ES clearly likes to close at a key area as Jim pointed out many times recently:




Friday's breakout after a trendline creep was rather unconvincing and the green set could be still in force. However the journey to its downsloping ML would be rather uncommon taking into account the time of the year...

So, is that bearish ABCD in gold that just completed going to play out? Drive it down to the fuller bullish ABCD? Send it down further? Or, most likely (?), going to blow out to the upside as the bullish .786 ABCD sends it into the stratosphere? Very exciting stuff, if you ask me. What a play off that DB ABCD that sent it down to the bigger ABCD. Just such great action.

we will know in next few days.....

ES completed a nice bullish KZ EXP overnight but it played out just to 1.46 with no follow through:

In bonds Thursday's 3D turned out to be of some importance:

Gold still hasn't decided whether to move for real off the recent bearish ABCD:

Price action on the 55 & 34 tick charts: Three Kane TD ABCDs completing at 0.486, 0.382, & 0.382 fibos. A Trader's Dream-type structure completing at 0.685 & 0.382 fibo, & a "roofer's mod to Tim's 80% rule" at 0.382 fibo.

Al Kamego

...and the 34 tick chart, showing Point B of the Kane TD ABCD as a tweezers top near the 21 SMA.

Al Kamego

Just amazing. ES went up in the overnight right to my area (as shown by jarek, but I also had several additional lines there), setting another new 'bulls#%&' market high, pulled back down to my next line area (about six lines), doing the usual rocket move in the first 90 minutes and putting in the bear low for the day, then rocketing up, and now setting yet another new 'bulls#%&' market high. And crude, it has just exploded after a crazy selldown. This is just insane action. Nice for traders, though.

45.75 is back at my lines and the 1.128. Will this slow it down, or is it about to break out to the upside? Big area here. Nominal new high and down, or more up? This will be telling. I still think it wants 1330 by year end...

47-51 is a real draw for this in here...

Okay, another spot on read. Made it up to 53.25 so far, right back to the price flow. Not a claim, but an observation supported by posts in here: made the read going down, made the read for the terminus, made the read for the long side. Not bad, epsecially for a crap action day and the S&P at a 17-year narrow range.