I'll start the topic for this week with this:

http://www.zerohedge.com/news/2013-04-12/eight-wtf-divergences

I'm expecting some great action, and always on the lookout for the 'top' to be in place. Here, early summer in the 1600's, year end at 2000, who knows. But I suspect it will be one of them. Maybe not. I'll just be reading the clues and finding the setups. That's what I do best, I think...

I also have levels around 1483-1503, and 1535-1550 or so. But, maybe this ABCD-like structure right here finishes it off. I'd still love to see sub-1000, but this is a powerful area, shown by chart in here way in advance, it went right to it, and is making huge swings off it like crazy. So, it surely is a key area. We'll see.

I AM OFF TRADING BONDS...ANYONE ELSE?

Next leg down for gold?

So, there's a bearish ABCD here right at key lines. A reaction happened, and now a lower high. Why wouldn't I necessarily be all over this? Two main reasons. First, if they planned to take this down, it should already be down. No more bounces are needed. And two, the big one, betting against Friday closes being bearish is a tough bet. Look, I hope they sell this into the close. I hope the mold is finally broken. But, I'm just not seeing it. ES up 16+ at the high, about two hours left, and a bearish pattern that if it gives way opens it right up to be a 'W3', it's tough for me to see the downside. Look at IBM. Look at how it (amongst a few others) is holding the Dow down, and the ES is up 16+? I'm betting on upside into the close...

I'll be keeping an eye on 53.25-.75 and 57.50-58.50. After that 60.50-.75.

Okay, so it didn't want the time factor I had (I've never found separate time factors that accurate or useful for my methodology, unlike multiple line and Fib time confluences). Anyway, there was another time factor, sooner, that I didn't even consider, and it hits in here. But, that's after-the-fact posting. Here's something from before-the-fact. CMG trades 365.93 today! That's about 40 over the low on the day I posted that, and about 30 from the close on that day.

What's really nuts is, two days after that post CMG blasted to my first line there, and then got crushed off it. It then bounced right back to that line, and got crushed off it again, closing on the low with a big down bar. That was yesterday. Today it gaps up huge and blasts off, up about 37 at the high (which is about 42 cents away right now by my data). Now, will it even stop here? I don't know, all I 'knew' was I thought it would get here, and soon. All this technical work was done based on a totally new technique.

Posted-04/08/2013 : 16:43:56

Originally posted by jimkane

I'm going to post this just for grins. I don't do any 'predicting', and it's a fine line between my posting areas and 'predicting'. When I post an area I'm saying 'If it gets here, and it may well not, then I may take some action.' Predicting says 'The market is going here.' This is a very important concept for this methodology, and it's not just semantics.

Now, with that being said, I am doing some new work, and it is quite fascinating. Like all my techniques, it is about probability. Each outcome has some probability of happening, and I search for perceived edges for trading purposes. So, I am looking at CMG. I have a price and time factor coming together for April 16th at the price level of 366-367. It may mean nothing. But it hit the last time factor using this technique right to the day and price essentially exactly.

That may have truly been a coincidence. Maybe not. Now, will it hit the next cycle of this same concept? Who knows. But I wanted to post it in case it did happen again nearly exactly because it would be cool to have it on record. And if I remember and it doesn't hit, I'll make a post saying it didn't happen, not even close, oh, well. We shall see.

As an aside, I have another, later, secondary time factor at the same price level that hits on May 10th, just in case the momentum slows a bit. I wanted to get that one on the record, too. Just playing around with some new stuff that has been very promising so far.

CMG trades 366.23!

The ES sure looks ready to roll.

CMG took a 4.23 dump off that high, with a 1-min plunge bar on volume, and looks ready to roll off the obligatory bounce off that. But, both this and the ES may just be setting it up for the rise. We'll see.

ES sure does look ready to collapse in here. It must be a trap.

Let's hope it is different this time!

Originally posted by roofer

OFF TOPIC-since 1988, in 22 of the 24 springs, i have had crippling back blowouts where i can not walk for a few weeks( in one of the two that it did not happen, i broke my back!)always in the first cold spell after the first warm up.... that is tomorrow...i shall see.....