I'm wondering about possible scenarios for a full playout of this test and retest at SPX showed here on Friday:



... and the only reason for a quick drop from here to the lower ML could in my opinion be a failed 5th wave at SPX and ES. Because on many other indexes the recent rise looks like already completed 5th wave:

Lot of things at this 13.75 area...

Once this key 13.75 area goes (gives way), this should really get moving, I suspect.

Get ready. 3, 2, 1...

Crude about to take out the top of its 'basing' range. Just as the ES looks ready to launch over its key area. Or will they???

This thing behaves like in real W3:

I have some concern this may roll down. CL should have taken out that range high there. Maybe it will soon, after the pit close, but that doesn't look like 'risk on' to me...

something roofer taught me....on a day that opens with a gap, pay attention to the fibs as measured from the center of the gap (magenta set)

no one I've ever shown this to takes it seriously, so it's a good place to know people will be caught off guard

roofer? Who's roofer? That sounds vaugely familiar, but no, I don't recall no roofer...

Originally posted by rat89

something roofer taught me...

This downsloping set is causing bulls a lot of troubles in the last 2 days:



They'll have to find the way for getting over it

Yes, center of the gap Fibs can be very powerful, and like anything new or different, most just laugh it off. This is good for us, we should prefer they laugh at everything we do. The more they laugh, the better for us, I think.

Originally posted by rat89

something roofer taught me....on a day that opens with a gap, pay attention to the fibs as measured from the center of the gap (magenta set)

no one I've ever shown this to takes it seriously, so it's a good place to know people will be caught off guard

Originally posted by jimkane

... so the Gross post will be short...

I see that we have a new definition of "short"