Here is a close up look at my longer term ES chart with a natural set added, showing one more time the importance of the Friday low:




Failure to keep it would most probably mean that a larger corrective move off that upper MLs has already started:

You read my mind on that one, jarek.

Originally posted by jimkane

So, I would expect crude will take out that high at 83.95 soon, probably today. That would be an 18-month high and significant breakout for what I expect is going to be another crushing crude manipulated run up.

And so it was... Big surprise.

82 today in ES? Or just go to sleep range trading until close? This wants/needs those areas in the 80's really bad. But maybe not in holiday trading. I'd think they'd use the thin trading to gun it, but I guess this is enough for one day already, perhaps, and it seems to just go up every day, day after day, so they need to save some for the 'up Monday'.

Here's another thought. They are really tracking that upcoming jobs report. I'm guessing huge, huge upside surprise (which is totally fake and manipulated, with snowstorm adjustments and census temp workers counted like they were real jobs, and so on), and the market will just explode. The talk about the recovery being completely confirmed will be incessant. Just a hunch.

Hmmm, rolled down into an ABCD here. Really respecting the area jarek pointed out. Now we see at this ABCD if the uptrend is still in play, or not.

Such a drop is rather surprising at this point. Jim - would you treat the recent correction as potential .685 4PT?

And here is the ABCD:

Originally posted by jimkane

...I'm guessing huge, huge upside surprise ... and the market will just explode...

And maybe there is a surprise for the bulls in the cards. They got too complacent recently...

I just love sellers, even if I want to get long. One can just ride the existing short, and enjoy the bulls getting bashed, even if just for a short while.

That could be some kind of a 4PT morph acting as a 'W2' or BC leg. The key is what it does here at this ABCD area. It looks like it wants to drop more, and become a 'W3'. But that is what has me ready for a burst up, too, it looks so doomed, and everyone sees that.

Okay, there's the trigger. Now we see. Bounce and roll, or ramp time. Two hours left before a holiday is not the 'safest' time to trade. I'd be surprised if this doesn't sell more.

Okay, a little cushion on this one. But watch those obvious .382/.447 areas at lines coming up.

Another potential ABCD:





... although with 3 legs in the CD leg