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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
This 'coil' is so ready to go.
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jimkane
Rep: 3,058
Posts: 33,089
It is well set up for a pop up and roll. But, that leaves out the double sweep...
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jimkane
Rep: 3,058
Posts: 33,089
It only has to pop to 56+ to sweep it and fake it enough.
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jimkane
Rep: 3,058
Posts: 33,089
Weak pop, and now downward pressure. I'm suspicious.
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MarcinO
Rep: 67
Posts: 5,506
Maybe they want to fake out upsloping TL before the pop up?
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rat89
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Posts: 7,015
notice how the early am weakness got bought right at the .382.....I wouldn't be surprised to see the .786 - .886 of the whole move down this week at some point
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jimkane
Rep: 3,058
Posts: 33,089
Okay, there's the pop up.
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jimkane
Rep: 3,058
Posts: 33,089
Everyone will be terrified to short this pop.
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rat89
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Posts: 7,015
that was beautiful
RA
rat89
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Posts: 7,015
they make the traders afraid to take any positions at either end of the range.....it's awesome
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jimkane
Rep: 3,058
Posts: 33,089