Below we show what is thought (at this time) to be the most likely count on the SPY cash index, hourly.
 |
| SPY Cash - Hourly - Into (c) Wave? |
Interestingly, neither an employment report pop (tomorrow morning), or a drop from the same affects the larger picture. We said several days ago the 3 AUG bottom 'could be' the bottom of the (b) wave. From today's price action, it appears to be. So, with the new high, we are counting upward until we can no longer.
The alternate red (b) wave would have a count of micro ((W))-((X))-((Y))-((X))-((Z)) should the market decide to do that. Right now, there is no suggestion that is occurring, until or unless the low of wave ii is taken out lower before five waves i-v complete to the upside.
Have an excellent start to the evening.
TraderJoe
Looking for 4445 SPX RS 4438
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteBoth of your posts were approved. Please refresh your browser page.
DeleteTJ
NDX (mthly) - From a momentum perspective - [if interested]
ReplyDeletehttps://www.mediafire.com/view/i2dzjbv7iz7zupp/NDXm.PNG/file
SPX (dly) - From a momentum perspective - [if interested]
ReplyDeletehttps://www.mediafire.com/view/im0zaeq5me95emy/SPXd.PNG/file
NDX/SPX (mthly) - A sample size of 1 -
ReplyDeletehttps://www.mediafire.com/view/qrfhyx9rjj57hcq/SampleSize1.PNG/file
Good morning all. The futures might continue the cash count, as follows. It will be needed to observe the cash open, as well. But, so far, so good.
ReplyDeletehttps://www.tradingview.com/x/7fpBvmRQ/
TJ
..the peak of the EWO can be for (3) of ((3)).
DeleteTJ
..here it what it looks like at the moment. Might be possible to get an expanded flat or a 'running triangle' to for wave ((4)) alternate with wave ((2)).
Deletehttps://www.tradingview.com/x/inpKbXgF/
TJ
ES 30-min .. red dragonfly doji candle. As with all candle patterns it requires confirming or negating candles.
DeleteTJ
ES 30-min; no confirmation of dragonfly doji - might be a sign of a running triangle.
DeleteTJ
Hi TJ,
ReplyDeleteCan you repost the post link for $8 trillion funds outside US in markets. It was in one your posts.
In all this the SPX market has doubled from March 2020.(2191 to 4400).
Isn't that fast.
Here you go:
Deletehttps://studyofcycles.blogspot.com/2021/07/dow-higher-high.html
TJ
ES 5-min: here is one form of triangle. OR it is possible to bust down lower to the 78.6% level or slightly beyond.
ReplyDeletehttps://invst.ly/vo2ex
TJ
Last two hrly up candles showing selling imbalance.
ReplyDeleteThree indicators as flat as a pancake: 1) 34-EMA, 2) EWO, 3) RSI. Try to learn this characteristic signature of a triangle.
ReplyDeletehttps://www.tradingview.com/x/HbAXnIXV/
As stated before, the triangle can expand once if it wants.
TJ
"smaller triange" now 'busting up' for the noon news on Wall $treet.
Deletehttps://www.tradingview.com/x/LSlsNnCz/
ReplyDeleteTQQQ Daily chart
Looks like a neg. RD hidden div. trying to set up. [Possible] 2B top as well.
DeleteUpside target for triangle, barring truncation, appears to be about 4460 - 4470...
ReplyDeleteHrly update -
ReplyDeletehttps://www.mediafire.com/view/gn0a8tkn0g4a7b5/hrlyupdate.PNG/file
The (E) wave of the 'smaller triangle' just broke lower before making a new all time high. So, either a larger triangle or a flat at this point.
ReplyDeleteTJ