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.

I would give today like a 9.9 out of 10 rating for trading potential and usefulness of the methodology. Just my opinion.

Hmmm, broke the congestion here down. Fake and snap up now, or is the real dumping about to begin? Very nice action.

Have you ever seen such a box right after an ABCD which finally didn't give way??

And there's the LOD again, within a tick. Sweet. If this big area goes, we could see some real selling begin. Got to say I'm liking this week's action :-)

And it then snaps right back up to the congestion. Very curious. Like I said, headfake and then snap up. That might be considered a 'failed' breakdown, or a 'successful' retest. Bottom line, still no decision. Postponing it as long as possible, as is usual in my experience.

I think this likely will begin to rise in GLOBEX. The big area should have some upward influence on this, I would expect, and it sure is 'oversold'.

Okay, see ya all tomorrow. What a day.

what a great day...Thanks for the play by play along with your thought process. It helps me adjust the odds in my thinking.

Futures open up and look strong, and break the congestion to the upside. The first move was the headfake, exactly as suspected and mentioned.

patience paid off...took half off

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