This one-way market is already becoming boring. I'm more and more inclined to the following long term view:



The only question mark in such scenario would be whether it was already end of .382 W2 at July lows or if it still needs some more downside to conclude (and form a Flat or TD ABCD).
I agree with Jim that longer term all the permabears are going to be rather unpleasantly surprised.

Nice lines, jarek.

Al Kamego

Originally posted by roofer

... 90% of the time, the high of the day or the low of the day or BOTH are in place at 11;00..

Since its already after 11:00 this 3D at geometry and with divergence should not hold because it would mean a day high after 11:00. The 10:02 bottom should hold then:

Such behavior rather confirms the 90% rule above:

Looks like this bullish 1.000 KZ ABCD will be good enough for the downsloping upper MLs:

Recall I mentioned the critical lines it backed off from yesterday. You have two of the natural sets I mentioned, There is another one. Perhaps more I haven't even bothered to find, having had three already showing the same slope. Good work.

Originally posted by jarek

In ES there is also another line from much bigger set that may be the source of the current problems for the bulls:

Click image for original size

2.25 points to another new 'bulls#$&' market high...

1.25 points away...

Kane EXP ABCD completing at 0.382 Fibo. Subsequent Kane 4 PCP ABCD with a line passing thru it completing at 0.300 Fibo. Kane trading is cool.

Al Kamego

ZN on fire! Up almost 2 full points off that recent low! And with money flowing into treasuries, the market is still basically up. Hmmmm.

Yep - moving nicely off that yesterday's bullish 3D:

Probably just some OpEx thing.