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.

This has a magnet area around 1303, which is a 1.272 off the last push down, a downsloping TL, and the breakdown line for the triangle. Although this is weakening a bit in here and may not have any more upside, I'd be surprised if they couldn't get it back there. That would make back the entire 'Saudi Arabia sell-off'. Just something I'm keeping an eye on. In the meantime, this 97 high at the KZ .447 and line area is something to watch.

Watch this little KZ area here with multiple lines, if they are bullish it should start back up in here. Big clue time. I'm not sure the bulls have anything left after this anemic bounce.

The next area I am watching above, before that 1303, is 99.00-99.50, at the TD ABCD. If this thing can get any further off the floor...

1-min TL creep, and then the answer...

Looks like they're willing to defend that Feb 24th bottom at the big B point:



Also note how it this copied Schiff set it's almost line to line recently

WATCHING THIS AREA VERY CLOSELY....

or it could accelerate here....every move up has been sold in a zone so far....

Originally posted by jarek

Looks like they're willing to defend that Feb 24th bottom at the big B point:

When I re-anchored that slightly upsloping set with multipivot ML to the new low - it looks even better. What's more its lower ML was just tested:

yes, thanks jim

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