## Sunday, August 25, 2019

### Weekend Video - Steps to Confirming an Impulse Wave

Here is a weekend video report than I hope some of you (particularly the less experienced at wave counting) will find useful. Again, to be respectful of your time and mine, the video has been limited to about four (4) minutes.

I might also note that a gap down on Sunday that back-fills on early Monday might be part of the b:3 wave of a flat. Let's see how it goes.

Thanks for watching and have a very good rest of the weekend.

1. ET - if this plays out - (i) of ((iii)) ends Tuesday-ish, time-proportionate (ii) ends about Labor Day, then the big (iii) down.

Does (iii) have to be shorter than ((i))?

1. Yes, (iii) 'should' be shorter than ((i)).

2. With the new ES low, I can see that (i) could be done.

3. Thanks Joe - I qualify as a less experienced observer and I appreciate the explanation. Thank you!

4. ES - either it was only 3 waves down, or you count wave 0 from 2am on Aug 23. Rejected at 62% so far

1. Trying to hold the 5 min channel.

5. As the video states, we're working through iv in SPX, but any thoughts on whether SPX futures (ES) is also doing the same or is it ahead and working on a larger degree wave 2 retrace? (which may also be finished)

1. IF 2,880 ES holds, then consider a triangle fourth in ES, versus either a triangle or flat in cash?

2. ya good point, I was thinking that the proportions in SPX vs ES 4th waves would look weird if they're on the same wavelength (count). But the ES triangle has plenty of time in the night session to develop while the Cash can look different and still be on same count.

6. 5th rejection at the upper trend line starting from 2934 ES. This gonna hold?

7. Joe -

General degree related question for you: So far, this is what we know about ES:

Wave 1: 3027 to 2776
Wave 2: finished at 2936
Current Wave: Working on wave i of 3

If I got my facts above wrong the my question is moot. But if the they're right, my question then is..

If wave i of 3 finishes a bit lower (or more) than overnight lows in ES, then if wave iii of 3 happens to be a 1.618 extension of wave i of 3, it would result in a wave iii being longer than wave 1.

Is that a degree violation? I would think this occurs fairly frequently particularly when a wave 3 extends out to 262 or 424 extension. Sure iii of 3 then would be longer than 1.

Thanks

8. As best I can tell in cash, there are three-waves up. The EWO is now above the zero line, the channel has been attacked, and price has risen above the declining EMA-34.

https://invst.ly/bwruy

TJ

1. Here's where things stand at this time: price is back below the EMA-34, the EWO has red histogram bars, and price is with the wave iii x 50% level. So, a flat or triangle remains on the table. A wave iv 'should' take more time in an impulse that wave ii.

https://invst.ly/bwsyk

TJ

9. ES 5 minute triangle?

1. Trouble is this now looks like an impulse from 2810.25

10. Even though nothing has technically busted in cash; the wave has lost quite a bit of it's proportion and "right look". I'll suggest the better alternate in the next post. TJ suggested it earlier.

11. I see 3 possible propositions for a bear count:
1. i down and now in ii up.
2. i, ii, iii down and now in iv up as part of an expanding diagonal.
2. i, ii, iii down and now in a ivth wave triangle.

12. A new post has been started for the next day.