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:

That will be 20 or so points straight off that bottom.

Very interesting 'retest' of the highs. That wasn't 'expected'.

Flat ABCD? DT ABCD? This could sell...

KZ at multiple lines at that high, and it can't handle it so far. Very interesting. Let's see what it does with these possible bigger bullish ABCD's. It may just need a bigger base to push off of. And, it may be headed down with the relentless sellers. I hope so, but I still can't 'see' it yet.

It loved the flat at the most key line and .382. What an explosion. Will if follow through? Or just keep rolling up and down at this key overhead area?

and now a little bullish abcd too....who's going to win out?

Very curious the trouble it is having at this area. And how it refuses to sell off the area more than a little bit.

I think the bulls will win, but probably we won't see 79-80 until some time in GLOBEX. But, maybe it sells again. That is fine with me, as I'm 100% short-side bias for intermediate plays.

In here it looks like the bulls are about to get crushed. I wonder...

You all know what I wonder...

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