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:

And I'm now long side bias intraday.

Kane EXP ABCD SELL completing at 0.486 Fibo coinciding with Kane Fib-Pattern-Line SELL with 3 D at 0.618 Fibo. Price does not touch ML of upsloping blue set, and touches ML of upsloping green set. Nice confluence of factors.

Al Kamego

But very, very quick to lose that if I don't see an explosive ramp from here.

Originally posted by jimkane

And I'm now long side bias intraday.

Is it also because of this?

Yes, and throw in a spike line off the three lows best seen on a 3-min, and it all comes together there.

Watch this little ABCD here, as this should really be accelerating here soon, if the premise is correct. My levels to watch are:

71
72.50

So let's see how the green set will play out this time:

I have my spike line to your previous 'A' point (I know I said the last three lows, but I was mentally looking at those middle two as one), which will give us another, bigger green set to use. But unless this dip here is a little 'W2' and up it goes strong, this thing is toast. I suspect the latter, based on how poorly it is acting.

So all this produced to the upside was a small bearish .382 ABCD (which one today is this already?):







Approaching an important line here

Very clear and distinct 3D here, deep into the higher timeframe area. Now we'll get some possible intermediate timeframe information. This is it, folks. Time for the bulls to not only step up, but follow through.

I think we'll get our strong run from here. I'd prefer more down, but the market likes up, so what can one do. If this 3D into a key pattern and area doesn't send it up, that would say something.

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.