Here is an updated version of my longer term bearish TD ABCD in ES:
It has some drawbacks (especially the impulsive look of the potential BC leg) but the decisive break beneath the rising TL should confirm it.
Otherwise the rise from early July low might develop into a bigger ABCD itself:
JI
jimkane
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Tap, tap. Is my screen frozen? Did my computer lock up? Are my quotes frozen???
JI
jimkane
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And it does. Up, no less. Wow, I'm surprised. The only surprise is that they didn't sweep the down side stops first.
JI
jimkane
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I think it wants the 29 area, but so far there isn't much follow through, so that may be no more than a stop run. I'm watching the 25.50 area next if it keeps rising over this minor area right here.
JI
jimkane
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If the bears had any game at all they'd really have to take this ABCD and crush it here, I'd think.
JI
jimkane
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Not very strong or impulsive off that key ABCD, huh? Expect the bulls to gun it up any second now, and in to GLOBEX.


