The overnight drop could be seen as CD leg of a KZ ABCD right to the lower ML of our upsloping set:

Okay, after a tiny headfake to the low end of the 1 point range, here comes the upside breakout. This action is just too swift and exciting for me. Remember in the crash days when it moved 15 ES points in one minute, over and over? Now it takes hours to move 1 point...

Zzzzzzzzzzzzzzzzzzzzzzzzzz. Two hours, 1 point range. Now the breakout? It has to break into the close, that's a given...

That DB ABCD and lines setup just stopped this like it was a brick wall. But it sure didn't send it down.

S&P cash up 6 out of the last 7 sessions. Every analyst I saw on TV today (and understand I never, ever, ever watch the main propoganda station CNBC) was wildly bullish on 2011, explaining how corporate earnings are just skyrocketing, how everything is in place for higher stock prices, and things, basically, well, they just couldn't be better. Looking good.

Talk about closing at a critical area, again. I just didn't think it would go there and then sit, dead still, for almost three hours.

So, I would expect the break to the upside over the area, and the move to the new 'bulls#%&' market high in GLOBEX here.

Originally posted by jarek

What an exciting day again! Is this going to a complete halt one day?

I shouldn't have complained yesterday because there was some action then comparing to today ...

There are sometimes such long W2s, but it's difficult to bet against Gold bulls at the end of such a year:

Crude still can't reach its upper MLs. If the rising green ML won't provide the support for the next time, then 1.272 could have been it:

In Bonds we should witness a strong move soon - either W3 of the move off a bullish 3D or an acceleration to new lows in the move off this bearish 4PT:

Look at that ES finish!!! Drops like on rock on volume, they come right in for it, and they gun it up on massive volume to take out the key downtrendling TL, the HOD, the GLOBEX high, yesterday's high, and the previous GLOBEX session, all in one shot, to close it on the high tick! And they do all that with a total range for the day, including GLOBEX, of just 8.25 points!