So Friday's action didn't give us the answer to the question which of Kane ABCDs pointing in different directions will prevail and both are still in play. Here are the 2 sets I'm watching for earlier clues than taking out respective ABCD's highs:





Both were very well respected so far and should be watched carefully. The fact that the downsloping ML of the smaller set contained the bounce 3 times in the last 2 days might suggest that its lower ML could be the next target. At the same time the last action might be considered as coiling around the ML of the bigger set and once the drop starts it might not stop before reaching the downsloping ML of the bigger set around 1030.
On the opposite side if we get the usual Sunday night - Monday push to the upside, then upper ML should be the target and last high would be in danger.

Rolled to 92. Now we see.

90.25. Very cool.

Could this be twice in a row same 1.000 ABCD with a shallow BC leg?

jim.... are you calling me a nut and a sucker?....... hahaha!

Originally posted by roofer

jim.... are you calling me a nut and a sucker?....... hahaha!

Well, we're all a little nuts around here, but sucker, nah, I know better than that. I can't recall which famous old time guy said this, and I asked in here once if anyone knew and no one answered, but he said the difference between a trader and a sucker is that we are all on a train headed for a cliff. The trader knows this and the sucker doesn't, and the trader tries to jump off the train right before the it goes over the edge...

Sweet Kane ABCD / Trader's Dream in the preopen.

Good Trading,

Al Kamego

This nice bearish ABCD was good enough to stop dead on the bounce of the .382-.447 zone:

I'm leaving for another week of holiday. Good trading to all!

Jarek,

Have a good holiday. Thanks for the super charts.

Kane Pattern-Line-Fib.

Good Trading,

Al Kamego

I'm watching the 1102.50-1105 area next, but this may choose to 'rocketship' the rest of the day. We'll see. It needs to turn right here at this 97.75 area or it is setting up for a ride until close trend, based on my experience.

I'm watching the area of 1072.50-1074.50 next, if it gets there. This 71.50 here is a minor area, and may be close enough to the above to finish it. Let's see.