Originally posted by jarek

Maybe in the current environment we needed not just 3 drives to the top but something like 3.5?

It is very interesting to note that the push to the last top in ES was equal to exactly 61% of the average length of the previous 3 drives:



Is somebody playing games or the manipulation adjustments should also be calculated using the Fibonacci sequence? :-)

Wow, just got that posted and it happened. Now we see.

This is how I see it:

That's the one. The critical aspect now is how it reacts to this first push up and little stall here. I would be surprised (pleasantly) if we saw a new LOD off this. I think the most likely scenario, since any move up is so labored, is that it chops sideways until close. The next most likely is it takes out the ABCD. Let's see...

Now we have this nice tiny W2 ABCD right into the line:



It doesn't look good for the bulls at the moment.

Well, watch here at the ABCD that formed with that little ABCD in the BC leg. It sure 'sees' it. But, I think it chops until close, and doesn't resolve either way. But, let's see.

It sure looks weak.

can someone step on the gas..flush it to 1088 or explode this puppy..

One does have to have patience with this low RTH volatility...

thanks JIm for reminding me..

For me it is ABCD after ABCD after ... :




IMO we should see acceleration to the downside into the close

in other words... it used to be that when a bear market was coming to and end, you would see relentless block accumulation. in late 81 and all during 82 there were block after block of million shares.on large upticks... then the stock would selloff so the specialist could cover his short position..it was pure manipulation.... in a market that did not trade over 30 million share a day....but with the advent of bearish etf's,the big traders can accumulate large blocks in small bits on downticks under the radar knowing they are going to take market higher eventually by being hedged with bearish etf's.