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?

A monster sell, which I don't really see, would take this to that 54 area. The selling may be done in here already at 64.75...

C'mon, sellers.

This area here, at 64.50 now, is key. This decides it, in my opinion.

63.50-.75 is the lower boundary of this area (although the .447 is at 63.22), then it's 'C'mon, 54'.

'Seeing' that .447. They have to hold it here or next is the GZ...

C'mon, GZ...

It's hard for me to imagine those MRRD's won't come in here.

C'mon, at least give me the GZ before the close... GZ is at 58.25-59.50.

They'll come in...

Originally posted by jimkane

It's hard for me to imagine those MRRD's won't come in here.

Wow, they pop it hard and the sellers come right back in. The 'bulls' are really defending this area, but the bears aren't giving up easily. I want the bears to win this one, but I'm not sure they have even a small chance at that.

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