We have a nice potential double bottom that could play very well into the usual Sunday night - Monday strength. This 100% retracement of Wave 1 of the move off our bullish ABCD doesn't fit well to the scenario of a really strong trend up starting here, but the move to the usual area off this ABCD should be good enough to deny all the Wave 3 callers right away:

Here is Jim's bigger bearish DB ABCD:





So far the rise found resistance at a line from a major set anchored at April's high

Perfect. That's what I'm at least considering as one possible premise.

Possible W4 of some degree:

Yes, and what is interesting is how it has produced an initial reaction, and is starting to roll off that. If they come in here for this potential 'W2' or not tells me a lot. They have to come in very soon or that layout loses its potential for me. Or, as always, it could just chop all over until another bot guns it out of nowhere...

Bullish finish of the day hanging on the ropes here:

You know those bulls will do it...

Originally posted by jimkane

You know those bulls will do it...

Yep - we can now safely remove the question mark beside number 2 on the last chart:

Watch this 1.272 off the ABCD here at 80.75 like a hawk.

Now watch the AC TL breakout point here for the 'backtest'.

Great work, eric, right to your area.