Originally posted by jimkane

...the A point of that bigger bearish ABCD is a big, key area on the higher timeframes. So, it really comes down to if one thinks a bigger correction is at hand, or that was it and new highs are coming.

So we may expect stronger move either way in the coming week:

My point exactly. Nice chart.

i would welcome a push to new highs in snp accompanied by retrace kane abcd's in the hundreds of stocks that have fallen hard... that would be the ideal.

however, the bears do have some geometry to hang their hat on

and here is the bears case for the snp

Either way it should resolve with acceleration somewhere here:

First hint that the bullish scenario might be taking over:





Note that despite few small breaches the major .447 held, suggesting strength in the move off Thursday's low

bears last stand!

Almost there if it comes to Crude:





I wonder Geo if you've quantified the probability for reaching the lower ML after test/retest at upper ML ...

back in the day, at least 15 times when INTC was a stock to trade, they would tick it up like this and then collapse it

clf has long been one of my favorite traders that i have kept to myself..... here is a peak