I sure wish someone else would step up and start these weekly topics...

Jim,

I really appreciate your comments about the price action and the forces at play here. Thank you for sharing your insights.

Al Kamego

ES coming into a super-key area in here, let's say 42-44. Big decisions are going to have to be made right in here. I'd prefer it to really get going to the downside, but I rather suspect this area here, maybe even this 44 it just hit, may be it. I can't wait to see.

Boy, I wish this would just flush...

You're welcome, Al. I have so much more I could and would like to show, but just don't have the time to do it right. And if I can't do it right I don't like to do it at all.

Originally posted by albert

Jim,

I really appreciate your comments about the price action and the forces at play here. Thank you for sharing your insights.

Al Kamego

42.50...

Originally posted by jimkane

ES coming into a super-key area in here, let's say 42-44. Big decisions are going to have to be made right in here. I'd prefer it to really get going to the downside, but I rather suspect this area here, maybe even this 44 it just hit, may be it. I can't wait to see.

Very, very, very key short-term area here.

35.75-36.75 is the next level down I'm watching, and is also profoundly significant by my work, short-term.

Now, if this does get going to the downside, after that I have let's say 27.75-29.25, and then around 22. No bounce in here, though, and that tells me a lot. This area here should show a bounce. If not, it's still not the end of the world, as long as the next level I just posted draws the bounce. If this shoots for either of these areas posted in this post without a 'technical bounce' at one of my levels, well, then I'd be thinking one-day wonder scary drop to the above. Just some thoughts. It may reverse at this current level or the one just below and resume its grind. All I can do is see what it does at this point. I just love trying to decipher the clues...

BTW, if it wasn't clear, my bias, very-short term to short-term, has been down since that comment of mine on 51. Yes, it's countertrend, but it's my bias, regardless. I say don't fight the trend, but that doesn't mean, if one is very skilled and advanced in their trading methodology, that they can't countertrend trade at times, as long as they are fully aware that that is what they are doing, and have a solid trade premise based on that. I just suggest that students of a trend following methodology consider trading with the trend until they are highly successful with that before they consider more advanced techniques. Successfully fly the plane, land it, and so on, before you try doing a barrel roll. Just my two cents.

Let's see if the bounce has started.

Originally posted by jimkane

Very, very, very key short-term area here.

Post like this has incredible value for my learning process. Thank you Jim.

I've got many questions how to act in few areas which are shown on the chart and I found are critical in early stage of trade, but I know you can't answer it on the forum. I have ideas and experiment with it and I'm very interested in opinion about it.

Originally posted by jimkane

Okay, here's a chart showing some of my posts, marked at the times, as best as I could do it, when I posted them. Also check out the post I made at 15:53:40. I couldn't find the room to squeeze that one on the chart. Everything I mentioned was based on the methodology. Look at some of the other posts, like the one about the lines coming in. Look at that EXP ABCD. Study the higher timeframes and see why I thought this may go up (other than it was Friday close and time to prep for Sunday night GLOBEX/Monday).

No matter how many cool areas lie below, or how much I want this to sell, 'they' want it up, and the defense of the GZ was a clear signal. Note my post before I started this sequence, about rigorously defending the LOD via the GZ. It wasn't my first mention of that. Clues. Technical factors. The methodology. What roofer likes to call 'the tools'. Now, do some work. Study what led up to what I have shown here.

Click image for original size

Chart created on QCharts, courtesy eSignal.