Here is the update of my chart from last Saturday:





Last week's drop confirmed the big bearish ABCD from May 6th to May 13th. The minimum objective for the move off it hasn't been reached yet, so we should expect more downside in the coming week.
I'm thinking about the scenario of another zigzag ABCD right to the same downsloping line. It would alternate nicely with EXP ABCD from the beginning of the week and help to drive prices to 1.272 off the big ABCD.

Ruh-roh, bulls. You missed your last chance. Ruh-roh...

P.S. Jim is smiling. This was a classic case of 'fade it', where the premise was the 'big' ABCD would fail, and it gave the bounce setup off it to fade it. I don't use this technique often, but this was a classic, prefect time for it, in my opinion.

Don't cry, bulls, it will all be over soon. This market can crash and set new lows faster than you can wipe those tears away. Don't cry...

Wow, only a few measly points from a new low for the new bear market (I'm pretending the 'cyclical bull' bear market bounce is over and the secular bear has returned). If they don't come in it should hit it shortly (notice it's in the .786/.886 game zone). ES -13.25 in here. If they can take out the low it should flush some stops, and we may see -25 to -30 tonight. Now, maybe they buy it up big-time in the overnight, and I'll wake up to a nice opening gap up tomorrow. Wouldn't surprise me. But if there wasn't so much manipulation and gov money I would suspect we might have a major sell-off/semi-crash tomorrow. But, the PPT/MRRD's are right there, right?

One point away...

Too funny. Epic times in the market, things 'seeing' the methodology like crazy, truly historic action, and not one single post...

Carl Futia says a long-lasting low will develop today or tomorrow and take the ES to '1300 and higher'.

I think this has a reasonable chance of finishing positive today. It just depends on if the game goes back to usual, with the MRRD's showing up. I suspect it is starting right now.

This area right here (around 58.75) is a key spot for this to overcome to have a shot at the 70's and + on the day. It can't roll over here, or it could get toasted. The move up so far is very corrective looking, not impulsive-looking to me at all.

Don't take this comment about + on the day as me 'rooting' for that, or my unwillingness to be on the intraday short side. I just suspect with all this damage the PPT/MRRD's want to gun it up, and the algos will jump all over that, and so on, and I'm expecting that is one possibility.

Right back to the most likely area here, at 52.50. Now I see if it goes up. Big clue time. If they were going to pick it up and they had any strength, this is where they'd do it, in my experience. If not, that's a big clue the MRRD are too scared right now to do anything of any significance.

Jim I wish I was here also ,but was working. Jim maybe getting a private room where you can see who is actually in the room on a daily basis maybe better suited. At least then you can see who commits on a daily basis and for the ones that can't be there live for personal reasons(day Job, different time zone) can post charts at their leisure or per your request. They have software that a click of the mouse takes a screenshot and sends it directly to your room. As you usually point out with uncanny ability area after area, is it better to take a screen shot and point out the time frame you may see this on then describe it and have no response and only to refresh the forum a couple of minutes later with no response. Their can be rules in the room as if you make a comment and someone has a question but you are preoccupied with your own trading ,you flash a signal or icon saying you will answer when available. If you start to see the interaction is better and more questions arrive you may charge a fee. Your time and energy is money. I guess it is all what you want out of the forum and your members and how you want it structured. This is just my opinion to try to remedy some of the frustrating issues.