I'll start the week with this:

symmetry and abcd right into the kz says exit short and go long

The really fascinating thing was (and my most advanced students reading this likely can see this in an instant) how it reacted right off the ABCD, reacted right off the posted level (albeit wide as described below), went right up to the TD ABCD spot, and down to my next level, and stopped dead (and is now starting to move up a bit). If you saw my line work I think you would be shaking your head in amazement, like I am. Not at how impressive Jim is, but at how incredible the rhythm of the market is, in my opinion and experience. Truly amazing.

Originally posted by jimkane

Yes, this bearish ABCD here is under my watchful eye, of course.

Originally posted by jimkane

I'm really tired, despite my 'I think I want to watch the European open tonight so I'd better take a long nap' approach. Regardless, look at that reaction right after the open, right off that ABCD. The power of those ABCD's at synergy never ceases to amaze me. Now let's see if this 46.50- 47.25 area reverses it, or if some real sellers are here.

Originally posted by jimkane

There is a thick layer down until say 43, and after that, it could flush.

Originally posted by jimkane

Okay, yeah, there is something 'big' around 40ish, too...

That's a nice ABCD, rat.

Originally posted by rat89

symmetry and abcd right into the kz says exit short and go long

Click image for original size

Here's TK's view, his WAG, on the NDX.

http://slopeofhope.com/2012/10/its-been-a-while-so-heres-a-wag.html

and

http://slopeofhope.com/2012/10/nasdaq-pattern-complete-and-on-its-way-down.html

Could this violate this super-key area here and dump? It sure looks possible. I'm on the alert, though, for them to make it look super-weak, suck some chumps in, and then up it goes. Is this also a big 4PT/flat hybrid? Oh, yeah. Look on say a 240-min chart.

Want to know just how well this insane market and government/country have trained me? I just heard that the U.S. has filed a civil mortgage fraud suit against WFC. My first reaction, which I said out loud was 'How much is the stock up on the news?' Under 'normal' circumstances the stock would be at least cut in half instantaneously. Shoot first, ask questions later.

I'm so used to a small initial reaction, and then the rampers come in and gun it up. So far the stock is down thirty cents or so. Woo-hoo. Big time crush. But, maybe it does sell a little bit. I don't see it, and if it does, I think it will be up tomorrow or the next day, but we'll see. If it doesn't do this, I'll take it as a potential sign of a radical shift in things.

Down fifty cents now! Woo-hoo.

And it's taking the ES with it. WOO-HOO!

About sixty cents now. ES back at 'support'. Is that it? That's the big sell-off?

See, here's how I see it. The U.S. sues WFC. One of two things will happen. WFC 'loses', but the fine, as other fines have been, is token. A few million, or a few tens of millions. A paltry sum for them. The whole purpose was to show they are doing something, and to clear WFC from future liabilities.

Or, they get a huge 'fine', and the U.S. gov pays it via additional bailouts. The U.S. gets the money from... the U.S. How funny. The U.S. sues a totally insolvent bank, and if they 'win' and get these damages and such that they ask, they get to pay themselves the money, since the bank is totally insolvent. How funny. How tragic. How typical.

I have a lot to say about this thread but unfortunately no time... Awesome material here from roofer. It make sense that a traders style and psyche have to fit the trading approach since we all see things differently. That wouldn't negate the concept that there is in fact an absolute best use of the tools....but can we all see it in real time....that in itself is an art