I guess Jarek isn't back yet.

rushing to the dance

ES now reacting to a small 1-min 'double bottom'. Watching this closely.

ES straight up like a rocket off that (1-min chart). GZ holding, and producing a reaction off the 'retest'. Like I'm surprised. Sometimes these guys are so predictable it just makes me laugh out loud, literally.

Now, this has formed a bearish 1-min DB ABCD. Let's see if they react to that, and if they do, do they bring it down the obligatory amount, then ram it up, or if it can make a new low (I see the chances of that way less than 1%).

My 'guess': big up now.

That's why I put 'guess' in single quotes. Not to hedge my posts, but because I was just doing an 'educated' guess. I can't imagine on a Friday they wouldn't take this out of the GZ like a rocket. Why? Because they almost always do, in my experience. And roofer has a gap on 5 set up at the same spot. So, is this a 'retest' of the GZ here? I'm just staying short-side bias, letting them shake and shimmy, and we'll see if it resolves down or not. I just can't see this GZ not capping the down move...

Well, that 1% was what it did. Maybe I was being sarcastic without realizing it, even though I've sworn off sarcasm in here, in an attempt to not 'be myself' and not 'teach how I teach', and try to be more clear in an obvious way. I was short-side bias, with this sitting on the GZ on a Friday in the afternoon, after big down. I just didn't see much chance of my bias 'paying me off' any more. But, I like to let things breathe, so I was 'forced' to sit on the situation.

I think the lack of sleep, and the frustration I always have about a centrally planned and controlled market (albeit one that I think is fantastic for trading, what a paradox and an irony that is...), just had me being sarcastic without realizing it. Just venting frustration, I think. Nonetheless, it did set a new low for the move, although just a nominal one so far, and it follow the pattern at a line and .382, in quite an artistic form.

Originally posted by jimkane

Now, this has formed a bearish 1-min DB ABCD. Let's see if they react to that, and if they do, do they bring it down the obligatory amount, then ram it up, or if it can make a new low (I see the chances of that way less than 1%).

Okay, let's try this again. I suspect they've finally switched to 'up' now.

Let me mention, though, it went to my lower set line at the low there, and reversed and started sharply up. At 27.50 there it hit the upper // of that same set, and is reacting. How it handles this is a big clue for me, and for how serious they really are.

Look at it 'retest' that line and react, again.

Wow, did they shake the tree all afternoon on the 1 and 3-min timeframes. I'm seasick. Glad to be able to take a break now. Pretty exciting stuff, though.