Not much to add to what was already told here about the importance of the current area. One more think I noticed is that the recent high in $SPX was exactly on the upper ML of an important Schiff set based on Feb-Apr and Apr-Jul swings:





Friday's morning high could have been just a test of this line.
From how it all sets up we may assume that coming move in either direction should be strong and sustainable.

No posts yet?

So, the ES goes right to 86.25 (go back to yesterday's posts and look at my key area), and drops 4.75 points right away. Is this the start of something bigger, or just a pullback to either push it up one more time to get deeper into the area, or simply just keep moving up, to eric's area, or my S&P 10,000 area. We'll see. All I knew was I thought the odds greatly favored this area, and it went right there, and that the area was likely significant.

Now 6.75 points straight down. What a coincidence.

Down 8.25 so far. Not bad. Pays to wait for the areas.

10 points, but it is hitting into areas (key TL, for example) where, in the past, they'd just gun it right back up to new highs. So, I'm being cautious in here.

In today's world, I'd say that 76 there was it. In a technical world, I'd love a bounce off that TL that everyone sees, and a roll down hard through it, and some nice panic selling. But, that isn't likely with $100 trillion sitting in a suitcase, waiting to buy every tiny dip. Welcome to S&P 10,000.

First clue is this little bearish ABCD here, which will likely get blown out to the upside befor I get this note posted.

Took it a little longer, but the little ABCD gives way. Now there is a bigger bearish ABCD here. I think it will also give was very quickly.

That was faster. Second bearish ABCD gives way. New highs coming, or a bigger bounce and roll? Are we in the 'new days', or the 'old days'? Odds change over time.

Nice price action. Kane Fib-Pattern-Line & Trader's Dream confluence.


Al Kamego

Still watching the Kane Zone very closely here.

Okay, what a place to close it, once again right on my area. How often do they do that? I still think the odds favor the bulls, but it sure would be nice for these technicals to play out and the big areas to send this way down. I can dream, can't I? I may take tommorrow off from the forum, I need a break, since as you can see, I tend to post a lot. If so, I'll be back as soon as I feel 'rested'. I may just watch you guys, but when I do one of two things usually happens: no one posts and there is nothing to watch, or, I just get sucked in and post anyway.

I may make a few comments today, for example, if/when this blows out my area to the upside in after-cash or in GLOBEX...