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jimkane
Rep: 3,058
Posts: 33,089
Starting it off. I'll quote my last post from last week.

"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."
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jimkane
Rep: 3,058
Posts: 33,089
And yet another rate hike for QCharts/eSignal, and all the exchanges, too. This, with inflation at less than 1%, and the Fed saying 'We need a lot more inflation, we need prices to rise a lot more'. Bunch of nice people, that Fed. Looking out for the little guy. They have our back.
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jimkane
Rep: 3,058
Posts: 33,089
Yawn. Just hanging around, enjoying yet another grind up. No claims, but there is no challenge to this market. It's 'Too easy'.
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jimkane
Rep: 3,058
Posts: 33,089
Well, I didn't really expect the new all-time highs tonight (two points and change from it already)! Nor did I expect it to be up 30.75 off the last shallow pullback setup. Nor did I expect it to be up 52.50 off this morning's low. Holy-frickin'-cow is the understatement of the year. But, it was all there for the taking.
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jimkane
Rep: 3,058
Posts: 33,089
Relentless buying. The all-time highs should be going soon. With such a monster pop, can the highs have enough stops for another big pop? I can't see how, but who knows.
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jimkane
Rep: 3,058
Posts: 33,089
BTW, the pop used the excuse of the BOJ increasing its QE. Same as always, it was just looking for any reason to latch on to. It was going up regardless, in my opinion.
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jimkane
Rep: 3,058
Posts: 33,089
Nikkei up 1100+ points. Sounds about right. If they try really hard, they can maybe get it up 2000 on the day.
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jimkane
Rep: 3,058
Posts: 33,089
Yawn. Just waiting on the new all-time highs. Trying to decide if the first scale out would be called for on the pop recoil of those highs, or if it would be best to just sit with it all. Hmmm, such choices for the trader to make...
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jimkane
Rep: 3,058
Posts: 33,089
Silver looks like it may have a 15 handle soon. Wow.
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jimkane
Rep: 3,058
Posts: 33,089
Gold gave back essentially the entire rally.
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jimkane
Rep: 3,058
Posts: 33,089
More money printing, gold down more. Hmmm.
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jimkane
Rep: 3,058
Posts: 33,089