None of the 2 recent big bearish ABCDs made it to 1.272 of it and now bears may have to pay for it. Any move above Friday's high should confirm this:
JI
jimkane
Rep: 3,058
Posts: 33,089
1.000 ABCD to the tick, .382, and a great TL right there. Big clue time.
JI
jimkane
Rep: 3,058
Posts: 33,089
Yes, that is what I am posting that for. My intraday view was short off that ABCD.
ER
EricD
Rep: 63
Posts: 692
so now it went to the most usual spot for the pattern...and a move back up to the next area contained in the parameters can send it down in w3 characteristics.
JI
jimkane
Rep: 3,058
Posts: 33,089
Got'cha, you oinker. Now watch this 3 area, which also lines up with the .786/.886 'game zone' they like to play with when they do their artificial support mumbo jumbo.
JI
jimkane
Rep: 3,058
Posts: 33,089
So, my '3' area is there, and the 'game zone' is .786 = 2.84, .886 = 1.86, the center of that is 2.35, and it hits 2.25 and jumps up again, and then rolls. It seems to 'see' the areas, but is stair-stepping down off them. I'd love to see it continue that process, but as it 'retests' the 'game zone' here it bounces a bit again, and that may mean they do indeed plan to game it up here. We'll see. When a 'game zone' isn't going to be gamed they usually drop it through pretty fast. So, let the games begin...
JI
jimkane
Rep: 3,058
Posts: 33,089
Very weak after cash finish, one point from the RTH LOD. This gives some promise for that potential bearish ABCD, especially coming into the usually weak triple witch June OpEx week after time period. I can't wait for next week and maybe some real action. Today was a real dud. Ho-hum, yawn, zzzzzzzzzzz, I need to go outside and do some work and wake up. See ya Sunday night.
