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:

Let's see if they check it back at all here, or just drive right to that 68.50. And since they are doing this so fast, will that even slow it down?

67.50, with nearer-term 1.272 hit...

68.50. Here's my surprised look. In case you can't see it, it looks identical to my normal expression.

This .382 bullish ABCD played out perfectly well:

Now, if this doesn't slow it down, the next area I'd think they'd want to stretch for would be 71.75-72. Keep in mind, this is just information I'm considering for management purposes, not to necessarily get short against.

Nice chart, jarek. So, you can see what my reasoning was, for a play and for management areas in general.

The upper ML was reached on our daily setup:

Be very careful in here, folks...

Pullback launchpoint for a move to the 72 area, or will they just be happy with what they did and chop until close?

And when have you ever seen them happy or satisfied... greedy SOB's...

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.