With the bearish case on Bonds being so touted recently I'm wondering whether it's not a big smokescreen suggesting that quite opposite may happen... Especially after looking at the following charts:

LOD today was 16.00. Recall 28.75 produced a 23.75 point bounce by my data. I'm not mentioning that to imply this bounce will be similar, I'm just saying that area produced quite a reaction. 16 may or may not do any more than this current 11.25 points. Who knows. But I posted to watch 16 a full six days ago, and it got itself there, and reacted right off it. My other lower areas have been posted, in case this continues to drop.

Posted-05/11/2011 : 17:16:27

Originally posted by jimkane

ES areas I'm really watching are... 1316 is also worth watching for me...

Posted-05/12/2011 : 01:40:44

Originally posted by jimkane

Boy, ES 28-29 is just calling this... Then we'll see about that 16...

Just a comment on the insanity of this market. The ES spent the last hour in a range of 3.75 points, and it traversed that range essentially from near top to bottom, or bottom to top, ten times in that hour! That's just nuts, in my opinion.

interesting....what I don't like yet is how the cci 10 on the 30 m cycled up and price barely moved...I'm still feeling like this hasn't reversed yet. the last low was a 1.27 and no setup off that. I added what I think is your last schiff set, but anchored the low slightly further out..

Originally posted by tx_ches

Rat, I used SLB 60 minute and got some X's. I think I used the same lines as yours. But I added some //'s to the red set which gave me the X's. But it's cheating because until the first circled X I would have had no reason for the line.

Risk is definitely coming on in ES, CL, GC, SI, AUD, EUR, et al in here. As The Cars said: 'Let the good times roll'.

ES now 15.50 off that 16.00 low... Not bad. As I said, I suspect we may be headed up significantly. It just can't follow that same obvious pattern as the Feb top...

Very key line here at this 31.75 high. I'm not saying it will roll it over, but I am watching to see if it does. And if it comes in, I have the areas on to watch. KZ, lines, put it on there and see how it handles things. Same approach pretty much every time.

I couldn't find this Jim's "very key line" at 31.75 Here are the lines I'm currently watching in ES:

The market would have to drop from here before the open in order to keep the move down in the main indexes intact:

just traders trading..... if the red line green set on yesterdays close was to be valid,in the face of the insane last hour bullishness, then OUR TOOLS, AND NOTHING ELSE.... should have pointed to RISK OFF!!! in the face of the manipulation in the indexes.... i think they did their job.... and all the way down today... they said repeatedly trend day shooting for targets...