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

here it is....green set if that 1.27 is meaningful here..

Our bullish ABCD has fully played out already:



Will it now go for this bigger bearish one?

Unlike ES, $SPX doesn't have much more room before confirming W3 up:

Nope, not even close. They convinced me they were for real on this, and they weren't. I didn't get this read at all. My follow up post about watching that 1.272 off the ABCD was the better read. That's why I look at several 'likely' scenarios, so I'm ready to react to what it does and not get taken by surprise. Notice the flat/4PT hybrid this has formed in here as we wind down. Closing it at another key area. I'd think they'd shoot for that next area in the GLOBEX, surely before the open. Will that happen? Who knows. It's just a scenario I will be watching as I follow the GLOBEX session. They may dump it.

Originally posted by jimkane

That area I mentioned is as close to guaranteed today as I have ever seen, in my opinion. Outrageous.

Imagine, for a second, if this was a 1.272 ABCD completion that pushed up over that key 'backtest' TL, and they dumped it here, complete with lower high. Just a thought...

Futures rising nicely towards the next area, as expected.

1.460 of our bullish ABCD reached, major check area right above:

Originally posted by jarek

4th in a row in EUR?

Nope - after nice initial reaction bulls came back with a vengeance. W3 up now?

A day like usual in Silver - after almost 7% down it went up more than 5%



We could label the last developments as one big bearish TD ABCD so bulls need to be careful here

And update on our bullish ABCD in Gold where bulls are still in control:

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.