Starting it off.

I wouldn't want to bet against a 42.25 point drop, but look at that SL here. So, watch the bearish ABCD right now, because it may tell us a bigger bounce is coming (or not).

I need to look up the post from a week or two ago. Recall I mentioned my key area, if it started down, was around 1920. I'll look for the post later.

I was going to quote the bearish ABCD post I made after this, explaining how this area was really critical, and after the European open it failed to follow through, and that might be it, and be ready. And when I went to look for it, it wasn't there. All my chart work was exactly as I left it, but apparently I didn't do the posts I thought??? So the last I posted was the countertrend pop I was looking at. It makes it look like all this downside took me by surprise. I guess I was more tired than I realized...

Originally posted by jimkane

Okay, the long is looking good now, it was able to break out from that area with ease. Now I watch to see if that's a snap trap fake out, or if it's really going to go.

The ES 'sees' the ABCD so far. But now it's back to where it should get picked up. I'm only expecting chop, and maybe a nominal new LOD. But that SL should really create a bounce.

And another leg. Bearish Elliott abcde here, or the start of something? I'm hoping something.

Okay, timing factor-wise the ES should be thinking about coming out of this range. Looks like a good time for some sweeps.

The ES is gearing up for those sweeps...

Yeah, that timing factor, it actually isn't hitting until now. It's always a tough read to see when it will happen in the dull after-rmarket before the European open. But it should be ready now. Still, we've seen it ignore this and wait until near the open. Technically, though, it's ready.

Pushed it over the top, no real stops. Now we see, does it grind up into the open, or sweep them the other way...

The generals are leading, and the troops aren't following. This, usually, is a very bad thing.

http://www.zerohedge.com/news/2014-10-03/market-breadth-has-collapsed-around-world