Welcome back everybody! Good to see so much activity and some new faces here

There was also a lot of action in the market while I was away. The basic question is, as Jim pointed out already, whether Thursday's 3D ended in a meaningful PTA or not. The best lines I could find for this area are following:



They don't look very convincing and there is no pattern, so the reaction at the current area should be very important:

But, I am bullish intraday bias, likely until the close, so I'm looking at that .447 pattern in that 'context'.

And as soon as I posted that, 'Thar she blows!, as expected.

Little bullish ABCD and then a burst off that, this is a very dangerous area for this to end the upward push. Just a thought. When it grinds so slowly like it has been, I'm cautious when it acts like this. 25 is a very key line area, I thought it would at least get to there without any issues. I guess 24.25 is close enough, and it may be done. We'll see.

This still can be a DB ABCD, although not a KZ one anymore:

.886 followed by a .447 of the mini move up

Little tick ABCD, and up to another new high off the LOD, again. It's a grind, for sure, though.

Now, is this 1-min SL at my key downsloping line here around 25 going to have some influence, or will it burst over for the last 1/2 hour?

Originally posted by jimkane

... my key downsloping line here around 25 ...

Do your lines look like this?

Yes. For the SL you need to look at the 1-min. Then you can see the downsloping line and the upsloping SL hit together. But, as expected, it isn't being respected. The 'restest' of the highs (this should happen lower than the HOD, due to the line sloping down) and the 120-min set would then be next.

And no, I don't expect that to hold. I expect new 'bulls#%&' market highs ASAP.

iwm bounced at line, at .941/ .618......how far will the bounce get? interesting how the new schiff set sits right on top of the last one....