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MarcinO
Rep: 67
Posts: 5,506
I'll start it off.
My opinion is that 31-35 level for thes ES, posted on the 1st Jan., is even more worth attention given the structure of the correction, especially potential 3Ds into this area.
JI
jimkane
Rep: 3,058
Posts: 33,089
This does look to be, for all practical purposes, set up for some serious, hardcore downside from here, either a big ABCD, or a 'W3'. Probably it just jumps up on Sunday night, like everyone expects, and resumes the uptrend to new all-time highs, also as everyone expects. But, I'm just sayin', it's set up perfectly for big downside. Maybe it's set up too perfectly, and that's why it won't do it...
JI
jimkane
Rep: 3,058
Posts: 33,089
I was just reading market assessments from a lot of the 'top' analysts, and mostly they all say the big phase of the 'bull' is coming. And Armstrong, the top guy, in a league of his own, says Dow 43,000 or so, and possibly by Sept of this year, as bonds collapse and money flows to stocks. Or, maybe they collapse starting in Sept of this year, and money flows into stocks over a year or two. Who knows. This all lines up with all the analysts. You know, the ones who are always right.

I've been doing a comparative evaluation of all the bulls and strong moves since the 70's, and the results are quite stunning to me, and the opposite of what all the analysts are saying. This is a purely technical assessment, just looking at the duration of the moves, and the sizes, in percentage terms (since point moves won't tell the story, if they start from much different levels, which they do). I will try to post a chart. I will try to also go back to '29 and get that data, which I do have on another comp, and add that in. Like I said, I have this mostly all done, just not in presentation form, and the results are quite surprising. Bottom line: I can't believe we are not done yet. And if it does what everyone says, it will be like a group of data points all say fitting on a table in a room, and then another data point, say sitting outside of Pluto somewhere...
JI
jimkane
Rep: 3,058
Posts: 33,089
Closed on the low tick for the move, a drop of 13.50 points. Not bad.