Starting it off. Here's an observation that just boggles my mind. There wasn't even a day trading discussion thread in the main MyPivots area for the entire week. We are over five years into a rip-roaring bull market of historic proportions and one of the top forums on planet earth has no trading discussion in one of the best trading weeks I have seen. Public participation should be at historic highs. TV commercials like the last bubble bull showing teenagers who own their own helicopters, giant boats parked curbside, farmers who now own islands because of trading, etc should be endlessly playing. Look now, though. It's bizarre, and should be the topic of endless discussion and research, yet no one is saying a peep about it. Biz-frickin'-arre, huh?

Not trying to toot my own horn, but the two pushes so far which then produced reactions were at 78.75 and 83.50. Must be a coincidence, huh? Market is random, after all, that's what the teach in business school, still.

Originally posted by jimkane

I just realized, looking at my levels as I posted above (I was rushing to post that), that even though they are two very distinct levels (on the lower timeframe), posting them as 79-81 and 82-84, it's just one range there, really. So, more precisely, 79.00-80.75, and 82.75-84.25.

85 looks like a nice area to produce some correction.

I don't know if anyone noticed, but that beat down in the emerging markets ended awhile back, and money is moving into them hard (or they are being manipulated up without money, something that seems impossible, but isn't). Well, equities in general, as we just hit that new all-time high. Equities are still 'in'. This 'bull' isn't done yet, and possibly may never be. It may truly be a new paradigm. Endless prosperity, isn't that what was said in '29?

That March contract high is about to be hit, even though it's an apples to oranges comparison. Still, that number (87.50) is in the minds of people.

Is that it for this leg?

I'd think they'd want that March number.

83.25, plus or minus two ticks, is the ideal spot for a resumption and little leg into that March number, but it may be done here, so that has to be taken into account in a good management decision, in my opinion.

83.25 has been hit, right at cash close. How...familiar.

Back at price flow. Let's see what it does... Sure needs a bigger checkback, but I'm not sure it will do one right away.

At least it did what I expected, chopped around. Sunday may be interesting. But nothing beats a day like today for trend traders. Fan-frickin'-tastic.