I will start this discussion topic with EURUSD chart.
On Friday it reversed six pips below the zone. I assume it may hold for a while and give some reaction but then it will be crashed.
Just my opinion.

a note on the automatic earth link.... back in the 80's when you had a futures account you were allowed to purchase t bills earning 10%.. yep 10% and use that as collateral for your trading....in the early 80's merrll's early cma checking account paid you 14% ON YOUR BALANCE IN YOUR CHECKING...and so it goes

because it's there

Originally posted by jimkane

I don't know why I'm even bothering to post that there's the new all-time high, again. Yawn.

One more wave down?

And so 95.50 was it. I thought they'd push it a bit further, and given where it decided to give it up, I think the odds are good it will head up and probe around some more. Hopefully not, but I can't disregard that possibility. Anyway, I knew the area to watch...

Originally posted by jimkane

Somewhere around 95.50-98.00 is what it wants. But, as the magical 1700 draws near, you also have to know it wants to probe that. How all that will unfold I don't know. The low 1700's area has a lot, but to get there it really has to violate that wonderful weekly area I posted so many times. It has to fail somewhere in here for that to hold. I would be very pleased if the 'bulls#%&' market ended at like 1699.75...

Reminds me of the lines from the movie Deliverance:

What the hell you wanna go f#%& around in that river for?

Because it's there.

It's there all right.

You get in there and can't get out, you gonna wish it wasn't.

Originally posted by rat89

because it's there

Originally posted by jimkane

I don't know why I'm even bothering to post that there's the new all-time high, again. Yawn.

Originally posted by rat89

Click image for original size

SPY price is certainly seeing and reacting to the Upper ML // of the blue ML set rat drew the other day.

Al Kamego

Now, if this were truly bearish it would roll here at this ABCD at 90.25-91.50 area, with 90.25 the best spot. It won't. At best it will drop down right to the expected spot (you all should know where), and rocket up. Why? Because I want it to roll down more than I want air. My next levels to watch are 93.25-.50 and 95.25-96.75.

Wow, it can only pull back to almost the .382 of the last little push on the 1-min? Wow, now that is strong.

Let's see if this is just a final push (Odds? One in 42 billion against it), or any hope of further downside today is basically shot to heck.

I realized it now ..... Thanks Jim .