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:

Originally posted by jimkane

... it may act like a flat, or an EXP that barely expands...

I understand that it would be this one:

It is really, really struggling with this key line here, at that slightly EXP ABCD. The bulls better wake their a#%es up here, or they may get pile-driven into the turf.

BTW, I hope everyone saw the awesome ABCD in crude and got a piece of that. It's doing quite well so far. Report out now, though, so be careful.

Didn't see your post when I did my last post there, jarek. Yes, that's the one.

I just don't see downside in this environment. Not any real downside.

Sure, there will be dips. But the reversal we all want off that key area? I just don't see it.

Watch this 70.75 low in the Game Zone here.

Notice the smaller ABCD in crude here.

But one would still have to be bullish in here for that one. And I'm thinking it's done for now.

And it sure was...

ES key line here at that 70.25 low. If that gives way, I'd normally say watch for a flush. Now I'll say watch for a DB or a 1, 2, or 3-tick move below the LOD, and then a huge snap reversal driven by bots.

Is that a 4PT in crude, though?

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.