ES approached major downsloping ML on a daily chart:


Acceleration, bounce or coil now? In case of the first, our target area is just 4-5% away. Exactly the same as in case of $RUT for the move off its head and shoulders pattern confluent with the green set lower ML:

If this small bearish .786 ABCD gives way, then I'll be watching bigger bearish KZ 4PT at lines:

Nice reaction off this .786 ABCD (with yet another one slight .447 overshot):



This was the second bounce off the major ML on daily chart (the thickest red line) and much smaller than the first one, suggesting that this line might be in jeopardy

Originally posted by jarek

Looks like this upside breakout after a TL creep in Gold could have been a bull trap...

The reaction to red upsloping lines will give us the answer if it really was:

EUR almost in a free fall off this H&S:



If this lines confluence gives way, the downsloping ML of a set confirmed by test and retest should be the next target

Crude bulls are still fighting at this important lower ML of a Schiff set. Could be quite a hint if they are not able to defend it:

In Silver bulls could face a failure of a bullish DT ABCD:



Are commodities trying to tell us something here??

We will know soon if this .786 ABCD in ES was just an AB leg of a bigger one or if the defending of the lower ML by bulls is a sign of something more to the upside:

Nice place for a reversal, but one has to admit that the ball is with the bulls right now:

Nice initial reaction just to .447 to the tick:



We know what it suggests...

Okay, that's it for me. I probably won't post again until the Sunday night session.