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... and if we dial out even wider to the weekly chart view, a big projection there points to, you guessed it... the 1260 level of clustered magnetism Wonder where price action might be drawn to next when the current sideways range breaks?

Taking the most recent 1-2-3 swing projection, we see a collision of price magnets down near recent lows at the 1260 area. Overall big projection is still intact. Inside projection is of course intact. Prior magnetic zone from the past several years remains in force.

Next thing we see is how price action has magnetized to its 50% retracement level from recent swing low to high. Up & down, up & down going nowhere directionally... as of yet. That will resolve itself real soon.

Big picture (for us intraday traders) on the daily chart shows where measured price projections hit the usual targets crisply, or it's just coincidental TA rubbish. We'll leave that topic alone forever from this corner. Interesting fact that no one less than SAC himself employees Tom DeMark...

<i>"Most new/amateur traders prefer good accuracy and not so good risk vs reward because it is psychologically easy to execute. However, the outcome of the long term expectancy is nothing short of a disaster unless you were blessed by an early edge, usually not the case. On the other hand...

<i>"Bakery surplus has some bread bargains that would get Sam Zells attention. Finest of Whole wheat for less than $1.00/loaf Eggs $1.00 / dozen in country; less than that if your pets are hens. Home grown tomatoes are better/cheaper"</i> Bread deal sounds great... but what if we have...

<i>"Down $2,000 for Feb. From funding amoutn of $5K"</i> Consider that part of your overall educational cost to get from where you are now to where you need to be. There is no free education in this profession... everyone pays a price. The school of self-discovery, self-education and hard...

<i>"I could identify the trend in time based chart I know the reason behind the price action but how do you know the reason behind price action in tick charts?"</i> Tick charts / volume charts are almost identical in structure. One forms bars when x-number of price changes occur, the...

<i>"I don't really like the NQ, but to be fair I don't really like the ES anymore either, doesn't seem to fit my style. CL has been very profitable for me, 6E and 6B have been good also"</i> About anything other than eminis is trending intraday like a dream. ZC, ZS, ZB, ZN, currencies all...

<i>"While Washington debates, the impact of rising wheat prices is already being felt on many levels. Wegmans, a grocery chain based in Rochester, N.Y., says it has raised prices on packaged breads from 10 to 50 cents. Prices have also gone up on cakes mixes, crackers, cookies, and cereal. "We...

Maybe Zell does have his finger on the pulse of middle America. Perhaps he was behind me in line at the local feed store this weekend where I bought 100lbs of sweet feed for the critters here. Sam probably heard how some of the local farmers can only keep their operations going by selling ground...

<i>"If you're a farmer and you're getting $25 for your wheat, you're having a great time. If you're a CEO and you've got a balance sheet that's bullet-proof, you're in a great position. This whole thing is way out of control, way out of hand." Zell said that although he doesn't try to pick...

<i>"Once that pivot was blown based on AHG rules it's a 100% trend change, aka long."</i> Completely understood, <b>anek</b>. ES 1333.75 thru 1334.50 were no less than five tech-tool bullish breaks. That buy zone was a red-hot read... for those who wanted to swap directions of the six-hour...

<i>"Guys I have a dilemma. I just had a dinner with my brother and he asked me a question I was not prepared for. He wants me to be a partner in his franchise."</i> Sax, I just had dinner with my 24-yr old daughter at a place called "Moes"... mexican food served Subway style for those who may...

<i>"Not a pissing match though. I'm just saying, based on PA, guys were going long around here that I saw. I went long myself and got scared off cause it was past 3:30 and took my measly 2 points."</i> Sounds good, <b>kid</b>... I meant no disrespect at all. Just read your post, prompted...

<i>"Funny you mention the taking out of the pivot... the experienced guys in the channel today were yelling buy buy buy as soon as we took that out."</i> They were? It must have been verbal then, because text notes posted imply everyone with no exceptions was either short or confused from...

<i>"Regarding your last one, I don't think they simply changed their mind at news release, "they" tried to offload shorts on a quiet leading into news release (stock trading 101), actually I don't know when news has hit the wire, I assume it was at the time when I entered a long LOL. When news...

<i>"News normally follows accumulation or distribution, just because we don't know, doesn't mean that others don't. If there are definite signs of A or D present then you have to assume that there is a group of people that are looking for a directional move to start or continue, going against...

<i>"News, who needs news. Price!" * "yes, exactly. Those of you who think the main reason for this upturn where the news don't understand this market."</i> == Markets were at very key inflection points yesterday, which was obvious the way ES kept finding fierce defense at the 1330 -...

yesterday's emini tally: http://elitetrader.com/vb/showthread.php?s=&threadid=118533 Today I was up +14pts ES by noon. From noon until 3pm est the ES range was 1335 ~ 1329... 6pts up & down. We've had larger 1min candles alone than that, hundreds of times in the past six months. Kept...