The debt limit issue should be resolved soon.
Be ready.

hmm......

Okay, I'm strongly long-side bias intraday on the ES (look at the last chart roofer posted!). Here are my intraday levels I am watching.

55.25-.75

66.75-67.25

78.00-78.75

Center of areas, as usual.

I have a minor area around 60. Note that the first area is the bearish ABCD, based on the 1.000.

Hits 55.50 and starts to check back... I'm shocked.

Shocking. I'm just shocked. Now, watch here, in case it is just a small checkback and up it goes.

50.75 there is also the .300 off the last huge leg it just did.

Kane Flat ABCD completing at Kane Zone/Upper ML // with sweet follow thru. Price turned back at 0.886, 1.128 fibo confluence with SL, but found support at 21 SMA and went back up.

Al Kamego

With those two obvious swing points on the 5-min, there are some nice layered overlaps in here, .300/.382 and .382/.447. I'm watching these to see if one of them sends it back up. I expect one will.

Hmmmm, lower high?

Was going to say, they need to show that isn't a lower high pretty fast, and they did before I could even post this.

And once again, this struggles to not form a lower high. The bears are not totally gone. They are severely wounded, but they aren't gone.

Originally posted by tx_ches

Great job, Al. You caught a lot more things. You are good at drawing the SL. I particularly missed 2 even after drawing 1 and 3. You also caught many more .886. I particularly like your 6.

I thought this was a great exercise on how well the tools can work near a turn as joed has said. For myself, it also showed me that I had made some progress with the tools since the last time roofer gave a list of charts to try them on.

For the record, I did try Jim's two recent detailed postings on action, levels, and turns but gave up in frustration. I never know with his stuff if he means 240 min or 3 min.

Thanks, tx. I spend probably too much time looking at the smaller details and not enough scoping out the "bigger picture," like the turquoise line 4. Kane TD ABCD. That is a good one. I looked at your work and picked it up right away. I do not know if I would have seen it by myself. I need to spend more time looking at larger as well as smaller timeframes for larger Kane ABCDs and structure. Many times I have been mentally involved in a smaller scale pattern, and missed an easy, larger Kane ABCD. This work requires a lot of expertise. Please keep up the good work.

Thanks, roofer, for the invitation for us to try our hand at your techniques on the SLV chart. I am sure there are a large number of things that I missed.

Thanks, Jim, for hosting this forum and sharing your thoughts. There is surely a lot of your work that I don't "get," but I am working on it.

Good Trading,

Al Kamego