There is not much to add to the extensive coverage of the recent weeks here. While looking for geometry of Friday's turn on the continuous contract basis I came up with the following picture:



We have an almost ideal .382 bullish ABCD here. Thanks to Roofer's findings based on thousands of examples we know that probability of taking out the high equals in such case 87%. What's more in order to hit Jim's target zone at the line, a pretty fast move would be required... We'll see next week if we are on the right track and ... in the right train

Nah, those bonds were announced well before that. So, it had to be an intervention???

ES just going nuts. Now up 17 off that GLOBEX low. Unreal! And the yen just took another leg down (basis futures, FX traders think the opposite).

And here's the intervention link:

http://www.zerohedge.com/article/we-are-races-boj-intervenes-fx-market-sends-nikkei-surging-g7-agree-plaza-accord-v2

Yen still dumping...

update .....

talk about coming out of the hole............

gold at decision...

So all the recent action back and forth around this broken ML turned out to be an .382 4PT/Flat hybrid:



The most distant target for W4 was already met at lines, so we should know soon if this really was W4 or not

My yesterday's scenario changed slightly, but only if it comes to the shape of ABCD and not to the spot to watch:



Now that would be a bearish KZ EXP ABCD of which the DB ABCD from 2 days ago would be just an AB leg

With international war in Libya looming over horizon it is no wonder that Crude only accelerated through this all important upper ML (which also proves importance of this set):

This is how real W3 behaves: if there is a geometry in the closest Kane Zone - it has to be respected:

Practice work. I consolidated what Jarek did on the ES 15 minute chart. I'm only showing the last 2 days -- from where I left off on Wednesday.