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.

Also, by my style (everyone creates their own unique variation of the methodology, hence 'my style' is my unique use of the methodology) a partial scaling must have taken place upon the loss of momentum and rollover into the area. Any long still held must be a partial. Other styles may still have it all on, but not my style.

Crude is just nuts.

Okay, let's get deep into the area and see if it wants to blow this out or not.

Lots of clues. If it just gets over, like it has, and then gets real weak, that's a clue.

Great info in all these posts Jim! The light is getting brighter : )

See the action?

Originally posted by jimkane

Lots of clues. If it just gets over, like it has, and then gets real weak, that's a clue.

As long as that light isn't on the front of a train and you are standing on the tracks, that's a good thing.

Originally posted by JaLee

Great info in all these posts Jim! The light is getting brighter : )

Very true. Hopefully I'll jump in time if I'm looking at that light!

indexes are getting really close....iwm basically hit its area yesterday....

There is an old quote (from like the 20's or something) I once read that I've searched for years and years since then to find the source, and failed. I always think it was Baruch that said it. It went something like this:

'There is a difference between the professional speculator and the plain sucker. We are all on a train and that train is headed for a cliff. The speculator plans to jump off right before it goes over the cliff...'

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!