Can the recent high in February stay with us for quite longer than almost everybody is expecting at this point?



We may not know the answer to this question for some time to come, but in my opinion this is a viable alternative to consider!

Too bad, it had a little 1.000 ABCD to the tick to kick this off, but I just couldn't 'see' the short side yet... Now I'd have to have a rip to sell, and it would have to be a 'real' move. Tough to short into a rip that might be part of a snap trap... Just outlining some issues. Notice crude moving towards its highs. That one is easy to be on the long side of already.

the odd thing about monday... is we had a price thrust but no breadth thrust...

Right, exactly. So, what does that tell us??? Other than that the market is acting oddly, is manipulated as heck, and is being driven by a few big names...

And all things being normal (in the 'old days') it wouldn't then follow through to the upside.

Another new high for the move in crude.

What a pathetic rip that was, 2.25 ES points. Not much to get on board, but beggers can't be choosers. These are the kind of rips that almost always burn me. One little 'retest' and up like a rocket. We'll see. This is a great example of what you don't want to see, and how you don't want to position yourself. Even if it plays out very well, all that matters is, over time, what do a series of these kinds of layouts do. If you can't 'see' it at that small bearish ABCD right after it left the apex area, if it doesn't give you something right after that, you have to let it slide. Bad positioning is worse than no trade. That's my opinion.

Yep, retest and right up, just as I said. Positioning is so important, and the traps are obvious after awhile. Now we see if that was it, or if it rolls off this DB ABCD, or from the next area up.

Well, it did roll off that DB ABCD, but is still hanging around the lows. It needs to get moving, and may on the European open, but in what direction? I'd think that open would have a strong upside bias. We'll see. Right now the positioning isn't too bad.

To sum it up: ES failed at our yesterday's bullish ABCD and now tries to continue the move down with the help of this tiny bearish flat:

Here is an important question to ask at this point: can it still be considered a bearish 1.272 EXP ABCD??

you mean white bg vs blue? interesting...

Originally posted by tx_ches

rat89,
I like the color contrast on your last charts -easier on my eyes.