As posted last week, my next level for the Cable is around 1.4830. But a really strong level is about 200 pips lower, whcih can be hit in the first days of January.
BTW, thanks for a great commentary on Armstrongs approach to interest rates and stock market connection, Jim. Great post!
JI
jimkane
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It's hard for me to imagine the Euro ever going down, even a little bit, ever again. The support/buyers on that thing are just mind-boggling/mind-numbing.
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jimkane
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No posts? Ouch. What a day, though! Wow. It's like this thing just trades great all the time. Remember the summer doldrums? Slow holiday trading? The lull between the morning and afternoon (closing) sessions? All that is a thing of the past now with the machines. I love it.
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jimkane
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Okay, this area here at 34 and change is an area to watch for a possible little checkback. Might not happen, but it's an area to watch nonetheless.
RA
rat89
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too busy riding the long side from the low yesterday....out now as spx comes into the area where we find out if this is the start of something new a bubbly, or just another pre-holiday countertrend bounce to the .50 - .618
Click image for original size
Click image for original size
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jimkane
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See? Just like that.
Originally posted by jimkane
Okay, this area here at 34 and change is an area to watch for a possible little checkback. Might not happen, but it's an area to watch nonetheless.
JI
jimkane
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Look at the V in price action on the 1-min as the ES makes back that entire drop. How funny (funny as in asinine and stoooooo-pid). But, it was right to an area, was super-expected (read 'predictable' as in expected/obvious), and had great/easy price action for getting a trade off. Can't ask for more than that.
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jimkane
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Hey, I just thought of a paraphrase of that Dire Straights song:
Easy, easy money, easy, easy trades for free.
Easy, easy money, easy, easy trades for free.
JI
jimkane
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And there's the new high for the move. That is almost a 10-pointer off that pullback, just like that. Almost 10 in the pocket, just like that. How frickin' nuts is that? I can't get over this. Essentially zero heat at all at any time, either, just like this run up of almost 20 off the last pullback that set that up. (It was a higher degree move, so there were pullbacks on the way up, but they were almost invisible on the traded timeframe, just like here.)