guess I'll start ;)

there is a sea of fibs in the area we touched on thursday....will they snap it back up for the real hit or was that the trigger in disguise?




.768 / 1.128 right there at the high

I'm thinking this may complete the bearish ABCD at 32.50-33.75 area, if this isn't done and in a 'W3' up now. I'm also watching the bearish 4PT right here, first, though.

It just looks like this last bigger leg down there needs more...

Originally posted by rat89

buy the retest?

Click image for original size

This is a tough read. We have the big GZ here, the 'magical' 20 point straight move (this caps it almost always, up or down), the 1.272 ext ret, some key Fib technique work, and all those lines rat showed. On the other hand, I have this major area at 1320ish, acting like a magnet. It's also the level of that key previous low.

One possibility is a bounce and roll down through the 1320ish area. That would allow it to do its thing here, and get positioned for another big move that continues the downtrend. Tough read, I give it 50/50 it moves lower today. If the bearish character hadn't taken over like it has I'd say 99%+ chance it moves up here in another stoo-pid MRRD ramp. But they may be in forsake mode right now.

Get ready for forsake mode 'retest'...

Short-term GZ here in the form of a bullish ABCD. This is it. Time for the bulls to step up and prove themselves.

There it is! New LOD. But let's see if it's just a little stop sweep or not.

Swoooooooooooooooosh. Now let's see if that's the climax there, or is this headed for my 1320ish area.

This 24.50 is a critical area on the way to 1320ish.

Tough read. That 23.75 could be it for today...

funny place to stop

nope

Originally posted by jimkane

Thanks, rat, I thought everyone just thought I was nuts.