Okay, I'm still trying to get my footing here with this new format. I'm not sure where I'm going yet. We'll see...

77.25, within two ticks, and that's not the full boundaries of the area. With a 1-min volume spike. Is that it? This thing sure looks like a lot more selling is coming, so I'm thinking small bounce. It might be very small.

Originally posted by jimkane

On the downside (if it doesn't just do some quicky repeated stop run games and then bounce) I'm looking at 74.25-76.75 and then around 68.25. The best line, though, has me closer to as low as 64.50, depending on when it gets there. I'd really like a bounce right off this very spot, though...

The downside, short-term, is a bit confusing to me right now, as far as things coming together. I will keep playing around, and if I get more clarity I will post it. Notice how last night it was very weak, and didn't even bounce to my levels, as I said I suspected.

We may see my next level in minutes...

Okay, they set a small higher low and are now 'seeing' this level better. Watch the tiny bearish ABCD for the first clue.

A few nice upside bounce levels are:

83.00-.50

85.00-.50 (.447 at 86.30)

This is assuming it can get over this tough 80.75-81.75 level...

We may not see it, but that upper level is just a sweet one... And, a bounce in here could imply we need to jump up a degree or two and do a bigger bounce.

My guess is this is debating on rolling over here and doing the bigger bounce later, off a more flushed down level. This little spot here may be a key decision spot... Just a thought.

I'd prefer a more slow, steady move, so I'd like the bounce up more now.

Crude selling... Ruh-roh.

It does seem as though the 'bear' market top was put in there. Recall I said right when it was being put in that I had to consider that was indeed the end of the 'bulls#%&' market.

Notice how, when something hits a PTA it sometimes reverses and takes right off, even does a 'V spike', but many times is does this heinous chop in a horrible 'W2' shakeout first. Now look at this since the top. Look like a 3-min chart at times? If so, we are now done with the shakeout, just in time for the big leg down and the 'fiscal cliff' nonsense.

I have a monster area at the mid-1100's (I can elaborate later if this looks to be happening). I think they would want to probe the '11 and even '10 lows, though, and if they did that, probe that even number 1,000 level. My guess is, if this really does go full bear, we may see just under 1,000 for the low. That would be a just over 30% drop for the S&P, a nice bear market amount.

Timing-wise this could happen by Oct of next year and be quite a nice trend. But, it could flush and do it much faster, too. The weekly chart is extremely fascinating to me, with what it shows as far as line possibilities...

And the ES finally took out that level, and can now shoot for my better levels. I hope it 'jumps degree' and takes out the higher level and starts a real bounce, the one I was watchful for last night, but suspected it wouldn't have the juice yet.

CDE got hit a little bit this week.