Jim must be very, very happy, because the futures opened... down. Just three points now from the low for the entire move down. Can't imagine they won't try for that. It should bring on a nice flush down, but nowadays they may defend it, or guard against a big stop run, who knows. I still think they may gun this up at some point, but maybe not. I just know I'm not marrying any positions the way they like to come in.

Crude close to a 90 handle!

This is a big-time battleground right here and now for the ES. Big decision, much bigger than you'll see intraday, are going to be made right here, right at this time, in my opinion.

GLOBEX low next, then my area.

GLOBEX low, to the tick, draws the bounce. Now we see. Nothing but air underneath until my level, in my opinion.

Get ready...

Now, was that enough of a shake below the GLOBEX low that they may gun it up for a bit now? I'm not sure yet, but it very well may be.

Notice, too, that it is an ABCD off today's HOD. This 'breaks the rules' because the ABCD is at a new low, making it an ABCD in the direction of the trend, not set up as a correction, but when the new low is nominal and a likely stop run, I have seen this play out well. It breaks the Elliott rule of 'W2' can't trade below the low of 'W1', but I have seen that over and over.

Really what I am looking at is the layout and what I have seen such layouts do from a practical trading standpoint, and what they are looking at are their rules and the 'proper count'. So, watch what this does, as they may start a gun up to prep for an up Sunday night. Or, they may kill it on this little bounce and head for 80-85. We shall see.

Down looks most likely, but I don't trust them, they've trained me so well.

A little 'retest' and shakeout within one tick of the low, and up, up, and away. Watch this 98.50 closely to see what they do with it. It's an important 'test' spot.

Interesting reaction and follow through to 98.50, huh?

Hey, I just realized I crossed 15,000 posts a few posts back. Wow.