Last week's decline looks like the first leg down of the move off the big bearish ABCD. And this first leg down isn't necessarily over yet...

Slightly different setup than before right at 3D mentioned by Jim and at a line from a natural set

We also need to be aware that the whole drop to LOD is a potential 3D. Although with no spike line, it hit, as Eric noted earlier, .382 retracement of the whole move March 2009 - April 2010 to the tick:





The last such 3D on June 8th was good for an up move of almost 90 ES points.
On the other hand a potential failure of today's 3D could be a really ominous sign for bulls.

Maybe the Symetry and Geometry in the Market will influence it.

It again looks in a perfect setup for late day W3 drop. But I wonder if this could happen 2 days in a row and if this is not a trap today. Also this bearish ABCD may look more like 5 and not 3 waves up:

The recent high is the last line of defence for bears. If taken out it should explode up:

This is rather strange that they were not able to take it out while having so many chances for it. But one has to admit that most moves up after the LOD look like done solely by MRRD ...

again the geometry worked and patience was rewarded...exited all but 10% of original position in case price spikes higher to last upper target....

Great work, everyone.

So, looking at roofer's TZA chart and all the selling day after day, what do you all think the odds are the jobs report tomorrow AM is another bogus, pumped up bloated fake and they explode this up? Just something I'm keeping an eye out for. The report could start a bigger 'W2' bounce before the real selling starts.

I do have to say, what has happened in the Euro (and gold and the other currencies to a lesser extent) is downright freaky. Something is up.

what is amazing to me,is that as completed at this moment in time, the TZA has two clear possibilities......... and one is actually very bullish.....in a time window that a bounce is expected....of course the other possibility remains pretty bearish....spx near target given by geometry.....

That's the one.