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:

let's see if they meant it when they hit the 886 into the close...

tna 1 minute.
I'm wondering if we have a W3 leg off the W2? retrace to the 78% level that closed Friday.

First pullback at ML was at 78 level from high. 2nd PB at ML was at 88 level. It's nice not to have random action.

Originally posted by jarek

Nice initial reaction just to .447 to the tick... We know what it suggests

... and yet ES has clear problems with upside continuation. I'm thinking about returning to my original overnight idea of a KZ 4PT despite this ugly looking CD leg:

In $SPX CD leg of a similar bearish KZ 4PT looks much better :

tna 5 minute
Could be a short term bull 4 pt here.
And could be a C point of a forthcoming bear abcd.

Is this now a new algo that every bar has to test the upper ML before a move can start?

bearish abcd's everywhere.....

watch the retest for clues?

who has the one copy of the manual?

Originally posted by jarek

Is this now a new algo that every bar has to test the upper ML before a move can start?

roofer

Originally posted by rat89

who has the one copy of the manual?

Originally posted by jarek

Is this now a new algo that every bar has to test the upper ML before a move can start?

tna 5 minute.
Will it reach the 88 line on gap day and turn?

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