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:

Straight shot down on bad Philly fed number and mkt rebounds immediately straight up.

I think it's determined to stay above the 200 dma.

Originally posted by jarek

Bearish ABCDs are still pounding the market...

Next one to watch:

which, if I'm correct, is just below that famous range we keep referring too.....

Originally posted by tx_ches

Straight shot down on bad Philly fed number and mkt rebounds immediately straight up.

I think it's determined to stay above the 200 dma.

Originally posted by tx_ches

Straight shot down on bad Philly fed number and mkt rebounds immediately straight up.

I think it's determined to stay above the 200 dma.

This shot up looks more like a bear market rally than an usually steady advance after a retest, but we'll see

Originally posted by jarek

Originally posted by jarek

Bearish ABCDs are still pounding the market...

Next one to watch:

... just to .300 at lines. Time to look to the upside?

Originally posted by jarek

...Time to look to the upside?

I haven't noticed that on higher timeframe it could still be bearish .382 EXP ABCD, so it needs to clear this one first:

126.32 - 126.35 = 1.27 dbs......just saying

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