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:

Did everyone see the nice little bearish 'W2' ABCD setup there for the short side? Now watch if this is a bigger bullish ABCD here, or a 'W3'.

Notice the SL at the .886 ABCD here...

Gold another new all-time high, 1263.70...

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.

Tap. Tap. Is my screen frozen? Are my quotes down? C'mon, break out to the upside already, will ya? Max pain on SPY is 112. Keep that in mind as we endure OpEx today.

And there was the 'upside breakout', which, not at all surprisingly, was a 'headfake' and then they snapped it down hard, trapping both sides. Now, what are the odds of downside follow through? With Max Pain above and game playing being all that is going on, I'd be shocked if it didn't snap back up now. I'd be very happy if it dumped hard, but very surprised...

And, as suspected, it didn't follow through to the downside, and snapped up. But will it follow through to the upside? I suspect it is more likely than not, but who knows, and at this point, who cares. I can't imagine this doesn't do another 'miracle ramp' to prep for the up Sunday night GLOBEX/Monday ramp.

One useful stat I just saw was that the week after June triple witch OpEx is decidely down, and has been for 10 of the last 10 years, and 17 of the last 19 years. This fits well with the idea that we are still forming a big bearish ABCD here.

Reacting to the bearish 1.000 ABCD and line area, to the tick. But will it actually go anywhere? I doubt it. Eventually it will make a move, and it may be a big move, but when it is so sideways beforehand, it is hard to know which way and to be on it when they hit the stops like a hundred times before they move it...

"I never try to guess my way out of a range."

I'm still watching to see how close they close it to Max Pain at 112 SPY.

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.