The geometry in ES is also there:




The question is: will it reverse right here to give the Wave 3 callers some more hope or will it accelerate to the upside to deprive them of it straight away?

Now I expect the obvious. An initial checkback here, right to the area where it should start up, and then it will start up...

Originally posted by jimkane

Beat me by 17 seconds...

and with chart...

Yep, that's what it did. Now some chop, then... Line to line, area to area, game to game...

Originally posted by jarek

Originally posted by jimkane

Beat me by 17 seconds...

and with chart...

Yeah, I was going to say with chart, too, but I don't want your head to swell up too much. I think your future in fast reaction daytrading may be good, though...

Now how cool is that???

So my previous bullish 4PT is already gone. Another one is still possible but bears might come back with a vengeance after hanging on the ropes not so long ago:

And up like a rocket off that one. I'm seasick. Market up 5 of the last 6 sessions. I suspect a big up tomorrow. It's acting like it wants big up until the next shock event. But who knows, that ABCD still could be in play.

I noticed on a longer term SPX chart that the market is clearly coiling around the ML of an important Schiff set:





I wonder which direction is more probable in this situation: the upper ML or the lower ML...

Great chart, I've been watching that one for some time now. All common sense says down, with 99.99% probability. Hence, I conclude the most likely scenario in this broken, completely manipulated market driven by a soon to be additional gazillion dollars in quantitative easing, with phony regulations that are designed by the banks to support it, is up, with 99.999999999999% certainty. Just my take. Score: manipulators 100, common sense 0. Oh, well.

Anyone notice the low this AM before the cash open was a .300 to the tick off the low for the entire move down from the April top (1037) to the recent high? The strong move off that is very telling, in my opinion.

Plus 9.50 now. Not too bad.