JI
jimkane
Rep: 3,058
Posts: 33,089
Now let's see if it accelerates, or if it pulls back in a little bigger, then goes. Or, and no one would believe it, it's done for now.
JI
jimkane
Rep: 3,058
Posts: 33,089
57.50-58.25, or pull back in here? Super-acceleration phase? This is going to be interesting.
MA
MarcinO
Rep: 67
Posts: 5,506
It's backtesting lines at 53 now. If this is enough to continue then we are in super-fenzy mode.
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jimkane
Rep: 3,058
Posts: 33,089
Yeah, this is the daily huge backtest, the kind of stuff Tim Knight drools over. This is the load the boat short like a madman spot. And just when my contrarian declared the 'bull' is back.
JI
jimkane
Rep: 3,058
Posts: 33,089
Anyway, the ES did something it usually doesn't do, and that's make any kind of move in the Friday after close mini session. This time it kept moving up, set a new high for the entire move, and closed almost at the high tick. It is now fully at the monster weekly backtest line. If this is a bear market, it should roll off this, and roll hard. There is a key area above, built from the immediate price action, and that comes in at 76-87, with a grouping of key Fibs at 94.00-95.50. I could see it hitting the lower end of the area, maybe a little above the lower end, and still be respecting the key TL backtest, but not much more.
Still, does it even seem remotely feasible that this is going to dump to significant new lows from here? The only hope I see at all is that not only do all pundits and analysts say no, it's completely and utterly an impossibility, most readers in here, I believe, are also saying no out loud right now. And that's not meant as a slight to the readers in here, who are among the most highly informed out there, I feel, it's more meant to imply just how good they are at sucking people in. We'll see. I don't really care, from a trading standpoint, what these maniacs do with it. So, that's what I'm working with as we reach arguably the most critical juncture perhaps in trading history.
Still, does it even seem remotely feasible that this is going to dump to significant new lows from here? The only hope I see at all is that not only do all pundits and analysts say no, it's completely and utterly an impossibility, most readers in here, I believe, are also saying no out loud right now. And that's not meant as a slight to the readers in here, who are among the most highly informed out there, I feel, it's more meant to imply just how good they are at sucking people in. We'll see. I don't really care, from a trading standpoint, what these maniacs do with it. So, that's what I'm working with as we reach arguably the most critical juncture perhaps in trading history.