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 ...
JI
jimkane
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This checked back right off the most obvious set line I put on yesterday. If it can't bounce up and through from this spot here, that's trouble.
JI
jimkane
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That's the 'W4' spot that should send this up, and why I said there would be trouble if it didn't. The reason I am not expecting this to roll down off the HOD key line area is that I still think the odds favor the move up for awhile off the area from the LOD yesterday. It is in this W2 chop zone now before it takes off, if that is what it intends. Hope this makes some sense.
JI
jimkane
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They are just crushing the dollar here. Look at crude go, and the ES.



