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.

... while at the same time NDX is strugling off its bullish KZ ABCD:

fascinating spot here....

is big dog getting ready to roll over?

The consistence of .447 doesn't cease to amaze me:

Just great coverage, jarek. Thanks for all those posts. Everyone else, too.

I kind of missed that trend move up, but unless I'm mistaken, dbs at 13091 - 13095

Fairly boring ES today, just long-side bias off that big ABCD, 'ride until close' mode, unless management says otherwise. I have two areas above (assuming it can get over the current 99.75 area), 1301-02 and 04-05. The latter is the better 'triangle' breakdown price flow line. The current area is a breakdown TL from two early points of the triangle. I can't see that doing a whole lot, though.

Note the just past the 1.272 push here as it struggles. I think this is covered with Rat's DBS on the SPY, too.

Point is, several levels of 'trouble' are staring right at the ES in here. Let's see how it handles that.

I'd expect this to make a move out of this 'congestion' very soon.

yes, thanks jim

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