Starting it off. I'll quote my last post from last week.
"Anyway, the ES did something it usually doesn't do, and that's make any kind of move in the Friday after close mini session. This time it kept moving up, set a new high for the entire move, and closed almost at the high tick. It is now fully at the monster weekly backtest line. If this is a bear market, it should roll off this, and roll hard. There is a key area above, built from the immediate price action, and that comes in at 76-87, with a grouping of key Fibs at 94.00-95.50. I could see it hitting the lower end of the area, maybe a little above the lower end, and still be respecting the key TL backtest, but not much more.
Still, does it even seem remotely feasible that this is going to dump to significant new lows from here? The only hope I see at all is that not only do all pundits and analysts say no, it's completely and utterly an impossibility, most readers in here, I believe, are also saying no out loud right now. And that's not meant as a slight to the readers in here, who are among the most highly informed out there, I feel, it's more meant to imply just how good they are at sucking people in. We'll see. I don't really care, from a trading standpoint, what these maniacs do with it. So, that's what I'm working with as we reach arguably the most critical juncture perhaps in trading history."
JI
jimkane
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Okay, watch this spot, this is where they'd likely panic and pop it up from.
JI
jimkane
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They want to do the best they can to make sure no one is on board when this dumps. That's my opinion.
JI
jimkane
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Okay, make sure 'Seats and Tray Tables are in their Upright and Locked Positions'. It's time for the ride to get a little 'bumpy'.
JI
jimkane
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Now, I'm not really seeing it, but if this popped up it could form a big bearish ABCD with this ABCD here in the BC leg. But, I'm not thinking it will likely go up much more in here. We'll see, though.
JI
jimkane
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Okay, it does look like the area of that bigger ABCD is now on the table. In fact, it looks like downside may be completely done.
JI
jimkane
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I'll watch 76-78, which is the sweep area and the ABCD area, in case.