Starting it off.

Yep, literally exploding to new highs for the move. Sure, it could be that further push right into the heart of this area and then down, but I give that, at best, a 1% chance in my opinion.

Cable and Euro. Correction finished with SL sweep and (most probably) continuation to the areas posted yesterday.
Who was this guy saying 'same old, same old' ?

Wow, was that really a sweep up right to the dead center of the area, and now the dump I've been hoping for? Is the 1% case going to actually happen? I still can't see it, but maybe. I'm watching for a down sweep here, which is actually slightly done already, and then a blast up. You know, the old double stop sweep and then go. That would break my heart. I really want this to come in a bit. But, it does what it does.

Originally posted by jimkane

Yep, literally exploding to new highs for the move. Sure, it could be that further push right into the heart of this area and then down, but I give that, at best, a 1% chance in my opinion.

Yeah, I do recall some guy in here saying that...

Originally posted by MarcinO

Cable and Euro. Correction finished with SL sweep and (most probably) continuation to the areas posted yesterday.
Who was this guy saying 'same old, same old' ?

Area basically hit. Now we see.

Originally posted by MarcinO

Click image for original size

Can you post an update of the last chart, Marcin? Thanks.

Here you are.

Just about guaranteed to produce some reaction, I think.

And it does.

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.