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

886 to the penny on spy....wonder what it wants to do with that?

I just can't imagine this tackling such an area without a checkback to clear it out first.

It may cost bulls a lot if it turns back here:

Okay, there's the checkback. Let's see if that's it, or just a checkback...

Yes, exactly. This might be it for today. Decision time. Let's see what it does.

Originally posted by jarek

It may cost bulls a lot if it turns back here:

Click image for original size

But just imagine all those stops, and it doesn't try to get them. I can't see that...

Checkback over, I think. What a tiny checkback. That would be extremely bullish.

Next area very shortly, I suspect.

I wonder if this wants to do the 20+ point range thing today and shoot for my next level in one day??? 34-36 today???

All stops hit, key TL 'backtest' here, second level basically hit.

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.