Gold made an ABCD against previously posted bearish area.

Up over 20 off the low, well corrected, and looking strong. What a monster. Watch the ABCD area (63.25-67.00), but then does it want 73-75? 84-85? Wow. There is a super-key line here at this spot right here, though, so watch that 'in case'.

66-67 looks like then heart of the area for ABCD.

Thanks for posting the areas, Jim.
Are you going to sleep tonight?

Originally posted by jimkane

Up over 20 off the low, well corrected, and looking strong. What a monster. Watch the ABCD area (63.25-67.00), but then does it want 73-75? 84-85? Wow. There is a super-key line here at this spot right here, though, so watch that 'in case'.

The bearish ABCD area is a bit overshot right now and according to CNN the sentiment is extremely bullish, but there is a nice area to get in if they want to drop ES a couple of points.

Pretty simple, pretty straightforward. See how many times I harped on this point? How often do I do that? Here's my posts in chronological order:

"The ES sure looks ready to continue this move up. Sure, it may come under pressure, especially because of how much they like better prices in the AM, but it may be making its move now, too. I'm just pointing out that it sure looks set up to move right from here."

"I might be on this long side for awhile."

"Yep, this one may be quite the long ride (pun intended?)."

"A long, long time. I can just feel it."

"I'm not sure how late I want to stay up watching this grind, but it does still look like an all night grinder coming..."

So, where is it now? 80. Pushing on the highest area. It did a token little pullback at the ABCD, a token pullback centering around the second level, and is now essentially at the last level. Up over 40 since yesterday. I just got that 'feel' off it that something was in the works...

Originally posted by jimkane

Up over 20 off the low, well corrected, and looking strong. What a monster. Watch the ABCD area (63.25-67.00), but then does it want 73-75? 84-85? Wow. There is a super-key line here at this spot right here, though, so watch that 'in case'.

Anyway, it's all here. But who is going to short something that is straight up 40 points in this manipulated market? Who indeed?

Even with all these amazing posts by all of us lately, today is another fairly low turnout day. It's pretty frustrating to be posting to a literal handful... Oh, well.

Anyway, the ES looks poised for another push up. Will it take out the range top after this sweep down?

So, let's see if 80.25 is good enough for this, or if they want to push it deeper in. I'm not saying in any way, shape, or form that this is going to stop here. It may not even check back single digit points like it did on the way up. It may smoke this area. We may see new all-time highs soon, especially if they resolve the political standoff. But, in the meantime, I'll give this area due respect, in case they do the impossible and show some respect for anything. Not that they have done that at all in the last five and a half years. I mean, have any respect for anything...

Interesting article, but I'm mostly posting it as a reference for this one quote.

"Iceland went through a similar deflationary event to that risked in the US today when its banking system collapsed and the currency halved overnight."

Now, wait, during a deflation their currency got cut in half? No, hold up, wait, all I've ever heard is that during a deflation cash is king, it's super rare, and its buying power increases. Yeah, uh-huh, that's what really happens in the real world. My money gets me more stuff. Uh-huh. Deflation and less buying power. Makes sense.

http://www.zerohedge.com/news/2013-10-12/gold-debt-ceiling-and-fed