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:

yes, it's a refreshing approach

Originally posted by jimkane

It sure was. The sellers were very short-term, and up like a rocker it goes. Amazing. So, it didn't sell into the close, as I first suspected, they defended it once again. Picking up on that sell climax signal made all the difference in thinking. See how I don't marry any scenario, but switch concepts the second price action gives me a clue? See why I talk about clues so much?

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