Here is the update of my longer term ES chart:



I know this potential drop of 10% in a couple of weeks is hard to conceive for some. But I can't find a better explanation for the corrective nature of the March-May rise

1280 area calling this? Recall the area just over 1300, too. Let's see how it handles this TL right in here (it starts on 4/18/11) first.

This 1.618 off an ABCD is played recently ad nauseam. To the tick this time around:

I decided to change my bearish ABCD labeling for good and watch the reaction at potential completion area:

Gold is not selling with the rest here:



It it respects this bearish 4PT the coming move down should last some time. If it doesn't we could say the same about the coming move up

Small KZ bearish ABCD into the green ML in ES:

Earlier they were knocking from below into red ML, now into the green one:



Nobody was opening - not a bullish sign

This is line to line so far:

So my small bearish ABCD above was just an AB leg of a KZ Flat? No problem - we can cope with that

Longer term this is a good place for first leg of the move off our bigger bearish 4PT to finish:



So this small bearish flat above not playing out would be the first hint for such scenario

am I completely nuts or are the q's sitting at 1.27 of last swing, at line, at 685 of move up from april low....?

Okay, see everyone later. I'll try to do those updates on copper and the Swissie like I mentioned in those sections, and get to jarek's question on that being a KT rocking chair pattern failure setup, some time this weekend.