Here is this potential bearish ABCD looming over the market for some time already:





Unfortunately it can go much higher and still remain a Double Bottom ABCD, so the picture is rather unclear at the moment.

we are the monthly open and balance the last correction in similiar degree basis globex...thinking it would burst up and play some games in this 90-92 area..but ready to click out 2/3 postion very quickly.

Crude still on the move.

FED announcement shortly...

Time to get wild...

Originally posted by jimkane

My next area (jarek's chart above) extends a little bit higher that his, up to say 89.50. It's within the reasonable tolerance, but I wanted to point out it extends a bit higher.

89.75 the high before this drop here. I was looking at the 1.000 ABCD (among other things) in case it pushed just a bit above the main area jarek showed. Again, this is all splitting hairs as far as the reasonable tolerance level of a grouping/area. I just need to know about where to look. But so much for the 'W3', they couldn't do it. I still think the odds favor them running this up into the close.

So, it pulled back dead to my key area, and it is rocketing. This looks like the possible start of the big push up. I'd prefer they dump it, as that fits better with my longer-term bias, but a good bounce here and setting up the 'first move is almost always wrong' play would be the best thing overall, I think.

as the game still gets played.

Like I said...

That 95.75 is a big area for me. That may stop it dead, or pull it in and then the next leg. Keeping a close eye on it.

that was sick...

roofer, do you have a list of the stocks that you track?