Here is an interesting story. While writing the topic above I was thinking about what chart to show this weekend. Then I noticed that the second date is a palindrome or in some way it is 'symmetrical'. Then I recalled Jim saying that sometimes ABCDs like to be symmetrical around certain point. Then I started digging and ended up with the following chart:





We may see that the BC leg of our current bearish ABCD, which was an ABCD itself was perfectly centered both in price and in time around its 'hub of the wheel' point on August 17th at around 1082 level.
To share the same characteristic the big ABCD should end on September 29th at around 1162 level. What's more interesting - this point is pretty well justified geometrically. Very curious.

Maybe not 100% classic (long AB leg, double .685) but potential bearish 4PT has formed in the 'Kane Zone':

This is one of the last lines of defence for bears if the move up from LOD is supposed to be W2 of any kind:

After failure of a small bullish ABCD it should soon accelerate to the downside if this really is a move off the bearish ABCD above:

Originally posted by jarek

After failure of a small bullish ABCD it should soon accelerate to the downside if this really is a move off the bearish ABCD above...

... and it hasn't suggesting that something else is brewing here.
Maybe something like this?

...that could be the exact scenario currently in play, especially after the break of the rising TL:

Jarek! I just checked the forum. I figured with you gone, there might not even be any posts. And look at all that excellent work. Great scenario and premise assessments. The last chart really did it. Now it's just ticking below the key TL and area for this first push down. I suspect it is a little mini-trap, and they will start it back up. I'd prefer not, I'd prefer the continuous dump, but that's the way they've been gaming it lately. But up to a new HOD, or up for a 'W2' retest of your last chart area?

Darn, you beat me again as I typed that last post... So, 'last chart' now means second last chart.

But your last chart (unless you are sneaking another one in as I type...) shows the TL I mentioned, and the break slightly through it. Watch for the snap up.

Originally posted by jimkane

But your last chart (unless you are sneaking another one in as I type...)

Originally posted by jarek

Originally posted by jimkane

But your last chart (unless you are sneaking another one in as I type...)

Thanks Jim. Have a good weekend!