Welcome back everybody! I just returned from my longest holidays in many years. And it looks like the best trading action of the year started just after I left and lasted for whole that period... Coincidence? :-)
Fortunately charts tell us, that it should last for at least some time to come:

Five-Point pattern.

Al Kamego

hmmmm....spy just saw that .447

First test of the viability of the potential downtrend off HOD:

SL down from Five-Point Point D, Kane EXP ABCD, Point C deep, 1.460 fibo, probably outside Kane EXP ABCD parameters, I do not know if Jim would allow that. SL-based ML Set, except ML Point 2 set on Kane ABCD Point A, so ML Set "spans" Kane ABCD at Points A and D. Kane ABCD Point A closes near GZ, Point C probes GZ, price reverses down at Point D, price probes GZ again, reverses, finds resistance at ML Upper //-21 SMA confluence, nice down move. I hope I am learning some more about context.

Good Trading,

Al Kamego

Watch the ES closely right in here...

interesting how it just reacted to the .447 of the whole move down....is that the context?

Like I said...

Originally posted by jimkane

Watch the ES closely right in here...

With line work and a pseudo-ABCD, yes.

Originally posted by rat89

interesting how it just reacted to the .447 of the whole move down....is that the context?

Notice how the GZ here stopped the drop dead.

Top of the hour FOMC minutes.

finally...