On Friday Pound stopped right on a monster level, so the move up might be done, at least for a while. However, it likes deep W4s testing W2 highs (in a downtrend), so one more impulse to 1.4260-70 won't be any surprise.

Another curious ZH headline:

Stocks Soar As Corporations Are Defaulting On Their Debts Like It's 2008 All Over Again

I think this pig has had it. He's not quite dead yet, though, as he looks a bit too happy, and his eyes don't have x's over them yet.





Source: http://www.drawinghowtodraw.com/stepbystepdrawinglessons/slir/w300/stepbystepdrawinglessons/wp-content/uploads/2010/12/pig-rolling-in-mud-finished.png

Time for those x's? Or just the 'retest'?

this is funny....is the whole market looking at this median line set?

KZ here. I think it may want the 92.25 area. Or, it may just 'make it all back', as they are wont to do.

That really was an amazing area at the low, there. The frequency convergence was just profound. Looking back, I should have really been more confident the bounce would start, instead of thinking it might push a little lower (maybe another point or two) because of some other factors. The final test move was the handwriting on the wall.

I consider this the normal behavior of a free market, right?

http://www.zerohedge.com/news/2016-04-19/did-xom-stock-algo-just-freeze

I don't think this area is going to be respected. I think this will be a make it all back and then some. I think this will most likely be a ride until close. We'll see soon, as it is 'up against' this super-key spot.

eye on .618 - .786 area

It's been a wonderful week for me. I want to thank everybody for their comments and charts and I'm really happy to be included here. This is a breath of fresh air to be with a group like this. Thanks to all for putting up with my "newbie" questions and learning process. Hopefully I can climb the learning curve and be up on the slope where you all are! Everybody have a great weekend and will see you on Monday!