Let's see if this works....never tried to start a new topic...

having bounced off the .886 friday, will it aim into the area of interest up at the .886 of last week's high, or into the box at 1.128 - 1.27, and what will it do up there?

There is some symmetry in that both blue arrows are at .886....ultimately you might expect a move that mirrors the mid march - may move, but without a significant pullback into an abcd, which we haven't seen yet?

Just look at that.

And I'm saying it again...

Originally posted by jimkane

And every time it starts to bounce I say 'Is this the big bounce I'm expecting?'...

Okay, I'm almost certain that was it, and now we go up for awhile. Although the worldwide events may be a temporary game changer, and we may actually see some downside, I think the odds favor a 20+ point up day tomorrow, crazy as that seems. I'd prefer not, but I'm ready for it. A good chunk of that may happen in the GLOBEX overnight.

Initial Alcoa earnings are said to be a miss. That should propel the stock up nicely in this Bizarro World.

And there it goes, the stock is up from the close...

ES futures exploding, now a full 7.5 points off the low. They like the miss, it's good news (remember bad is good, good is great).

The ES is now only 12.5 points from what I thought it may do by tomorrow!

Very short-term here I am extremely bullish. Makes me sick to say it, but I would be shocked to see anything but a bounce here.

Oops, that was a fast 10+ points there. So much for being extremely bullish very short-term. Actually, two things come to mind. First, don't get me wrong, I love this action, as I'd still like my intermediate-term bearishness to play out. And second, this additional thrust down doesn't mean we won't be way up tomorrow. It looks grim for that, and I'd prefer (strongly) that it keeps selling, but I am still waiting for the manipulators to show up.

ES 60 minute.
Could this be a bear abcd.
B slightly under the 38.2 of retrace from marked blue line.
C at 61.8.
D at 127.
Almost to 38.2 of entire move down - which coincides at 146 BC.
Did not (yet) find a good ML intersection. Found a quartile in the area. Update: did find some old ML sets on 15 and 5 that acted well in past.

ES 60 minute.
That down leg could have been a wave 4. It stayed above the wave 1.
I've marked the line in white where W1=W5.

roofer,

I am very sad to hear about your recent misfortune. I will keep you in my prayers. I pray you have a complete recovery and return to your full strength and health. God bless you.

Good Trading, Al Kamego