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:

If they drop it, I'm watching 73.50-75, and 71.50, give or take.

qqq and iwm to 1.27, spy to .886 on that move

it WAS the creep before....very tricky.....and now we have a 1.168/ 1.27....if they can't take this up the median line all bets are completely off

Originally posted by jimkane

If they drop it, I'm watching 73.50-75, and 71.50, give or take.

My major downsloping line is at low 60s now:

'Tan' book out in one minute...

and finally 1.27 spy

Yes, that's the next bigger area. I'm talking very short-term intraday areas that may start a bounce. And my favorite bigger area is still that 46-47.

Originally posted by jarek

Originally posted by jimkane

If they drop it, I'm watching 73.50-75, and 71.50, give or take.

My major downsloping line is at low 60s now:

Click image for original size

if they can't rocket this up and out of here forget it

Right off a level at 77, 5 waves down, Fed 'Tan' book report, and up it goes. But, how far up?

How far? New HOD and over that 86, I suspect...

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

Originally posted by tx_ches

I could certainly see it going lower though.