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.

Now, 'normally' I'd say notice how jarek's area lines up perfectly with the most important factor, I feel, the 'backtest' of the breakdown level. This is the expected area for this to rise to, and it would be technically very attractive for it to go to this level and roll down for the next big leg. But, 'nowadays', my gut says the low is in, we'll likely make all this up tomorrow, and be at new highs before the week is out (if not tomorrow). That key 'backtest' level will be totally ignored like it doesn't exist. Another 'one-day wonder'. We'll see, but I think the odds greatly favor what I'm laying out.

Nice move off our yesterday's 3D. And now this 1.000 ABCD right to the Kane Zone:

Easiest read I've ever done...

Originally posted by jimkane

Now, 'normally' I'd say notice how jarek's area lines up perfectly with the most important factor, I feel, the 'backtest' of the breakdown level. This is the expected area for this to rise to, and it would be technically very attractive for it to go to this level and roll down for the next big leg. But, 'nowadays', my gut says the low is in, we'll likely make all this up tomorrow, and be at new highs before the week is out (if not tomorrow). That key 'backtest' level will be totally ignored like it doesn't exist. Another 'one-day wonder'. We'll see, but I think the odds greatly favor what I'm laying out.

5 points from a new high for the entire move, and my read that it might even happen today. That's something, it would be up 27 off the low!

I'm thinking it wants 86-87. That would give it the new high by a solid margin, and would make it well over +30 since the low, a 'magic' number it likes when 'proving a point' and crushing bears to dust after sucking them in. Study the charts for crushing one-day-wonders, it loves +30's.

And is this 3D here one the 1-min, at a SL? Yes. It may check it back in. If it doesn't, that a big clue. But everyone knows this is the last W2(2) spot, Nic Lenoir even just posted that, and the manipulators will likely either just crush it, or try to suck even more chumps in and then crush them. (By crush them, I mean gun it up and crush the sucker bears playing for a W2(2).)

100% IB here at this 3D, so a checkback would be 'normal'. Not saying I think they'll do it, only that for me factoring that into a management plan would be reasonable.

it seems like it wants that area on the daily chart I posted. Yes Jim as every blogger is stating wave 2up 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...