Interesting! Thanks Steve. Of course we all know that March 2000 was the high month before the bear which lead to the crash, but I didn't know it was also when the VIX was also up.

Anyone else see this quotes discrepancy?

CME Equotes is my quotes provider.  It looks like the last trade for ES was 2676.00 but the closing bid ask was 2668-2668.50. 

IB is using 2668.25 as the closing price, and so is the CMEgroup.comsite.  So I'll assume the 2668 number is the correct one.  But did the bid-ask really drop so much right at the close? Or is that last quoted trade 2676 simply wrong?

Market goes down, I think "FINALLY it's starting to make sense". Market goes up I think "Central banks and/or PPT are buying again." LOL

Yah! If anyone wants to send some risk capital my way, just let me know.

Happening right now! Didn't even hit close to the front page news. I found out about it via a science magazine and had to search. Here's the link

https://www.theguardian.com/global-development/2017/oct/02/plague-claims-20-lives-in-madagascar-amid-warnings-over-rapid-rise-in-cases

:-))

LOL You're probably right. For years I've been asking myself if I'm so smart why aren't I rich? Now I'm wondering maybe I'm not so smart.

Agree with you. Sidelines is good.
Nassim Taleb points out that it's misleading to say that one quality of successful traders is their ability to take risks. Because, he says, - there are also many more unsuccessful traders who took risks.

But it looks like every indicator on that chart has negative divergence. Can market continue up to that Elliott wave 3 target in spite of all those divergences?

I dunno ANYthing!

Go ahead and call me a conspiracy theorist. But doesn't anyone else think this market is manipulated to never go down? I'm trading the charts, not what I feel about them, so this isn't a sour grapes message, it's just a "mouth drops open in disbelief" sort of message.

Looks like we finally might get 3 months of downside. According to seasonal charts, filtered by post-election years. I'm having trouble cut-pasting the chart but here's the link to the chart.

http://seasonalcharts.com/zyklen_wahl_dowjones_postelection.html

ES volume chart. It's usually quite similar to the 5 minute. But the patterns always seem clearer to me.

I seee. Thanks Saturn6. So for symmetry, red (4) should ~ equal red (2) which was about 100 points. Then up in red (5) to complete blue ((3)). Lots of four-fives ahead. Lots of volatility.

Each bar is 10 thousand ES contracts. Note the beautiful 5-waves down from today's high. Also yesterday's 5-minute selloff is about 20 bars in this chart.

So you're looking at the entire upmove from mid April as an incompleted large red (C) wave? With possibly a final 5th wave down of a smaller degree b wave triangle, and then a final c-up. That would be black by your colouring, am I following? And that would also complete your large red (C)?

And then? Drop about 100 points to below mid-April levels??

Ohhh. Makes sense. Thanks Saturn6.

Doesn't anyone else think this was unusual? During about the last 5 minutes of trading there were over 200 thousand ES contracts traded which dropped the ES about 10 points in those 5 minutes.

Oh well - to answer my own question - maybe unusual but maybe not so relevant. maybe just some big money unloading for the long weekend. Anyhow, volume is supposed to be a very poor indicator of anything because there's so much hidden volume anyway. Matt and Steve's charts don't even have volume.

Hi Stevieb294,

Where was that first lowest trendline drawn from that all the other lines are parallel to?

LOL it's turning me into a conspiracy theorist!