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 right down to the 'price flow' area again. Bounce now, or some real trending finally?

And right up it goes. They are sooooooooooooo predictable.

Right back to the price flow, and down it goes. Amazing. It's hard for me to think they will sell this any more as we approach the close, but you never can tell. They are defending the break even point, and it's OpEx today, so who knows. I would love a last minute sell into the close. But, probably not.

They're trying to sell it...

C'mon, give it to me.

Here they come. My read was right, they are defending that area and won't let them sell it into the close.

nothing like layering areas and then look at P.A to access the odds ...

Another 10 points in the next 2-5 minutes? More? Up 20 off that low in minutes?

assess....typing and trading.

12.25 points in literally a blink of the market's eye.

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.