At least we have a Sunday session to work with... Given the run up into the aftermarket close on Friday and the 'news' that the joint Israeli/US military exercise will be postponed, the market could really gap and run. On the other hand, we are hitting into a super-key area for the intermediate-term, and if the 'top' is in, this is an area it really should roll down off of. I think we are at a crucial time/area. I'm looking forward to this week.

It's sooooo close. I think that may be it...

Pretty straightforward read there. Typed that at 15:17, it posted at 15:18, low and end of move was at 15:17.

Crude is acting like it wants to pop up fairly strongly.

It has a 'nested' cup and handle formation, a cup and handle with a cup and handle in the other handle. In itself that's not something I trade, but when it lines up with a bias or another setup...

Watch this little bearish ABCD here at a .382 in the ES. It may provide a nice clue as to whether this is done for now, or if it is profoundly weak even after such a drop. Get the point I am making?

It does not get any more clear than that. Look at a 1-min chart. Crystal clear.

And crude does indeed pop up nicely. New high for the entire move.

Originally posted by jimkane

Crude is acting like it wants to pop up fairly strongly.

one more

It couldn't reach for the level I was watching, that will have to wait for Sunday night GLOBEX, but it did set the new high for the entire move by one tick! These guys, they are so funny. See ya all Sunday.