Looks like we may now safely concentrate on the upsloping sets instead of the downsloping ones:




The history likes to repeat itself and similarly to last year the July low at 38.2% was likely it. We still can't exclude a possible big flat that would retest that low, but Jim's scenario of "up, up, up and away" is in my opinion much more likely. In such case after a clear acceleration through the rising ML, the upper ML at 1340 should be the next target.

Still almost an hour left to reach the line confluence from my morning chart right at the expected timeframe:

This is how the 'Kane Zone' telegraphed all day long that this downtrend may have some legs:

Suh-weeeeeeet. Both what it is doing now, and your charts showing it, jarek. Now it's into your area, let's see what it does.

As an aside, I would sure love a rush into the dollar and a crush of gold, silver, comms, and the ES. I especially would like this to get gold way down to a much better price for purchases. But, we don't always get what we want...

Notice crude just getting crushed in here.

Yep - my area proved to be quite of a magnet:





And since this is also a possible bulish DT ABCD we should get a lot of clues here.

Originally posted by jimkane

Notice crude just getting crushed in here.

Gold also dropped 3% in 2 hours

jarek is just all over this stuff. I have to admit, I'm a bit 'proud' that through my work I may have contributed some to the development of such skills as he has demonstrated in here.

One look at a DX 15-min chart and it will be clear...

Originally posted by jarek

Originally posted by jimkane

Notice crude just getting crushed in here.

Gold also dropped 3% in 2 hours

Look at silver - almost 10% down in 3 hours!!!

Originally posted by jimkane

jarek is just all over this stuff. I have to admit, I'm a bit 'proud' that through my work I may have contributed some to the development of such skills as he has demonstrated in here.

Thanks - it seemed to me, that they were somewhat closer. Must have been too tired yesterday...