The best area I have now is from let's say 1370-80, coming together this week. For a pattern the size of this, that is as narrow as I can get it. It then becomes about triggers and price action. But, recall my quote about trading bearish 'W2's' unless the start of 'W1' is clearly a PTA or end of the bull market ([url="http://www.mypivots.com/board/topic/4568/5/cant-miss-quotes#96489"/]click here for quote[/url]).

Although I'd love that March high to have been the end of the bull market, or even the start of a bigger correction, that is not a given at this point, and pretty much consensus is new bull market highs are coming, and coming soon. Normally I'd say from a contrarian standpoint that implies it will be headed right down, but those bulls sure seem to have it nailed dead on right now, so probably they'll be right about new bull market highs. After all, they are spot on for this move, right?

Is this it? Is it making its move? 70-80 by morning? 95 after that? Or will it fail this 'retest' (Hah, too funny of a thought)?

Anyone notice this did do a bigger correction, in the form of an EXP ABCD, with both points within less than one tick of the 1.272's? But, it is struggling after the initial reaction, in an area where a rollover could be a problem for it. Then, again, if it couldn't sell more than this off a report as bad as that 10 AM report, what does that say? But if it pulls back a bit in here it had better start up aggressively, or any more upside is going to come into doubt in my mind.

Originally posted by jimkane

Is that 53.25 the dip I was talking about? It might be. I'd like to see a lot bigger pullback, though.

Well, it launched like a rocketship off that ABCD there. Is that the start of the push to 70-80? It sure acts like it. Crude is following it nearly tick for tick.

Another ABCD. It shouldn't need this many patterns to get going, but eventually one has to figure it could really get going, if it keeps getting all these chances, and producing reactions off them. My preference, as always, is that it goes down.

It wants 64, I think...

58.50 here is the key line and area for the 'W2', but seriously, is this going to go down? Too funny.

It should burst for 64 in here now, I think.

Once it gets to 64 then it's clear sailing to 70-80, I think. Maybe in the overnight? Tomorrow is pre-holiday trading, too. ES closes at 1:15 PM Eastern.

Okay, watch the after-cash...

Okay, it looks like it will have to wait for the aftermarket.

Darn, Sunday at 3 PM is a long ways away...