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Surged 35% by early afternoon. What's up?

Just my own thoughts: If your timing is very precise and lucky, 'buy and hold' a futures contract may be ok; If not, you can easily lose a lot more than your 'betting' money. I would buy a SPY call options or SSO with limited risks in that case.

I guess every chart/software has its strong points and weaknesses. I like your chart because it has several months history for intraday data and the ‘equal distance channel’ also looks practical. I used to have Metastock and TC2000 when I traded many individual stocks. Currently I mainly...

Hi Inks, your equal distance channel chart looks pretty good. Do you need to be a member of stockcharts.com to get that chart? Thanks.

It seems to be approaching the short area.

To know something about Paul Tudor Jones, Bruce Kovner and other big technical traders and their methods, you may read Market Wizards by Jack Schwager. Just go to Amazon.com and check it out. It's a very good book.

BAC may be in abcxabc mode, after 5-wave down.

USDCAD might target 0.618 at 1.3400~1.3450 in the next few weeks . The time switches every half year seem to only create trouble and confusions. I doubt there's a real economic value there, just something silly to do for all of us... :(

4th attempt to break the resistance

Thanks for the chart Mup. Seeing the price up and down fluctuation, I took profit on my small trade at the open and look for another opportunity for reentry.

SPX daily chart doesn't look so good to me. It could still be a down day today. But let's see what the market says.

Let's see how the wave count ends up to be. If that's a wave-2, it would be even better for the bulls. Bot a small amount yesterday when I saw some kind of breakout on the chart, just to try it out.

Gold ETF. Is this a good count so far?

The intra-day channel

Yep, where to start point 'a' for the wave count seems to be a problem. Just wait and see.

Mup, How do you label this EURUSD chart? Do you label abc-x-abc this way?

It depends on how bad the market is going to get this time. If the market is going to be as bad as 1929~1933 depression period. You would need to wait a lot longer than 2011. It took about 25 years from 1933 stock market low to get back to 1928 high by dollar term without considering...

The congestion area around 680 may offer some support (if SPX does get there), but I doubt it's a strong one.

Bank of Canada is expected to cut Overnight Rate by 0.5 percent point at 9:00am tomorrow. Which seems to be the main reason that pushed USDCAD higher in the last two days.

Log scale SPX