Long term charts leave little doubt about the importance of the current levels:

So, they really, really, really want 1106-07, and they'd prefer it today. But do they have the steam? This will be a curious finish, especially as this potential W2 ABCD forms in here. If/when it is clear that that will blow out, then the power move up can get started. I'd love it if this ABCD could start another leg down, but I won't hold my breath for it. Picture a tiny little ant trying to hold like an army the size of China, the soldiers representing the Fed dollars steamrolling this.

The spoos are currently positive on the day. If they close positive, that will be eight days in a row. The spoos have never closed positive nine days in a row. Never. lets ee how it plays out.

And the ABCD completes and triggers big time. Now, here's where to watch for the key clue: follow through. See, if this is a true W2 ABCD here this should bleed like a stuck pig. Maybe a little W2 bounce here, as W3(3) starts, but otherwise straight down. But what seems most likely? Right back up, as the shorts are trapped now. Let's see. I'm not saying playing that ABCD trigger wasn't the thing to do, only that I'd be pleasantly surprised if it fully played out.

Watching Jim..i like the other play when you said the shorts are trapped..maybe up to the 1099 area..but triggered and waiting to see how it plays out.

Well, all I see is upside, so shorts are tough to bet on here, but if this morphed into a DB ABCD that would be interesting. But, given we set a new 'bull market' high today, why would I be short side except for the occasional mini trade that really gives me something?

Needs to bust this line area here to get moving up, and it seems to be struggling a little bit so far.

Just being cautious that that could be a final smaller leg into that flat ABCD. This needs to accelerate upward here very quickly or watch out.

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.

This could sell here, but mostly I suspect it will chop with small buy programs thrown in to push it up. But if it takes this line out here I would expect it to burst up. How's that for saying it could do anything?

Holiday..everyone is out the parade.

Yep, so it did exactly as I suspected, chop with some little buy programs. Watch that upper line, though, on the flat ABCD, for an after cash burst.

No matter how he tried he could not break free...

Pink Floyd

Sunday night should be very interesting, with this trapped rat coil right in this key area. I hope everyone is able to put the work together to see this. It's an insane X marks the spot ABCD.