Okay, I guess jarek must still be skiing, so I'll start this week's topic. Let's make it another monster week for quality posts.

iwm is doing some wacky things today

It's like in Shakespeare's play - ABCD or W3? - all the time

sorry to drive you all crazy with x....there was another way to look at this...

This is a warning for bulls - W3 shouldn't have gone below the Kane Zone:

Crude is some serious s#%& in here. Bye-bye economy and middle class. And yes, I see that it is now reaching a key 'resistance' area. But I only see this as a place for a temporary checkback on its way to well over $200. Bye-bye economy and middle class, bye-bye...

Maybe this is a useless statement, but this 'feels' like it could do a major rollover in here. If crude stops in here and comes in, I think the ES may not roll. And I don't expect crude to be able to continue much more without some backing and filling. But, it has been consolidating for a long time, so this move isn't too much for that, and it may have more to run. I guess I'm saying the ES is setting up for a major rollover, higher timeframe, if they aren't careful with it. That's all.

Notice the ES 3-min TL.

If you mean the upsloping one, it's a good candidate for a breakout after the creep:

Looks like X is in a channel - 3 touches at top with 1 overshoot and 3 at bottom. May need to converge on a set intersection - possibly green and purple - to get the steam to break top of channel and hold above.

Originally posted by rat89

sorry to drive you all crazy with x....there was another way to look at this...

Click image for original size

Draw an upsloping TL from the points you have marked lower case 'a' and lower case 'c'. Note the current area. It looks about to give way.

Originally posted by jarek

If you mean the upsloping one, it's a good candidate for a breakout after the creep:

Click image for original size

Thanks - I must have been sleeping indeed