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...

I have something at 20:

If they really got this going, after the above I'm looking at 32.75-34.00. But it's hitting into the start of the 20-21 area (19.75 is my first number for that area), so it will have to prove itself here.

Yes, jarek, that's my area, and it clearly 'sees' it in my view. But, I think they sense a chance here to 'take over', so hopefully they'll stay on it. If not, the bears may come back at them. I think this is going to act like a 'W3' here, so I'm looking at those areas if this one is taken out.

But, again, it's like MMA (mixed martial arts): you're gonna have to prove it to me...

Look at the battle at this area!

And there's the resolution exactly as I expected. But, it's still within this first area, so let's see what it does from here. Can it make it to the next area, or is it just stretching this first one out to the max? I think they want that 27-28 real, real bad, and if they had time, the area above that. But just because they want it...

I have a multiple line convergence here, so this should really put the pressure on them.

Note the 1.128 ABCD here...

Getting ready for the next leg.

And here it comes.

That's the one.