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:

You see how the 11:35 (10:35 on your chart) high was a DB ABCD, too?

Originally posted by tx_ches

Originally posted by jimkane

Now I see how big (or not big) the bounce is, and then wait on the next area if it can't get off the floor. 'Too easy'.

The bounce as shown on 3 minute - to KZ of move down today.

Click image for original size

I don't know what you mean by a BC ABCD.
I've marked an area that forms a DB ABCD. Is that what you mean?

Originally posted by jimkane

You see how the 11:35 (10:35 on your chart) high was a BC ABCD, too?

Corrected above already. Trying to go too fast.

Originally posted by tx_ches

I don't know what you mean by a BC ABCD.
I've marked an area that forms a DB ABCD. Is that what you mean?

Originally posted by jimkane

You see how the 11:35 (10:35 on your chart) high was a BC ABCD, too?

Click image for original size

TNA is within pennies of the lml of the green set. I expect Roofer will post tomorrow on his exit at the lml.
TNA 30 min.

Sure looks like they want to rise this for a bit now. My next areas above are 93-95 and 96.50-97.75 or so. If it gets going 1306-08. I need to see some more price action to narrow that last one down a bit better.

This is quite a bounce as for recent standards. Let's see how the bulls will cope with the first Kane Zone:

... not best to say the least:



So far it looks as a return move to this broken TL defining Jim's first area. Bulls need more effort here to avoid returning to the waterfall pattern

So this is from one Kane Zone to the other for a small bullish EXP ABCD. Now we see:

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

Originally posted by tx_ches

I could certainly see it going lower though.