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:

Okay, 'W5' completes here. But best case is a bounce and roll for another leg to 71-73, or a swift plunge. Then we see what 71-73 does, if anything. If not, wow.

Regardless, they essentially gave back all the manipulation intervention ramp. Imagine what this market would do if left to itself...

71-73 now hit. Geez, Jim how do you do that?

So we had an acceleration through first ML and coil at second ML. It is a sheer coincidence that the lower \\ is at ... 71

If they don't bounce it here, this may be a real 'W3' of the bigger ABCD, and new lows could be here soon for the entire potential new bear. Grrrrrrrrrrrrrowwwwwlll.

Boy, if they can get that 69, the stops there, wow. But you'd think the PPT/MRRD's are waiting to defend that, just as they did last night.

68.50. Can't post fast enough. Now we see...

The second lower \\ was hit to the tick at new LOD:

Yep. Now we see if they plan to defend this after losing all they did. If they don't, this may move sharply lower. It's all about if they manipulate (they like to call it 'intervention'), then it goes up, if they let it be a free market, it goes down (way down, and fast, in my opinion). So, it seems they let it go down a bit, then manipulate, then it goes down some more, then they manipulate. At some point I feel they will lose control, and it will likely crash. They simply won't allow steady selling, but as the flash crash clearly showed, they can lose control in a blink. They can only do so many 'do overs' and trade reversals before it becomes obvious and ridiculous. It's going to be a fun time this summer. No dull summer coming in my opinion.

I agree that this is going to be an exciting market. Unfortunately I will be out for the rest of the week. Hopefully someone will take over from me here. Good trading!

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.