Here is a new topic.


Al Kamego

So, junk action until close? Stops sweeps in both directions? Or will they run it? Or run it after some stop sweeps? Not sure I even care... Only posting this because it looks ready to pop.

Sure seems like they'd just have to sweep it down in a circumstance like this before they could goose it up. Maybe pop it up, get some longs in and shorts to cover, then sweep it down, take the longs out, get the shorts back in, then gun it up. The shorts get hammered, the longs are out, and it's free to run. Business as usual. We'll see. They are making it look like a big pop is imminent. I can't wait to see why they are doing that.

I barely got that posted and it takes the top of the little range out. Now we see which game. I mean, who really cares, but I'll stick around to the close regardless. Either one is in and just waiting to see how it plays out, or one is out and the only point is to see how it ends. It's just crap action (compared to yesterday, which went into my example book as one of the most harmonic day I've seen in as long as I can remember), but sometimes on a Friday afternoon crap action ends with a little run up. Maybe to 64 or 68. But maybe not. I think they now have the pop up in place, hence it's time for a sweep down. But will it then turn up? Or keep moving down?

Okay, back to TL/price flow, time for a stop sweep down... Any second...

TL broken. Now, is this all it needs? Games until the last hour or half-hour? A deep shakeout to 56.25 area? We shall see.

4 pnt pattern worked out well. Possible shorts next week.

Yeah, you are all over it, Duane.

Last hour. ES looks ready to go after the small double stop sweep.

While I'm bored to tears here let me discuss silver. Before I even start let me say I hate this. Normally I like bounces in the context of a downtrend. In this case I can't stomach how much silver has risen, and that it is likely going further. This is purely emotional, and mostly stems from the idea that I wanted one more push down into my best area from a long-term buy area perspective. Now perhaps that is ancient history never to be seen again. Kind of like the 666 S&P bottom, where I was sure it had one more little push down, and it didn't.

Anyway, I think silver is headed for 26.60-28.00 area. The main reason I think this is that the key downsloping line hits right in the area of the lateral breakdown area, and everyone on earth is watching that. There are non-contact indigenous people in a few remote jungles who now have the word and are watching it. So, I suspect they will want to break it up over that, to indicate 'the big breakout'. This will be followed with calls for new all-time highs soon.

Sitting right over this area that everyone sees is all the stuff I have coming together. That makes it a near perfect trap, in my opinion. Now, it depends on when it gets there to some extent. If it happens relatively fast it will start to hit my stuff after taking out the lateral area, but before it hits the obvious downsloping TL. If it takes a little more time then those two confluence, and it breaks them together, then hits my area.

They hit in the first part of Oct, but they are close enough that a mid-Sept break would still have some room before it hits my area, enough to really suck them in. But, if the lower parts of my area are not the key aspects, and it's more the upper area (which seems to be the case), then it could maybe do it a bit earlier. It just doesn't work as well if it happens fast. They have to game that downsloping line. But silver looks so strong it looks like it will be there by the first of Sept.

Anyway, I have to see how it develops, but that's what I'm thinking. A gosh darn 50% increase in silver off the low... Nuts. I also have an analogous area for gold, but I'm not going to post that right now.

ES 4 point range for well over four hours. Ugh.

Alright, I'll finish with a little visual. Make sure you look at all the posts and the timestamps. Look on a 1-min. This chart is just a guide for what I was saying. Look at it all. They do this all the time, but especially on a Friday when it sets up like this and is dead at the times of day this was.





Chart created on QCharts, courtesy eSignal