I'll start with Friday's HOD area indicated by Jim.



The first support areas for me are 53.75 and much stronger 49-50.

and here we are....they served it up on a silver platter.....crash from here or reverse?? note the fibs, the lines.....$spx at .786 of larger swing and .886 of shorter swing.....

abcd to .786

Time to reread the reread on my posts. LOD 18.00. Hmmmm, not bad for how many days in advance? ES only up 37.50 points by my data in half a session off that area. Okay, so I'm on this roll here... And now it sits right at the super-key area right in here. I am not willing to short it, though, at this moment. On one hand, everyone is convinced the correction is tested and is over, with a move this strong. On the other hand, I suspect two things. One, this most likely will go higher to cement that opinion, and two, we are most likely in a bear market. All this behavior, which is leading to some of the best trading potential I have ever seen in my entire career, is characteristic of a bear market. I've fully been through two of them now, and I recognize this. Just my two cents, that's it.

Originally posted by jimkane

Reread what I said about my view on the long and short side of things.

Originally posted by jimkane

...Here are my areas (center of areas):

ABCD: 41.50-42.75

28.75-30.00

16.25-17.50

There is some good stuff here, but the ABCD level has some great lines, too. But, for me, I'm only looking for bounce areas to short. I'm not looking long side at all right now. That means either a) I'll get a vibe things have changed and I'll start looking long, and we know how fast that can happen for me, or b) I'll get wrong-footed as I look to push it until it breaks i.e. lean on the short side until it proves me wrong, which means getting wrong-footed at some point, maybe the very next setup. The main reason I am leaning so much to the short side is that everyone is saying this is a very buyable dip and higher prices are all but guaranteed. We'll see...

That last push into the area makes it 42.50 off the low by my data.

You'd think, being machines and all, they'd like an even 50 for the day off the low.

targets basically all hit, setting up a bear abcd

ha ha ha ha ha! Thanks jim ;)