Here is the $SPX equivalent of our longer term bearish setup in ES:





The importance of the current market position is even more visible here, because Friday's high was exactly at the upper ML of the downsloping set at what looks as a possible 3D at the spike line.
If this breaks to the upside than we should witness an acceleration of the upward move, since there is nothing but air above:

Play of the Day?

Absolutely!

Gold 1388.10...

The play above was stopped by .300 bullish flat ABCD:

Yes, and one very distinct possibility I am looking at is they explode this up on the opening bell, to new highs.

They're off!

Was this small bearish ABCD all the big bullish flat could produce?

If that was it, it turned out to be a DT ABCD, right down to the .382.

5 waves off that sweet bearish 'play o' da day' ABCD you showed...

And here is this .382 DT ABCD which produced an immediate 5 points bounce:





The chances for this setp to play out are more than 90% so it'll tell us a lot if it doesn't

And there's the close, 75.50 was the high. I'd still say that's close enough, it finished a lot closer to my area than any other place it could have finished. And followed the lines almost like a script. Oh, and BTW, that was a positive close for the ES.