Looks like Friday's low was well justified geometrically:





Roofer's The Trade setup shown here on Friday hasn't play out yet. If it fails despite its 90% success rate, I would expect a strong move up, since when great setups fail they usually fail badly. The whole investment world is watching this developing wegde which is bears really last hope. It reminds me of a similar wedge in April 09 when the bearishness was at least as high as it is now. We all know what happened afterwards:

This is rather surprising that last week's high in ES was not taken out when it was so close... Either they plan to do it overnight or first they want to suck in some of the bears waiting for the start of big W3 down by forming for example the following bullish DT ABCD:

Sweet play between Kane ABCDs & MLs.

Good Trading,

Al Kamego

Hi guys,

Well, it's bearish so far.
At the end of last week I saw more bearish setups than the bullish ones.

I already have 2 open positions. I bought some PUTs in (BBY and MOS)
I hope they work well. Specially MOS.

Originally posted by jarek

... And Roofer's DBS setup suggests that with 90% chance price will hit the downsloping ML before taking out the recent high:

I'm not sure whether it still can be deemed as successfull DBS setup, but the fact is that it hit the downsloping ML before taking out the high:

Few posts above I presented a concept of a bullish DT ABCD as a trap for all those waiting for a start of big W3 down. After today's selloff we may assume that a lot of them is already on board. Even more will join during eventual bounce. Wouldn't that be a great fuel for the potential rise above the recent high?

I DO NOT KNOW if that was THE TURN.... but it matters little short term.... the computers had signaled their intent for today... .886 on gap on 5 to the penny.......

again, it matters little to the short term trader....if you have not figured out all the nuances of the .886 on gap.... keep it simple...you know the power of the x- marks the spot technique, you know the power of .886 on gap....trade their coming together.....in essence, the computers are openly chatting for all to see that they intend to honor the presence of the geometry....

Excellent!

Good Trading,

Al Kamego

what happened to just posting chart?