It would be quite a surprise for all the Wave 3 callers if this potential bullish ABCD would play out to the upside...

Originally posted by EricD

...I am wondering if a larger turn is coming?

Good question. But if a really strong trend up had started off this bullish ABCD than Wave 2 wouldn't have retraced close to 100% of Wave 1...

I'm very interested in the possible bearish ABCD structure in here, or possibly up higher at a DB ABCD, if this doesn't turn it down.

Originally posted by jimkane

If this 54 area doesn't hold, 51 is my next area of interest.

54 it was. Keep an eye on the 1.272 area next, to see if this is just a 3-4-5 move, or the start of another leg up.

Also watch the DT area, and the 'one-tick' spot, and the 1.128. In other words, keep an eye out for a 'failure' in here, in case this is just a shakeout.

So, they 1.128 it, snap it down, now right here they should decide if they are going to run it, or forsake it.

There was also a small 3D at recent top and Roofer's green set showed again its amazing power:

Originally posted by jimkane

So, they 1.128 it, snap it down, now right here they should decide if they are going to run it, or forsake it.

And right there they did indeed decide, and run it it is. jarek's chart shows one factor in the decision point being where I mentioned it.

Be aware, though, this is again at a 6 contact point SL now, and they still could crush this.

Crude is just going nuts.

Let's see if crude has finally run its course there, or if it can do some more. I suspect it is done for now.

Yep, crude only went three cents higher since that post, the pit session closed, and that was it for the run.

Keep an eye on the ES here. I doubt they can sell off this monster run up at all (I rarely bet against insane ramp days), up over 25 points off the low. But, if they did intend to 'take some profits', this is a spot I'd be cautious with.

i have enclosed the tza trade....it is remarkable that even on the one minute, the logic of our work was there.... even though the odds had dropped to 13%, i gave the trade a little more room until the test and retest setup.. at which point the logic of the geometry said to reverse...i was gone from the short side....