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:

Yes, Columbus day. Banks and Post Offices are closed. Bond market is closed. I think this may be the most pathetic trading day I've seen, or surely one of a tiny handful. I did 'quit' way back, but have hung around the computer 'in case', and I really wish I would have went outside and did something. Oh, well.

Two point range for almost four hours. 4.75 point range for the entire day. Just pathetic. Even the low volume rampers didn't take advantage and run it up 30 points. Must be a reason. I sure wish I knew the entirety of their machinations, so as to understand why they didn't just run this up, maybe even 50 points. You know there is a reason why that isn't to their advantage. Maybe not enough suckers? Why waste ammo when there aren't enough suckers???

And the second I post that they break the two point range...

Now, any other market than the market we have nowadays, and I'd say right here this is about to accelerate down hard. Today? Snap reversal and straight up. This really should get crushed here. But I doubt it.

It is interesting to note that even on a day like today our geometrical tools worked pretty well on smaller time frames:





In normal circumstances it would suggest the neighborhood of a major turn. Will it this time?

Fun while it lasted, but now the snap up reversal hard, right off jarek's lower line?

Like that was even a tiny, little surprise. Geez, you market manipulators, can't you even try to cover up your games a little? You couldn't be more obvious if you tried as hard as humanly possible. Duh.

Okay, right back to where it started from. Hmmm, I would have set the odds for that at 1,000,000,000,000,000,000 to 1 that it would do that. What a surprise it did, huh?

Oops, didn't realize, jarek's line wasn't the line area I was watching on my charts, so it actually was well below the line he showed when I posted that. If you look, though, the lines and .382 were quite clear at that low.

Originally posted by jimkane

Fun while it lasted, but now the snap up reversal hard, right off jarek's lower line?

Here is the missing set:





Jim - would you approve the labeling of this potential bullish ABCD despite the lack of the immediately preceding uptrend?

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.