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.

Originally posted by jimkane

...They look like they want up real bad...

And that's why it looked like that... BAMM!!!!

thanks Jim you answered my question...when you say it needs a checkback I study the formation ...that is why I asked, I want to see how my eyes are reading it.

So, is this headed for 92-95 today???

And why is Jim asking that? And can it really happen?

Now at the key area I mentioned earlier. If this blows out, think about the above question. And how about a nice checkback, and then up? Or did it 'do its thing'?

Look at the dollar getting crushed.

It sure 'sees' my area.

'Sees' it, checks back, and now they rush it up, headed for 92-95, which would be 30 points off the low?

HOD is fib-related to almost every important high on the way down. It was also at 1.272 of the last leg down:

This is a super-critical area. Notice the DX has a potential bullish 'W2' ABCD here. It is the DX's last chance here or it could really get hammered, in my opinion. All the currencies are just exploding right now. Recall I said it is all about the currencies. Curious the DX has this potential pattern right here, just as the ES hits my area, as shown by jarek's chart. If all this gives way, it should produce a violent reaction, I would think. I wish I could have gotten an answer to my question on why I said 92-95 (not what's at that area, why I thought it might explode up...).

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