Using the ES 2-Hr chart, there can be little doubt of the expanding-diagonal-type structure off of the bottom. We noted this potential structure in the past.
 |
| ES Futures - 2 Hr - Likely Expanding Pattern |
There is a gap above that could fill. The diagonal itself could be ending or leading. That is still the part that raises doubt. If it is a 'leading' diagonal, then it could be an "(a)" wave, up. IFF it is an ending diagonal then it can count as the w-x-y-x-z of minute ((ii)) in its entirety. We know the degree has turned up, but other than that, degree labeling is not of great assist at this time.
Have a good start to your day.
TraderJoe
Thanks, 6-26 is a fib turn date. So today or Monday could be a temporary top.
ReplyDeletewelcome. TJ.
DeleteRBOB (0.025x3) - update [if interested]
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_95d131a3326ebc7156d6523a8873105b.png
The VIX is hanging in there so far. It has a tendency to trade lower on fridays and trade up on Mondays at the open.
ReplyDeleteSPY (65m) - Like the song says, "let's work together" - (click to sharpen)
ReplyDeletehttps://www.mediafire.com/view/hu0zs7binhtndze/SPY65RMs.PNG/file
ES (5x3) update -
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_e774411f9c7d4fcdb221a3750c2f7d50.png
Nice round number 3900 hit.
DeleteMissed our 3920 targets by a "tick".
DeleteES gap @3,906.50 closed. TJ.
ReplyDeleteOne remains... 😀
DeleteNot in ES.. Right?
DeleteCorrect!
DeleteThere is a nested upward count still in 3rd wave off lows. Agree?
ReplyDeleteNothing indicates a real turn, yet. Today marked a 50% retrace. Could go to 62% or slightly beyond and remain within bounds for minute ((ii)). TJ.
DeleteES - Some interesting (?) confluence math to come tomorrow.
ReplyDeleteOIH - an aside - from a pattern perspective
ReplyDeletehttps://www.mediafire.com/view/z85njnj3jf8rqrr/OIHdragon.PNG/file
TSLA (2day) - observations
ReplyDeletehttps://www.mediafire.com/view/w4qf1nhe8p0xzbn/TSLAobservations.PNG/file
UNG (wkly) Pattern features as supplemental info -
ReplyDeletehttps://www.mediafire.com/view/x5qei90n4s5kq8y/UNGdrgn.PNG/file
BTC (1000x3) - Broad overview [if interested]
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_5c059ab8c2c38d7216e857d5e00e72f2.png
All index BPIs are in Bull Alert status.
ReplyDelete