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.

Originally posted by jimkane

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.

They are taking a shot at it... Last pullback was an .886 ABCD at a .447 and key line. Now 'stretched', so will they come in a bit, or will they just explode it up relentlessly? If the latter, it should be + in short order. If so, it will be about 35 points off the GLOBEX low!!! Anybody buy some short-term calls?

About 5 points to +. From 70-80 are various areas with key lines.

Bank index just turned +.

ES goes + on the day, as Jim suspected and mentioned hours ago...

I was it for the entire day...

ES @ 1084.50... :-)

That's a bit over 110 ES points in just over a day. Not too bad.

Interestingly HOD lies exactly on our downsloping warning line:





There is a potential bearish ABCD so the break above the high would be an important buying signal.

And now we have a potential ABCD 'W2' retest, with an ABCD in the BC leg of that. But, can anything stop this manipulation freight train? We shall see.

Choo-choo!

"And the train won't stop going, no way to slow down..."

From 'Locomotive Breath', by Jethro Tull.

Originally posted by jimkane

... But, can anything stop this manipulation freight train? ...

If not this 1.000 ABCD then nothing else today...

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.