Jim suggested to take a look at daily charts of some secondary indexes and here is my current $RUT chart:



The green ML of a set based on big bearish 3D happens to be also a neckline of a classic head and shoulders. If bulls would not be able to defend this line next week, then a move to the lower ML should follow. This would also be a perfect fulfillment of a successful H&S pattern.
It is all the more interesting as this big bearish 3D fell dead on at the upper ML of a quite important set:

Understand, I have less than zero clue what game they are playing here. I'm just musing aloud as I try to second guess their plans while I wait for something to set up. I just 'know' there is some kind of game going on here, and some big move brewing.

Is this all a complex 'W2' off the low, and now up into 'W3'? I think so.

It's time...

watching 447 at 150.47

And there reaction is to sell? Hmmmm.

Originally posted by jimkane

It's time...

When this uncoils, it is going to be something. And I think it will be something because every last sucker trader is going to be whipsawed to death when they finally explode it. It will explode when they are all toasted fully, for that reason. It expended all the whipsaw fuel, time to run. Just my two cents.

I don't see how the move can be anything but 'up'.

Flat/4PT launch pad there?

And no, I haven't seen anything in the ES to trade intraday for hours...

Now, sometimes (I'd like to think 'usually') my reads are pretty accurate. Here I strongly wonder why I can only see 'up'. Technically it says 'up' to me. I'm like 'one-sided' right now. No way anything else, this is going to break 'up'. That has me seriously considering if 'they' are convincing me of that, or if it is a 'good' read. So, my inclination is to take that off the table for my assessment i.e. not be too influenced by that component right now. It may turn out to be dead on, but it is raising my suspicions. Just some thoughts on my thinking. I use plenty of geometry, but I also use my 'read' a lot. That's just my style.

Originally posted by jimkane

When this uncoils, it is going to be something. And I think it will be something because every last sucker trader is going to be whipsawed to death when they finally explode it. It will explode when they are all toasted fully, for that reason. It expended all the whipsaw fuel, time to run. Just my two cents.

I don't see how the move can be anything but 'up'.

It just keeps telling me up, and soon...

it might have to, and we'll find out soon

Originally posted by tx_ches

I could certainly see it going lower though.