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:

LAST CHANCE FOR BEARS IF 3 DRIVE SL INTO "KANE GAME ZONE" CAN'T CONTAIN THIS.

Our downsloping set is still showing some signs of life, but I'll be watching closely the following count:



Wouldn't it complement nicely yesterday's optimistic address?

A small .300 EXP ABCD was good enough to drive it through this downsloping parallel to new HOD:

If my count is right KZ should hold during corrections:

Originally posted by jarek

...If my count is right KZ should hold ...

It didn't, but there is a possibility that this drop was continuation of the previous correction:




If this was the case it should accelerate to the upside soon

I'm not an expert in double ABCDs, but looks like we had them right before the breakout to the new high for the bull market:

Why do they hesitate so long with decisive breakout of the previous high? Want to suck in even more bears betting for a double top?

... and maybe they simply prefer to do their job when there is quiet since everybody is asleep? ...

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