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:

There is a TL from the recent low helping the 'Game Zone'

Originally posted by jimkane


...ES key line here at that 70.25 low...

I see you were first with this TL which just gave way

Be very cautious in that ES here, as this is where the insane-bots may hit.

We may say that our whole bullish .382 ABCD is just giving way without playing out...

If it survives this 2-tick new low, I'm watching 67.75-68 next. If that gives way, this might get interesting.

Okay, 68 hit by the time I got that posted. Let's see.

65.50-66.50 next, and it's a big one.

It would mean that our bearish EXP played out perfectly well:

This is the area. That's close enough. Get ready for a big pop up. Hopefully it drops more, but be ready, this is where the drones may get activated.

Yes, jarek, that EXP was it. Now you can see some of the basis for my area I mentioned.

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.