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:

Current HOD lies in a very interesting spot - x marks the spot coming from major MLs of 2 important Schiff sets:

ES 5 minute.
At KZ.

Small swoooooosh coming?

Hence my 84-86 area. No mystery to what I do.

Originally posted by jarek

Current HOD lies in a very interesting spot - x marks the spot coming from major MLs of 2 important Schiff sets:

Click image for original size

If that was all the swooooosh there was, I'll be disappointed. It's also a red alert.

Originally posted by jimkane

Small swoooooosh coming?

ES 1 minute.
Barely cracked the KZ and TL.

Where are those pervasive sellers??? Interesting question, huh?

See how clear the clues can be at times, if one just sees them?

Now let's see if this is another leg up, or a bearish 'W2' on the 1-min.

Everyone should know what I think.

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