The developments of the last 2 trading days make me consider the whole rise from the post crash bottom to the last week's high as a W2 Kane ABCD:





Timewise it doesn't look good because it rarely happens in a zigzag that CD leg lasts 80 times longer that AB leg. But if it comes to proportions - it's almost perfect: AB and CD legs are nearly equal and whole ABCD retraces between .685 and .786 of the preceding leg down from the top.

Initially I thought that whole zigzag should finish at May 11th high. Now I see that high as a C point of a W4 correction in the CD leg:





The behaviour of the market in the next couple of days should help us jugde whether this interpretation is correct. This is rather important because in such case we should expect a drop to at least 1020 (1.272 external retracement of the ABCD) and probably much lower if W3 down has just started.

And look where it implies the end of a 'W3' could be!

1106... !!!

I'm disappointed. No one posted about the beautiful TD ABCD at the HOD, in a .382/.447 area with several key lines. Look at a natural set on the ABCD. What a gift. And look at the reaction! That is about as good as it gets for me.

Watch the area right here for a bounce or termination.

Very nice. I believe you are talking about the nice Kane TD SELL on the 2 min RTH chart. I did not see that one. As usual, I was watching the tick charts & saw a BUY there, a Kane TD, lol.

Al Kamego

BTW, that was a sweet Kane TD ABCD sell you mentioned, Jim. Thank you.

Al Kamego

This is really acting like it will run up until the close. Let's see.

And yes, I have a level right here and at 9.50ish, and it will have to overcome those first or it's seller city, but it is acting like the 'MRRD follow the Euro manipulators up crew' might be here.

Originally posted by jimkane

This is really acting like it will run up until the close. Let's see.

Is one of the reasons this 3D to finish off an even bigger 3D?

Yesiree, jarek.

Did everyone see that nice little ABCD there to keep this moving to the upside? I'll use one of my expressions I haven't used for awhile (check the KT terms section if you forgot it): KIG.

Which line does this kiss relate to?

I suspect a big run up in GLOBEX and a huge gap up over that line. We'll see. The weekends are getting longer and longer as the inevitable blowup gets closer.