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.

Ah, 37.50 comes in on the slightly upsloping 'breakout' line from the 10th-13th. That makes sense, and may be it.

Yep, that lines up with my last few posts exactly. Could be just a little bounce and roll off that ES breakout line, in which case the big dog should puke his guts out.

Originally posted by roofer

will the big dog bark.... or puke on the rug?

Click image for original size

35.50-36.25 is my next level, if this was just a bounce and roll. I'm not sure if that is enough for the big dog to get to the next level down. Maybe, given the Naz is relatively weaker today and the big dog is like 99.998% of the Nas now.

grasping for straws?/ naw.... saw classic 1.27/1.27 3 pushes so i hit the button

My levels below, if this does flush out, are at 32.75-33.25, and around 30.75. This area here is big, so if that goes (gives way), I'd be looking for a climax flush.

and you know how i LOVE the restest to be a kane abcd...

35.50 hit, and reacting. Now we see.

Originally posted by jimkane

35.50-36.25 is my next level...

Big dog hits 321...

And yes, jarek, following that GC setup tick by tick...

Waiting on the potential further breakdown...

Probably just some OpEx thing.