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:

64-66, 68.50-70.50, 73.50 are my appx. levels, posted quick, as I'm real busy.

Originally posted by jimkane

64 or so next?

I wonder why Jim mentioned it?

It's struggling with the flat here, at 63.50. Watch the small KZ here to see if it can push up and take the flat out.

I'm easy to figure out if you know the tools.

Originally posted by jarek

Originally posted by jimkane

64 or so next?

I wonder why Jim mentioned it?

Click image for original size

It's liking the flat. More defense of the LOD coming? Or will it finally give way this time?

It could have been a flat just short of the closest Kane Zone:

You're much faster today, Jim!

I don't see any way they can hold it this time.

That's what I think.

Originally posted by jarek

It could have been a flat just short of the closest Kane Zone:

Click image for original size

Could we see 46-47 today? The odds of that would seem slim, but if they lose this area, and can't hold the minor area on the way, maybe...

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