I just checked in and saw there was no topic for the week yet, so here it is.

I'm guessing this will just be a hold until new all-time highs...

I've just come back. Quick look at the Cable and I'm very happy to see that it followed my assumptions posted last week.
First, two days of overlapping swings and lalrger bullish correction starting on Friday. I still have to check whether 1.5150 was the most probable low for that correction or there are more important areas below it, and will come back with my view later in the evening.

eye on this .50 - .618 area for a potential rejection to send it back on its merry way down....

Not much to report today. ES still moving up, doing the things it has been doing in an uptrend. Taking out stops, getting better prices in the AM, and so on. I'm not as convinced as everyone else that new highs are guaranteed to be forthcoming, but I'm open to it. I am definitely still thinking if I smell any weakness (I may not, probably even I likely won't) the plan would be to lean on it hard.

Funny, rat, I was working on my post when you posted this. We are thinking similarly.

Originally posted by rat89

eye on this .50 - .618 area for a potential rejection to send it back on its merry way down....

Click image for original size

Anyway, that was a short trigger there, very short-term.

We'll see what it has to give. Trigger was at 56.50.

If it's not destined to be (a 'real' move) then this 53.50 is a place for it to start back up.

Okay, right now may face is cracking from the smile.

One thing I will say, if the 45.50 LOD level gives way more than a quicky stop run then I expect swooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooosh.

Well, it did hit 89.25, so that's okay. I got the read into the area, and pretty much for the move up. The morning made the move right to the posted area, the move down was in nice waves that followed the principles. All-in-all a pretty good day for trading, in my opinion.

Originally posted by jimkane

I'd like at least 90, preferably 92-93.