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:

So far, this is totally not the Monday open I expected. Very odd action, in my opinion.

Those bulls have nothing near those highs. Is the area jarek posted for us going to hold after all??? Very interesting start to the week.

Okay, it took another 'retest' of the LOD, but my confidence is starting to soar that the bulls will take this up and over and really start running it very soon.

I know the chances for this to play out are fairly miserable, but an ABCD is an ABCD:

It clearly sees the area and doesn't know what to do with it:





It might be an interesting day and unfortunately I have to leave for a couple of hours. See you later

Just a roadmap and possible scenario if it plays out as there are clues that it wants that area.

Nice chart, eric.

It's getting ready to blow...

What a worthless day. I guess the pseudo-holiday is doing it in. 4.75 point range all day. Even crude is dead. I may just quit for the day...

What an exciting day! I was not aware about this pseudo-holiday...

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.