The Pound may need one more move up to 1.5170-80 before a larger move down.


After that a further move up cannot be excluded to 1.5270 - 1.53.

P.S. If they kill it with another leg down I will be very okay with that.

Yes, I was going to mention that, but I just didn't have the energy. SPY looks ready here to bounce, IWM looks ready to crater...

Originally posted by rat89

yes it is....I've been thinking that for several days. Spy however has an abcd at .382 at the low today. Always interesting....

Originally posted by jimkane

Nice charts, rat. That IWM is really calling at 108ish, isn't it?

Another leg down coming in the ES?

And there's the new LOD.

There's a lot of stuff coming together just under that previous big swing-low at 1998.50, and that would make a big flat ABCD. But I think for now, all they wanted was a shakeout stop run here. So, I'm watching for a snap pop.

Sorry, the above post was basis Dec, where my most liquid chartwork was done. The swing-low on basis Mar '16 is 91.75, so go from there.

I think this is could flush out hard in here.

It's that exact scenario where 'they' need to come in now or swooooooooooooooooooooooooooooooooooooooosh.

This is soooooooooooooooooooo close to a big swoooooooooooooooooooooosh in here. I keep expected them, but they aren't showing so far.