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.

This area is just a monster here. But the buying pressure is relentless. I've been long side bias since that turn showed itself. This one is a tough read, from a management standpoint. Surely some scaling is reasonable in here. But, in nursing a long, waiting on the the upper end of the area (2100), or more, if this does roll over, it could be tough to get on that side. Understand, not every move has to be (or is going to be) captured. I just try to look to make the best assessments I can. I think this is 55/45 odds in favor of breaking through this to the upside. So, I'd be looking to manage that way, then cry later if it rolls and there is no way in. It's an odds game.

Time for serious caution.

Okay, here they come on the dip at precisely the right spot. If it follows through it should be good for a bit more. Watch how it handles this.

How's that for handling it (not)? Now, see if they can snap it back, hence that was just a trap.

In my opinion, that XOM chart should lead to congressional investigations, prison sentences, major reforms, endless lawsuits, etc. You know what it will lead to? More of exactly the same.

let's see how they handle this:

if the members of congress can't understand the concept of climate change, they certainly aren't going to understand xom. Looks perfect to me

Originally posted by jimkane

In my opinion, that XOM chart should lead to congressional investigations, prison sentences, major reforms, endless lawsuits, etc. You know what it will lead to? More of exactly the same.

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz. 'Turn those machines back on!' -from 'Trading Places'

The ES looks like the best short of all time right here, right now. So, is that a trap?

It's so blatantly obvious it's just stoo-pid. Has to be a trap...

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!