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:

maybe I'm looking the wrong way....but if it doesn't break the blue set and the retest is it just waiting on time to make a move?

on alert......isn't this the setup roofer showed that says watch out? could this just blast higher?....watching cci 10

Divergence with TICK so that can mean lower lows coming- very short term any way.
Or not. Only the market knows.

Originally posted by tx_ches

Divergence with TICK so that can mean lower lows coming- very short term any way.
Or not. Only the market knows.

We may already forget about a bearish ABCD ending in this beautiful area of confluence - its CD leg would have to be 3-legged:

whomp, that was fast on gld

meow

jarek has already covered this, but HOD so far 94.75. But the selling, so far, is just back to an obvious little TL, where it reacted. It's not convincing yet that this is going much lower (going much lower this moment, off this area).

Originally posted by jimkane

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.

I love this awesome preopen geometry. Kane EXP ABCD completing in KZ, and price rises to 0.886 fibo, also completing a 3D . The EXP morphs into another Kane EXP ABCD completing at 0.486 fibo, also a SL. Price rises to 0.886 fibo confluent with 3D-based ML //, forms a Kane Pattern-Line-Fib,, reverses and price drops in an ABCD with an ABCD in the BC leg. Also, Beauty and Simplicity in the markets on the 5 minute RTH chart. Thank you Jim, and to all the Kane traders for helping me to see this stuff.

Good Trading,

Al Kamego

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

Originally posted by tx_ches

I could certainly see it going lower though.