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:

And they put almost 10 points on it in a huge burst there. Wow, am I surprised. Just about 4+ points from the area I mentioned...

Originally posted by jarek

Jim is bullish here, Jarek is bearish here...

Jim proved right again, Jarek proved wrong again

That be my area. Does it come back in off it, though, that we will see. Notice the 3D here, too. Is it close enough now to be considered touching the first part of the area? Notice how risk came on across the board as this rose. Same old game. They never change.

Originally posted by jarek

Originally posted by jarek

Jim is bullish here, Jarek is bearish here...

Jim proved right again, Jarek proved wrong again

Click image for original size

The green line magnet is simply irresistible:

So ES reversed right in the middle of our area:



We'll watch the action off this bearish ABCD

Originally posted by jarek

... We'll watch the action off this bearish ABCD

Just to the closest Kane Zone and up it goes :



It still could be the final climax move to the D point of a 1.272 ABCD, but this is the line in the sand

games at the line...

In the light of the usual Risk On for everything it is interesting to note that some major commodities are not participating in the recent rally. And Gold for example has a very decent reason for a bounce here:

gold may have a date with the median line

Originally posted by jarek

In the light of the usual Risk On for everything it is interesting to note that some major commodities are not participating in the recent rally. And Gold for example has a very decent reason for a bounce here:

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