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

what an interesting spot here

or much higher I suppose...

Originally posted by tx_ches

Rat, on CF, it would be near Feb high so good place for reversal.

It's gonna dump... The ES, I mean. Just an opinion.

Boy, did they suck me in with the look of a dump they just gave it. Let's see from here, but what a sucker trap that look was. Making it look super-super weak, than snapping it up. Same old, same old for these guys. Usually I can 'outguess' their intentions.

Watching 22.50 if this gets going. Comments on my last post coming soon.

Notice the 1.272 ABCD at key area and KZ stopped this dead this AM, where it chopped for hours, and now is acting ready to take out that high, and the area. It may not be able to, but it sure doesn't want to sell off it like yesterday's area. Now, before I make my comments on the previous post, think about what I'm likely to say.

I hope everyone thought about this at least a little. They decide it's time to take a shot at the HOD, after all the chop. Take out a very key area, perhaps. From the exact launch point Jim, who generally is fairly good, he feels, at getting a market read, says it looks ready to dump. Is that a coincidence? Recall yesterday when they scared the pants off me before that short area. Now, I try to second guess them, but this time, they really made me think a dump was imminent.

I'm not saying I was shorting on support there, only that at that time it looked ready to give way. Again, are these guys good, or what? There is no way I will ever accept that this was not on purpose. The second it looks ready to dump hard they come in and run it straight up, right at the HOD. Too funny. But, useful for trading, I think. I don't mean fade every read the market gives, but know a trap, too, when you see one, or at least suspect it may be a trap.

Originally posted by jimkane

Boy, did they suck me in with the look of a dump they just gave it. Let's see from here, but what a sucker trap that look was. Making it look super-super weak, than snapping it up. Same old, same old for these guys. Usually I can 'outguess' their intentions.

Notice the smaller ABCD's now in EUR, AUD, and DX. Watch those.

Watch that Aussie.

ES next leg up and over now?

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.