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."

Can't wait for this tightening 'coil' to give way.

Yeah, I figured that out, but why did they do that at 3? Because they knew many wouldn't know? Habit? Programs not updated? It can't be a coincidence...

Originally posted by MarcinO

Yes, they did final thrust up at 3, but the European open is at 4 EST this week. And the drop started at 4 for good.

Originally posted by jimkane

Marcin, you around? I thought the European open wasn't for an hour? It's acting like it opened just there.

I was going to suggest the same. Some of the algos were not updated in my opinion.

They tested downsloping priceflow so many times that it is ready to roll over in my opinion.
Or maybe it needs just a fakeout to the upside.

Yes, that's why I brought it up.

Originally posted by MarcinO

They tested downsloping priceflow so many times that it is ready to roll over in my opinion.
Or maybe it needs just a fakeout to the upside.

Right. I should have known that you stick to your bias concerning preferable direction for the ES.

This one hit the timing factor pretty much dead on, but it was tricky, because it fell just a sliver above the standard work, as you have shown. The 1-min price action was so distinctive, though, that was a big clue. The challenge I leave for the readers is to figure out why it wanted to turn at the high end of the area.

Originally posted by MarcinO

42-44.
Continuation of an uptrend or just a short term reaction?

Click image for original size

And if you look at the Euro or the Cable you can see that they are ready to likely to fall today or tomorrow morning (European open), too.
I will place some charts later on.