Major indexes hit last week 1.272 of the April - July decline. And they did it in a very interesting long term spot, as pointed already by Eric earlier in the week:





Lack of any reaction to the downside here would be quite surprising for me.

Possible checkback at x marks the spot for Bonds:

Kane 4PCP off GLOBEX hi completing at 0.236 fibo. Price rises & drops again. Confluence of Modified Schiff Upper ML //, red line, 21 SMA, & 0.382 fibo possible sell area per roofer's mod to Tim's 80% rule.

Al Kamego

What a perfect geometry at today's high in $SPX. Important turn nearby?

j-yes todays high was thing of beauty...in many ways....

fyi- i do not think this is a final high in any way.... but i do think the geometry is in place for a large kane abcd correction that with entrance on the .886 on gap at completion of kane abcd offered a very high reward risk .

if price opens or trades in real time at current pre market levels,it will force me to create a new category in my collecting..... failure of a checklist that had 100% of geometry in place...

That would be very interesting to see. There is still enough time though to let it play out as expected

On the other hand what is happening here is just the recent bullish ABCD playing out as expected, with a small climaxing move at the very finish...

Our local market is also at decision point now:




All we can say at this point is, that if all this bearish setups fail, they should fail really badly...

Bonds dipped below an important downsloping ML. Failure of this small bullish ABCD would only exacerbate bulls' problems:

And you, too.

Al Kamego