd likely pick it up if they intend to gun it some more.
JI
jimkane
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Let's see how it handles 61.00-62.50 area. Assuming the minor area at 59 isn't an issue.
JI
jimkane
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I may be being presumptuous here, in that maybe that's just the 1-2-tick game, and this thing is toast.
JI
jimkane
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Notable reaction off the minor area, as this does the overlapping swings schtick. I expect a burst up soon. Watch the next level closely, it's the 'big' one. If it gives way, it tells me something.
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jimkane
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Due to the extended time here for this move, the best line has converged with the minor area, hence the second reaction now off that level. It's a serious battle, and it's not out of the question (but not highly likely, in my opinion) that it could end the up move.
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jimkane
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Understand, this is rising off a very key area, and it may be headed for new highs for the move, especially with a jobs report surprise tomorrow. The next two levels I posted (along with this minor area) are areas where today's action may push. Then we see their initial intents. This could roll it down if this key area is not to send this up.
Or it may bounce more, maybe around 70-75, and then dump off the jobs report. But recall my mention of the last two months being sells off the report, and now many see that 'pattern' and expect it to repeat. So, point is, this may roll over and keep dumping, but I am alert to this recent low perhaps having the potential of being a big bounce spot. You know, knuckleheads and their endless games...
Or it may bounce more, maybe around 70-75, and then dump off the jobs report. But recall my mention of the last two months being sells off the report, and now many see that 'pattern' and expect it to repeat. So, point is, this may roll over and keep dumping, but I am alert to this recent low perhaps having the potential of being a big bounce spot. You know, knuckleheads and their endless games...