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.

Originally posted by rat89

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

Without a meaningful bounce it would be even cooler, wouldn't it?

it would......iwm hasn't hit key area at 7972 - 7976.....so stay on your toes i guess

Without a meaningful bounce it would be even cooler, wouldn't it?

It just caught my eye that when we copy the small Schiff set, which is being greatly respected, it points to the same area. Very curious:

This is the picture that makes me nervous on the short side:

.886 right here with iwm 7972 hit

wow

Originally posted by jarek

This is the picture that makes me nervous on the short side:

fascinating spot here....blue box is area indicated by roofer....at the moment though it made an .886/ .127 at the bigger median line.....so is the question - where will it hit its head in a continuation setup?

This upsloping set with multipivot major ML also suggest that at least short term the drop could be behind us:

time to decide

Looks like ES found good support at this lower ML:



I'm switching to short term bullish

yes, thanks jim

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