So the line from my Friday's chart finally gave way with the close below it. We may also treat the last bounce as a return move and KIG to the trendline connecting major bottoms:



Let's see if the dark forces Jim has mentioned here so many times will really be able to counter the mounting downside pressure ...

This is struggling with the .886 lower high 'retest' here more than I would expect.

Okay, that's better.

This is strange. Imagine having a position on in this... I know, you'd have to offset elsewhere.

http://www.zerohedge.com/article/uup-halted

ES new HOD. I'm being cautious for a stop run and drop here, if it doesn't just keep acting impulsively, heading for that 63-64 area.

The 1.0000 ABCD range is 71-73, but it could also do an alternate ABCD. Do the work and find the lines, and see where the synergy is.

Look at UUP on a 1-min upon reopening!

quote:

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Originally posted by jimkane

ES new HOD. I'm being cautious for a stop run and drop here, if it doesn't just keep acting impulsively, heading for that 63-64 area.

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They sure did stop run and drop this, as I see it. But the HOD was 63, so it did get to where I was watching. But the way it has stopped dead here on this area, it isn't acting like they want to drop it just yet. So, let's see if they keep heading for that higher 1.0000 ABCD area, or if this is it. Now I just see what it does and read the clues.

Look at UUP! It was doing between zero and 100 shares a minute commonly before the halt (but usually a few thousand), and it is doing 300K-400K per minute now!

They are acting like they want to run this right until the close, closing at a new HOD. Let's see. If so, it may get deep into that ABCD area, right before the big jobs report tomorrow. But, what if this is a 'W3' and they explode it up on the jobs report, maybe to a new high for the entire 'bull market'? Just a thought. Otherwise, though, what a setup if it closes up there.

Realy fun to follow this !





Mats

Okay, 67 was it. See ya all Monday. Great posts, everyone.