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 monster snap up off that low is the least surprising thing I've maybe ever seen the market do. It may not last, but I saw no way they wouldn't gun it off that.

Originally posted by jarek

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

Common babe for a retest:

I think we're looking at the same thing....the first (blue) set got busted by the abcd at spy 13097.....so it was pegged for a failure....but notice the schiff set anchored back on 7march got hit at the median line at the turn and continues to be support. what i see is that the long setups are good to minimum targets, then get washed out....supporting the thesis of a lower low over the next couple of days...who knows

Originally posted by jarek

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:

re joed.... if you look to factor in his work be sure you use your tools.... the two times i have seen it fail badly in 9 years, the tools of this forum were in direct disagreement....

It seems to me they are setting this up so that they can gun it up on Sunday night GLOBEX/Monday. So, where would they want it for that? And, will they start the gunning late afternoon Friday??? Or is this a 'real' downmove with some legs? And if so, will they still bounce it Sunday night GLOBEX/Monday, but just some KZ bounce and roll? All things I will be looking at tonight in my workups.

For those that think speculation (and way overpaying for stocks with triple digit PE's) is done, look at GMCR today. Up a little bit on a 'partnership' with SBUX. Cool. Only up over 1,200% since the crisis, and what, about 50% today? That's about a $3 billion increase in market cap for today alone. Very well-deserved, I'd say.

most traders will be sitting on the obvious....look to kane for bigger

Boy, would I enjoy an even paltry 15-20 drop in the dog...

i can imagine a 70 point at this juncture.

in the end what we do every day is play a computer game....what if panic hit AAPL?would it look like fnsr, clf, ntap, amat?similar drop would be 60-70 points.

yes, thanks jim

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