Here is my chart of the weekend:

I'm watching to see if your purple schiff set turns into a green standard set.

If you use it that way, it overlaps with a prior downsloping set so it is really a warning line off it.
But looks like about to be broken as I type.

Originally posted by rat89

I'm still thinking 136.71 886 retest up there, but of course I thought it would just go there in a day, silly me

watching bear abcd at .618 though for some sort of pull back....to where though?

Click image for original size

thanks tx....i'm noticing that all pullbacks have been to very interesting spots.....wonder where the next one will be...

Originally posted by tx_ches

My numbers come out the same as yours but B is closer to .618 than .685 so I also looked at Gartley and Crab. They seemed to fit closer (.10 range for BC and XA calcs).

This action up here at this upper // area is quite interesting, as was the action off the lower // late last night. This move up and over the key downsloping area is anything but impulsive. It may launch out of this line to line action and thrust up, I've seen this happen, but it is not the most likely course of action. I guess the point is, this is not acting real bullish. I'm more interested in the ABCD area above, but this high is also a key area. We'll see.

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.

Not to mention that the immediate price action and technical layout right here screams 'explosion'. If it can't do it, that's a major clue. Also note the to the tick 'test' of the previous swing-high. That's 'do or die'. Failed 'tests' like this can get crushed.

Don't confuse or compare the three bursts I am mentioning with a 3D or 'three little indians', I am only calling it three bursts as a descriptor here. This is three pushes off a low, not three pushes into an area. It is nothing more than a way to describe what I am looking at.

corner!

Good catch. And after the 88.6 gap too. If it fails, will it fail big?
I'm ready either way.

Originally posted by rat89

corner!

I'm 100% on the fence

Originally posted by tx_ches

Good catch. And after the 88.6 gap too. If it fails, will it fail big?
I'm ready either way.

Well, the bull abcd with the ab=cd failed so that favors the shorts.

Originally posted by rat89

I'm 100% on the fence

Originally posted by tx_ches

Good catch. And after the 88.6 gap too. If it fails, will it fail big?
I'm ready either way.

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