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    JA
    jarek
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    Looks like Friday's low was well justified geometrically:


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    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:


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    JA
    jarek
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    (Edited )
    My bullish DT ABCD concept is gone, but I'm still looking for a scenario where the recent top will be taken out. What caught my eye today is the fact that LOD lies exactly at 1.272 of the last leg up, similarly to the recent top being exactly at 1.272 of the last correction on the way up. This could be a bullish EXP ABCD:


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    JA
    jarek
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    Originally posted by jarek

    ... This could be a bullish EXP ABCD:


    We'll learn if it really was by observing the reaction to bearish ABCDs on the way up. The first test is already underway with the folowing bearish TD ABCD:


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    JA
    jarek
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    (Edited )
    Classic 3D right into the game zone and a possible D point of a bearish TD. Taking out this top will be the first real test for bulls:


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    JA
    jarek
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    (Edited )
    The move of this potential D point above never really looked impulsive to the downside and now it was taken out after a possible bullish DT ABCD:


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    JA
    jarek
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    (Edited )
    It could have been another DT ABCD as W2 of the move off the bigger DT ABCD, but an immediate acceleration to the upside is needed to validate such scenario:


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    JA
    jarek
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    After taking out the bearish TD ABCD above, the next obvious target was bearish EXP ABCD and to no surprise the overnight rise reached exactly its potential D point:


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    JA
    jarek
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    The bigger bullish EXP ABCD is also still in play (supported by Roofer's .886 to the tick), so the one which prevails will show the short term direction:


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    RO
    roofer
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    we shall see....across internet land... i see forcaster after forcaster calling for one more new high around aug 23.....hmmm... the projected turn date i was working with has come and gone... aug 10....
    RO
    roofer
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    10 characters
    RO
    roofer
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    what happened to just posting chart?
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