I continue to believe that the move down off our big bearish Kane ABCD isn't finished yet because it hasn't reached 1.272 external retracement of that ABCD. Therefore I still look for a potential W4 correction of that move in the form of a sharp zigzag. My downsloping warning line was breached on Friday but there is a downsloping set suggesting that Friday's high could have marked the end of such zigzag. There was a clear retest of the line before the end of the session so it looks quite interesting:

And just as it is ready to give way, in they come again. Your tax dollars at work.

And finally 'Thar she blows...' But, this could be a bigger ABCD with an ABCD in the BC leg, and this area here would be the completion point. So, let's see what it does here. Otherwise, staying short side bias.

They finally let it roll of this small TD ABCD:

Originally posted by jimkane

...But, this could be a bigger ABCD with an ABCD in the BC leg, and this area here would be the completion point...

Wouldn't it have a distinct 3 legs in the CD leg?

No, the CD leg would be that last corrective looking push up it rolled off of. But that's more likely a 'W2' off the bigger 'W2' ABCD you showed, as this rolls to 71-73 in a 'W3'. But I still suspect this is going to pop up here possibly hard, hence the looking for an ABCD in here.

Or do you mean three legs of which that TD you showed was leg 2? If so, yes, it should extend a bit lower (a 'W4' that doesn't manifest), or a bounce and roll (to give it a 'W4'), to give that a better form.

Originally posted by jimkane

Or do you mean three legs of which that TD you showed was leg 2? ...

Yes - this was the one I was referring to

Well, if it rolls here (I'd be surprised, pleasantly, if they could do it), that would be the 'W4', and that would put it right into the prime spot for the ABCD. But I'm 'hoping' this bump up is enough to plunge it down to 71-73 before the close. We'll see, though. It does what it does. I can pick my spots, take my shots, and react to what it does, and that's all I can do.

Looks like a good day for natural sets:

I'd like to say I'm feeling rather pleasant about this roll but the .786/.886 game zone here has me cautious. I don't trust those MRRD's at all.

Oops, couldn't even get this posted and they killed it. Now, watch and see if the typical 'W5' area is it, or if they shoot for 71-73.

P.S. I'm definitely feeling rather pleasant now :-)

traders here know i trade a stack of charts in groups of ten to look beyond the indexes to see if the parts support a bias in the market.. especially before a big report i ask the cold hard question strictly based on the geometry...'' is the geometry of sell or buy in place on the previous days close.. so that no matter how ''good or bad'' the news, the computers already know how they will react?''then i ask after the initial reaction on the open'' does any additional geometry, usually an 886 on gap at line, support a continued push all day in one direction...?''here is a glimpse of my charts... note KLAC is an old favorite of jim's... the dbs was just waiting to blast.