Here is the updated medium term chart in ES:




Lack of at least a bounce here following Friday's bullish 3D right into such an area would indicate that something more serious to the downside might be brewing here. Breaking the rising TL from August low (thick blue line) would only confirm this.

Originally posted by jarek

Will it be just to 1.272? And what about this line in GZ?

And yet it turned out into Kane classic and just reached the line:

The line came and is gone now... One just needs to control the Kane Zone in moves like this one:

What a difference a (trading) day can make! We are back at previous high:

Our channel drove it perfectly well to an upper ML of a Schiff set. If it doesn't correct here for at least a while then the new high should be for longer this time around:

jarek - I really appreciate your great charts & comments. You have an amazing grasp of the Kane methods!

Thanks & Good Trading,

Al Kamego

Thanks Al! I'm always trying to show my best in here. We're here to help each other, aren't we?

Originally posted by jarek

... the new high should be for longer this time around:

It behaves exactly as expected and the target area is well defined:

j - Yes, we are here to help one another. The Kane Forum is great.

Al Kamego

ES is not respecting any minor spots on its way up:




It will reverse when it will reverse

I though the upside breakout in Bonds was for good, but they returned exactly to the same line of support:

I can't refrain myself from quoting here a fragment of famous Polish poem for children - "The Locomotive" by Julian Tuwim:

"...

First a toot!
Then a hoot!
Steam is churning,
Wheels are turning!

More slowly - than turtles - with freight - on their - backs,
The drowsy - steam engine - sets off - down the tracks.
She chugs and she tugs at her wagons with strain,
As wheel after wheel slowly turns on the train.
She doubles her effort and quickens her pace,
And rambles and scrambles to keep up the race.

Oh whither, oh whither? go forward at will,
And chug along over the bridge, up the hill,
Through mountains and tunnels and meadows and woods,
Now hurry, now hurry, deliver your goods.

Keep up your tempo, now push along, push along,
Chug along, tug along, tug along, chug along
Lightly and sprightly she carries her freight
Like a ping-pong ball bouncing without any weight,
Not heavy equipment exhausted to death,
But a little tin toy, just a light puff of breath.

..."

Have a great weekend all!