I was not aware that ES is trading today despite the Memorial Day. Here is the update of our bearish ABCD:

Is this going to rise a bit now?

1.618/1

Here is the turning spot in $INDU:



This is after the fact, but the lines might be helpful going forward

It sure doesn't look like this will get off the floor today. The thing I notice, though, is how these big sell days are almost always one-day-wonders. It looks grim, it looks bad, it will never stop, until they make it back and way more, usually making back a big chunk the next day or so. Just something to be aware of. Until the time when it is real selling, and it doesn't do it. But, the news is all still really, really bad, so the market should be going up, as per the last two years. The worse the news, the more it goes up. Nothing has changed about that, that I can see.

And here are my current lines in $SPX:

It looks like that 17.25 will be the LOD.

Originally posted by jimkane

Watching 17.50-18 next...

We'll see. It's kind of in the middle of nowhere...

I keep thinking they will pick it up, and they keep selling it. Just amazing.

Yes, I'm mostly relying on the daily range, which can be a great indicator unless extreme buying or selling hits. This is very stretched. But, we are on the verge of 'extreme', it seems, and that has me wondering if another wave may not hit this into the close.

Originally posted by jarek

We'll see. It's kind of in the middle of nowhere...

So, let's see if it bounces (and, of course, rolls again) from the 15 area... Blah, blah, blah. If it keeps this up, one of these times it may swoooooooosh down hard.

interesting symmetry at the lines...