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:

Originally posted by jarek

... The question is: was this bigger 4PT a mere W4 or something more?

If this high at line and .447 is not taken out before the bottom is taken out, then I would risk saying it was something more:

It was taken out and now chances are growing that it was just W4:



And it such way we could combine Joed's bullishness with Jim's conviction about the need to take out yesterday's low

I keep asking myself how we get the turn before stocks like goog complete their moves....do we pin to jim's key level into the close of the week? just a thought...

Bullish TD ABCD on daily still in play IMO:

We are back at ML of that important Schiff set:

resistance at the .447 once again just now...

Bearish ABCDs are still pounding the market. Now such a TD/Flat hybrid:

Straight shots off an ABCD to the Game Zone often end up with the subsequent ABCD failure. How about this time?

... same as in majority of cases:

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