The Cable stopped at 1.5023 exactly at intersection of two key lines from weekly/daily timeframe,
That might be it for a couple of days, but I wouldn't exclude further move down to about 1.1460-70, so as to hit obvious SL, before some correction.

I'm looking at 1.5140 and 1.5220-40 levels as interim AOCs for bearish correction.

I do not follow ES in details now, but looking at price action only, I'm thinking that Jim is looking for a long entry.
Just my (WA) guess.

I closed my short and turned around long......got spxu exit half a penny off the high as it reached for my order I guess, and got upro 3¢ off the low of 64.08. I have had a line on my chart for a few days at 64.12 based on the fib work on spx, spy, and upro. It's tricky because spx and spy trade differently, and so they chart differently, and upro has slippage, and will often tag lower highs and lower lows than spy. Anyway....if they take out that low area they have very different intentions than I think they do, and this is the area that could send spx up into a test of the highs into oe week, and perhaps higher over the next few weeks. Let's see what they do with it...

And I was wrong.

Originally posted by MarcinO

I do not follow ES in details now, but looking at price action only, I'm thinking that Jim is looking for a long entry.

Just my (WA) guess.

Cable is backtesting key line at 1.5215.
A good place to restart downtrend.

trap?

retrace of intraday low to high of interest are iwm 1.27 at 115.21 and spy .886 at 205.72

and they pushed through that area....gap closed now on spx

A few countertrend opportunities were there, for sure, but today was a 'lean heavily on the short side' day. Recall how I recently posted something a change in the tenor, that I wanted to get it on the record? I could just see things had shifted, so I expected some downside. There is an area here, and a monster at around 25. I'd love to see a bounce here and then roll to 25. But, if it just implodes from here, I guess that's okay. Since I want a full-blown bear to develop, I'd prefer a well-corrected downtrend so it can keep going. We'll see.

Originally posted by MarcinO

And I was wrong.

Originally posted by MarcinO

I do not follow ES in details now, but looking at price action only, I'm thinking that Jim is looking for a long entry.

Just my (WA) guess.

I actually logged back in to make one more post. Look at how the ES finished in the little after futures Friday session! Another dump down, closing just off the new LOD, which was set at 2011.50! Sure, 'they' may come in like gangbusters on Sunday, but wow, is this weak. That change in tenor I got, it was no joke. I am so glad I posted that when I sensed it. I think the 1950's might be next.