Just getting ready...

6.50 area here is the key 'test' of this reaction right off the bearish ABCD. Now we see. I think it is most likely to head up. Sure wish it was the start of another leg down, though...

'Give it to me, baby...'


Here's the reference:

http://www.youtube.com/watch?v=nzY2Qcu5i2A

The Offspring - Pretty Fly (For a White Guy). Most will not enjoy this video, but you hear the quote in the beginning, and you have to know I hear it that way when I sing it out loud in a situation like the above.

Watch the first GZ here at the TL.

Stopped it dead, so far.

decide.....?

Exactly, rat. Decide.

Best case scenario is a bounce to 6.50 and then a roll to a new LOD. But I suspect 'chop in the low end of the range'. I'd love door number 1.

It only bounced to 6.25 and then reacted. Darn. I hate to be off by one whole tick. But, and this is how I'll read the next big clue, does it follow through? See, I feel, if it is going to roll, in most cases it would drop fairly quickly here. If it starts messing around, holding this area in here, that means chop mode to me. Let's see. Watch for the quick burst up 1-min bar...

Higher low. Big 1-min up bar. Unless this is an ABCD forming in here, see, this is what I don't want to see...

feels like it wants to move up fast

I also wish you all Merry Christmas.