No charts. Just opening a new topic.

Yeah, Eric, that last chart shows the key aspect. Nice work.

Thanks .......Just showing the " Kane Methodology" .

Lets not forget what is going on across the country ........news plays a key role. There is alot of real estate below . The cycle spans back for decades, so rule out nothing .

ES ready to take another leg down, I think.

Originally posted by jimkane

Bearish ABCD's across the board on the daily in gold stocks and GDX.

"JP MORGAN JUST PUT OUT A GOLD BUY REC"..........HMMMMMMMMM

Well, the big issue, to me, is that this truly is a house of cards. For example, this 'housing recovery' (which has done nothing more than make housing unaffordable for the regular guy) is based on 60% cash buyers (at the peak of the bubble it was about 20%). Hedge funds and other investors have been buying up houses and renting them out (or trying). But at the same time that rent prices have hit all-time highs, rental occupancy rates hit a new low (how can that even be, from a supply demand aspect???) Now they have been securitizing this rental property in the same old scam. Same thing that tipped this over with subprime. It just never changes.

Anyway, the bond bubble, the reignition of the housing bubble, the stock bubble, the derivatives bubble (people say the bond bubble dwarfs the stock bubble (that's simply not true, it's between 2-3 times the size), well, the derivatives bubble is about 20 times the size of the bond bubble) and on and on. If something happens to set it off, the ripple effect will take it all down. I see no possible way to stop it, just like 'portfolio insurance' in '87, except a zillion times bigger.

ES really should be done here.

Possible D right here on the SPY

So, Yellen is out and Summers is in. I guess Yellen's comment about being completely clueless during the crisis isn't helping her ( http://www.zerohedge.com/news/2013-08-14/janet-yellen-financial-crisis-i-didn%E2%80%99t-see-any-coming-until-it-happened ). Shows what a little honestly will get you. I have seen things put together showing Chainsaw Al Greenspan and Bern-Qwacke and what comments they made and what happened, and it seems they are/were both wrong pretty much 100% of the time. It's beyond comprehension how they are revered. They seem to me to be utterly clueless, and wrong pretty much all the time. Anyway, you think Bern-Qwacke is bad, wait until you get Summers. He'll make Bern-Qwacke seem like a piker in terms of money printing.

http://www.zerohedge.com/news/2013-08-16/larry-summers-fed-chair-odds-surge-again-cross-70-yellen-dust

Well, it seems like the ES is going to cooperate and actually hit the area? None of this stop too early and head up stuff? It seems like it has a chance at this point.

Thanks Jim and thank you for the offer. Please leave my latest posting in the main discussion threat, where it is. The chart seemed worthy of comment at the time I looked at it, but now, not so much. It probably points out that I need to follow price action on the 15 minute and higher timeframes more, in order to see more, as you have pointed out in your books. As usual, the Kane ABCD covered the price action beautifully.

Al Kamego