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

Hmmmm, so I see the Nikkei futures dropped 16%...

yes..there is some other work there also...

I really wonder if this may truly crash, I mean big time. If the bid gets totally pulled, there is nothing but air until 666, in my opinion. I'm not saying it goes right to 666 area or anything like that, I'm just saying, this is not a market that has built up levels of support, as we would usually see in a rally. This market is totally 'fake' and has nothing under it at all, all the way down, in my opinion.

If those cores are really melting down like they say they may be, Japan may be F'ed up huge time for decades, who knows, and the world may be pretty messed up, too. Probably not, but look how they lied with the Gulf oil spill. We are already getting warnings here that the cloud is headed right for my area, and KI tablets are totally sold out everywhere. Won't help us much with the Cesium, either. We'll see. It's probably over in here, at roofer's main areas, and the printers will show up and start manipulating it up. But, you never know when they may lose control...

it gave a small trigger 1257.50...abcd forming a little higher...for management purposes..

watching 65-68...have some key lines slightly higher...

Nikkei just bounced about 5% off its low. The size of the moves are staggering...

ok first spot in ES at 66 checked it back...now watching key fibs and lines at 61-58.75

Nikkei bounced like almost 700 points off its low! Wow. Like over 8%.

Watch 61.50, as that may be enough here.

'Quickly as you can, Grasshopper, snatch the pebble from my hand. When you can take the pebble from my hand, you will have learned...'

Paraphrased from the TV show 'Kung Fu'

Originally posted by EricD

ok first spot in ES at 66 checked it back...now watching key fibs and lines at 61-58.75

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.