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:

And you know what that may mean...

Originally posted by rat89

another version of the creep

Click image for original size

?

Originally posted by jimkane

And you know what that may mean...

jim, or anyone else who knows, do you know what the offset is between es and spy at the moment?

Originally posted by jimkane

The levels I am watching on the ES are:

~1290-92 plus or minus

1277-83

1246-47

The lower area is particularly intriguing. I think the middle level is the highest probability for a move and then a bounce, based on looking at extensive charts over the weekend, and seeing almost everything set up for one small leg down into a key area. If they all did that the ES would likely go to the middle area. Then we see.

There is also a very, very key line (with convergence), lining up with a very key .300, at 1262-65, so I will also see how it acts there (if it gets there). I probably should have just put that one in with the above levels, but I broke it out because I just don't have the type of additional Fib confluence there I'd really like to see. It's still quite a area to watch, though.

Keep in mind, too, the 'talk' is up right from here, now, with no additional drop. It might be. It is in an obvious area right here, with an obvious TL, SL, and in the 1.128/1.272 area of that big blast up. It could launch from here. We'll see.

9.96 to 1, basis June contract, which rolls out Thursday. 9.92 basis Sept.

Originally posted by rat89

jim, or anyone else who knows, do you know what the offset is between es and spy at the moment?

Originally posted by jimkane

The levels I am watching on the ES are:

~1290-92 plus or minus

1277-83

1246-47

The lower area is particularly intriguing. I think the middle level is the highest probability for a move and then a bounce, based on looking at extensive charts over the weekend, and seeing almost everything set up for one small leg down into a key area. If they all did that the ES would likely go to the middle area. Then we see.

There is also a very, very key line (with convergence), lining up with a very key .300, at 1262-65, so I will also see how it acts there (if it gets there). I probably should have just put that one in with the above levels, but I broke it out because I just don't have the type of additional Fib confluence there I'd really like to see. It's still quite a area to watch, though.

Keep in mind, too, the 'talk' is up right from here, now, with no additional drop. It might be. It is in an obvious area right here, with an obvious TL, SL, and in the 1.128/1.272 area of that big blast up. It could launch from here. We'll see.

Jim's first area is still helping this market not to fall apart:

$RUT is also hanging around this all important green ML:

Swooooooooooooooooooooooooooooooooosh. But, it doesn't look like that is the plan for today. We'll see as closing time gets closer, though...

Originally posted by rat89

?

Originally posted by jimkane

And you know what that may mean...

Click image for original size

For now. Despite what I just posted, this is starting to look 'ready'.

Originally posted by jarek

Jim's first area is still helping this market not to fall apart:

Click image for original size

I was thinking so too.
I saw that abcd with pullback to KZ.
ES 3minute.

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

Originally posted by tx_ches

I could certainly see it going lower though.