ES is shaping up nicely for my new scenario, especially with the smallest Schiff set respected very well so far:



However the W4 triangle on the main index could have already been completed on Friday and in such case the usual Sunday/Monday procedure should take place from the start of trading.

First target for the move off our bearish KZ ABCD quickly met at line:

... second and third targets were met even quicker:



I don't have longer term upsloping sets at this new series so I don't know if this could be it (at least short term)

1.27/ .886 on 5

On the continuous contract ES is getting close to the lower ML of that all important long term upsloping set:

center of gap = 131.50.....watch those fibs

spy 130.64 = .382 gap fib....turned down.....looking for .886, 1.18, 1.27 of low....

Originally posted by rat89

center of gap = 131.50.....watch those fibs

This lines confluence could be a good target for the potential D point of a big bullish standard ABCD:

cool.....bounce first though, no?

Originally posted by jarek

This lines confluence could be a good target for the potential D point of a big bullish standard ABCD:

Originally posted by jarek

Bulls finally didn't make it to the battle field this time. Will it end up with an disorganized retreated in which they may got slaughtered?

Looks like a good start to that exact scenario:

yes, thanks jim

Originally posted by jimkane
Hopefully at least this leaves you with some understanding of my reasons.