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:

Originally posted by jarek

...This shouldn't have been W4 of any kind so eventually it should go higher than the target zone for such wave

And yet ES found strong resistance at double 1.460 at line:



This 1.460 is a number to watch - there was a 1.460 at last bottom and now this double 1.460...

Originally posted by jarek

... But none bullish ABCD failed so far...

The first one is close if bulls don't counterattack soon:

??

Gold according to the plan and the target gets closer and closer:

This is as close to free money in Bonds as one can get:



And this is just the beginning IMO.
Jim - you were supposed to post your version of this story

Medium term ES reached one of our well known lines at HOD:



But I hardly see it as a retest of this line from below. Just a good place for a short brake during this rise IMO.

"objects in mirror are closer than they appear"

Originally posted by jarek

Gold according to the plan and the target gets closer and closer:

It's time to call it a week in my case. Good trading and have a great weekend!

now this is funny

Originally posted by jimkane

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

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