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:

Bullish ABCD broken to the downside - I'm scratching the reverse H&S:

the 1.46 off 129.51 = 125.98
the 1.27 off 126.32 - 127.94 = 125.88

is that what needs to play out here?

This is 6th swing of 10 points or more in alternating directions in the last 24 hours or so :



Can you remember anything like this?

it's coiling up for something.....

Originally posted by jarek

This is 6th swing of 10 points or more in alternating directions in the last 24 hours or so

:

Can you remember anything like this?

Only during the meltdown...

Originally posted by jarek

This is 6th swing of 10 points or more in alternating directions in the last 24 hours or so

:

Click image for original size

Can you remember anything like this?

Keep an eye on crude. 91 handle now.

68 half next level on ES? That might have been the low there, though.

Watch this 67, though, in case.

Originally posted by jimkane

...That might have been the low there, though.

If this bullish ABCD doesn't hold - I'm switching to a bearish mode:

the creep is back

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