Here is my chart of the weekend:

And there it is. Look at those stops!

58.25 is a key area.

green set is schiff.....see the abcd in circle

I think this wants to get to that 1390 plus/minus 5 area I mentioned before. Not today, of course, but soon. Look at unleaded gasoline, made back about 40 of the 50 cent drop already. Aussie back to 108. Euro starting to rise. CL at my key area near 105 basis July, but it looks like risk is going right back on. Another one day wonder. We'll see. But that's what I suspect, back to business as usual. Let's see what the ES does with this upcoming bearish ABCD.

update of my 15....you can see the 5 pt developing

Originally posted by jimkane

58.25 is a key area.

This is most probably why:

so....when you get 886 and price doesn't roll, and you get creep, and tight abcd.....look for push in favor of the trend.....

That's why. But my 'gut feel' is that the odds of it playing out to the downside to any significant degree is about 1%. I see this market with only one way to go. But, we'll see. You never know.

Originally posted by jarek

Originally posted by jimkane

58.25 is a key area.

This is most probably why:

Click image for original size

Did everyone notice that it did follow this same pattern?

Originally posted by jimkane

Here's an example of what I mentioned above. Look at the ES on a 5-min all-sessions chart. Start at 0:50 AM. Three pushes up (the first two lows were a DB, in the comparison it will be a series of all higher lows), a checkback, and then a burst up, despite the corrective look to the action. Now go to a 60-min all-sessions, starting at 14:30 PM on 5/6/11. Three pushes up with overlapping swings. So, I am watching for the possible burst up, like the 3-min did. It seems technically 'odd', but especially on the bull side since the great manipulations started, it is not unheard of.

And now Druckenmiller joins Gross and Grantham. Maybe it just took one person (Gross) to say out loud the Emperor has no clothes? At some point the bond vigilantes will overwhelm the Fed. Maybe not yet, but some day...

http://www.zerohedge.com/article/druckenmiller-calls-out-treasury-ponzi-scheme-its-not-free-market-its-not-clean-market-ident