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MarcinO
Rep: 67
Posts: 5,506
Starting it off.
JI
jimkane
Rep: 3,058
Posts: 33,089
Sweep up, sweep down. Same sh#%, different day. SSDD, as Marcin likes to call it.
MA
MarcinO
Rep: 67
Posts: 5,506
Yeah. And again 2 points above the area I was waiting for to be hit.
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jimkane
Rep: 3,058
Posts: 33,089
Okay, take a look at this action here.
JI
jimkane
Rep: 3,058
Posts: 33,089
Swooooooooooooooooooooooooooooooooooooooooooooosh.
JI
jimkane
Rep: 3,058
Posts: 33,089
Of course that's because the NY doctor was conformed with Ebola...
JI
jimkane
Rep: 3,058
Posts: 33,089
There's always a reason, an excuse, for something that is technically set up to happen. And, again, I found the reversal point in advance... This one is a monster backtest of weekly TL's.
JI
jimkane
Rep: 3,058
Posts: 33,089
Time to gun it back up?
JI
jimkane
Rep: 3,058
Posts: 33,089
Yep. And the ES just got the stops and popped hard. Yeah, I'll watch the bearish ABCD area here, as a matter of routine, but it isn't acting like it's going to care one bit.
JI
jimkane
Rep: 3,058
Posts: 33,089
Interesting. It totally 'saw' that ABCD and gave all that pop back off it. That look like it was not going to stop, it 'fooled' me. I totally thought it was legit. Sneaky suckers. I didn't do anything with it, I just believed they were coming in hard core.
MA
MarcinO
Rep: 67
Posts: 5,506
Backtest of long term TL gave a good opportunity to go long.
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.