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:

my thoughts....everyone was waiting for 125 spy...maybe it gets hit, maybe not, aapl and the q's haven't hit their downside targets, but the banks seem to have...

magenta box is first 886.....1.27 is up where the lines meet

looking at the relative size of the gaps three days in a row

magenta fibs are from center of the gap

According to the methodology it should already be a short term W3 up:



Although in the medium term picture this rally off the major downsloping ML is hardly noticeable:

You show the 127 target and it's already past that. Is 161 the target for a W3 for the methodology?

Originally posted by jarek

According to the methodology it should already be a short term W3 up:

watch this .768/ .447 area??

Major downsloping lines broken to the upside, W3 up confirmed, so time to play some games :

Originally posted by tx_ches

You show the 127 target and it's already past that. Is 161 the target for a W3 for the methodology?

Originally posted by jarek

According to the methodology it should already be a short term W3 up:

The maximum length for the CD leg is 1.272 of AB leg, so after that it's not an ABCD anymore but a W3. 'All W3s are failed ABCDs' - Jim Kane

Thank you.

Originally posted by jarek

Originally posted by tx_ches

You show the 127 target and it's already past that. Is 161 the target for a W3 for the methodology?

Originally posted by jarek

According to the methodology it should already be a short term W3 up:

The maximum length for the CD leg is 1.272 of AB leg, so after that it's not an ABCD anymore but a W3. 'All W3s are failed ABCDs' - Jim Kane

Spy 1 minute.
Got an exp abcd that reached 161 - twice.
Got the PB to KZ on 2nd time which was at ML.



And looks like a DT abcd formed with that PB.

watch spy 129.60 = 886 and 1.618.....just saying....

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