On the way to 40s area, there is also substantial resistance around 2020.
It includes two sublevels: 22-24 and 13-14, below which ES finished Friday.

I didn't even bother mentioning the idea they'd bring the ES in for better prices, since it totally didn't look like it was in that mode at all while waiting on the Fed. But that's what they did. Unless they are going to sell it down into the meeting and then explode it on the announcement. But, alas, a break below the swing-low at 95.25 has almost literally nothing below it until new lows for the entire bear. The same held true when it stopped without going below the swing-low at 57.25. We have a similar situation here. It's lower degree, so a little less of a threat, but they are surely aware of this. Understand that if it stays up here and does wild swings on the announcement, a fast stab below won't necessarily cause this cascade I am talking about since that kind of action seems to have a mind of its own and all bets are off with that. But regular action that goes below could be an issue for 'them'. Just some thoughts.

I'm thinking long here may be the play, but I want to see what it does on the open. Just getting ready in case they jackrabbit start it.

And they're off!

Wow, am I glad I was ready.

ES over the obvious 5-min downsloping TL, so let's see if that's all they wanted, or are they truly in frenzy mode.

I'm sorry, I was not very clear on this. I was trying to type fast so I could be done when it opened. I would have to be positioned already, but that wasn't clear unless one used common sense and realized if I was expecting a jackrabbit start possibility I'd have to be positioned in advance, since many of those just explode. What I was trying to say is I wasn't completely sure long was the play, so I wanted to see what it did on the open to further assess if that was their intention. I think when I said 'just getting ready' it made it sound more like I was getting ready for a long play, when I meant the approach was getting ready for making a fast assessment on a position, especially if it exploded or dumped hard right out of the hole. It's not easy doing blow by blow live and trying to do your own thing at the same time. Just try it some time.

Originally posted by jimkane

I'm thinking long here may be the play, but I want to see what it does on the open. Just getting ready in case they jackrabbit start it.

Thanks for details, Jim.

Originally posted by jimkane

I'm sorry, I was not very clear on this. I was trying to type fast so I could be done when it opened. I would have to be positioned already, but that wasn't clear unless one used common sense and realized if I was expecting a jackrabbit start possibility I'd have to be positioned in advance, since many of those just explode. What I was trying to say is I wasn't completely sure long was the play, so I wanted to see what it did on the open to further assess if that was their intention. I think when I said 'just getting ready' it made it sound more like I was getting ready for a long play, when I meant the approach was getting ready for making a fast assessment on a position, especially if it exploded or dumped hard right out of the hole. It's not easy doing blow by blow live and trying to do your own thing at the same time. Just try it some time.

Originally posted by jimkane

I'm thinking long here may be the play, but I want to see what it does on the open. Just getting ready in case they jackrabbit start it.

Last two overhead TL's coming in here.

My DB play is looking very nice right now.

2008 is a nice backtest level.

add modified schiff set - solo and on prior chart in aqua