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...

Yes, it's a major battle going on here. Selling this off here, which looks more likely, could lead to a big down Friday close. I think 'they' are right under this in here, trying to prevent that.

Just waiting for the MRRD's to show up and snap this up hard...

Originally posted by jarek

The downsloping // has definitely gained in importance:

It holds like a concrete ceiling so far. Even the players in the 'Game Zone' had to accept its superiority:

Finally....

But, this thing may be done, or snap up hard, after this 3-4-5 move here. Maybe not, but keep an eye out for more downtrending grinding chop.

With this .382 bearish ABCD the chances for taking out low were pretty decent

Originally posted by jimkane

Just waiting for the MRRD's to show up and snap this up hard...

Are they here now?

Notice the SL to the tick, starting at that low right after 8:30 AM, and the 1.272 in the vicinity.

Well, I'll be watching this TD area in here, but I think they'll likely run it up now, perhaps even until close.

If they run it, I'm looking at 23-24 and 27-28 as areas.

Notice that .685 TD right in here... Key test for da bulls.

That's the one.