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:

the orange line is .685 of the larger move down...
the dark blue line is the 1.128 of 35.09 > 33.53 swing
eye on 33.24 and 32.99 = .685 and .768 of move off low....

Originally posted by jarek

Crude bulls may still sleep well...

It's still above the Kane Zone, but I think somebody could wake them up:

what an interesting game

Originally posted by jarek

...TL creep or test and retests?

Looks like the former, but it dropped just to a nearby line confluence at exact .300 retracement:



We'll see soon if this small bearish abcd was a W4 or not

Here is the view from a higher timeframe:



This slightly upsloping set was respected really well recently

.886 on iwm

This action looks more and more for confirming last week's test and retest in SPX:

took it out

Originally posted by rat89

.886 on iwm

yup

Originally posted by jarek

This action looks more and more for confirming last week's test and retest in SPX:

Originally posted by jimkane

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

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