Just getting ready... Champing at the bit...

There's a line here at about 30.75, so I'm going to watch that just to see if they 'see' it or not. That's three ticks below the previous low, so it is worth watching.

But, given we just hit that previous low to the tick, I am ready for a tick game any time in here, in case. Just staying on my toes.

They are making it look like the bottom is in for today and it's headed up, starting with this little downsloping TL here. What does this mean?

So, is this just a trap fake above the TL, now that all the new longs are trapped and shorts have covered, does it drop now to take out that low?

Here's the backtest of the TL.

I'm ready for those new lows.

It never ceases to amaze, does it?

Any early day Aerosmith fans out there?

"It's the same old story, same old story, same old song and dance, my friend..."

Okay, for futile grins, let's watch the little GZ here at several natural set retest lines. Then we'll get on to what it is really here to do.

And there's the new low. The same old game. They make it look strong, they take the TL out, they set the trap, they spring the trap. Exactly as I expected.

Originally posted by jimkane

So, is this just a trap fake above the TL, now that all the new longs are trapped and shorts have covered, does it drop now to take out that low?

Maybe this is very close (I think it might be), and maybe it's not even in the ballpark. One thing I do think is if this isn't how it unfolds, it will be some other scenario equally vile. Sorry. I can't believe my 'golden years' as I near 'retirement' are going to be spent like this...

http://www.zerohedge.com/news/2013-08-31/guest-post-what-expect-during-next-stage-collapse