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:

tna 5 min
Getting a little bounce to the KZ off this completed bullish abcd where ab=cd.

is this some perverse version of bearish abcd?

TNA 5 min.
KZ held on the bounce.

TNA 5.
Will it react to the line at the 88? There's also a quartile line here from another set(not shown).

886



and that setup was busted right away.....and stopped moving at the 1.128

nope.......!

or was this what we were waiting for?

it looks bad here....but .886 on spy and dia and 1.128 on iwm.....now what do they want to do?

Originally posted by jarek

Crude bulls are still fighting at this important lower ML of a Schiff set. Could be quite a hint if they are not able to defend it...

Looks like a breakout with a textbook return move to me:

Medium term ES seems to still respect same Schiff set, this time from below:

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