Here are the ES 2-Hr futures and the best count that fits with degree labeling that I can see. There are currently about 97 candles on the chart.
Wave i and ii are visible on the EWO. Wave iii is the extension wave. Wave iv should be given lots of breathing room as tomorrow is the report out from the Federal Reserve Open Market Committee at about 14:00 ET, followed by the press conference.
Have a good start to the evening.
TraderJoe
Nice map into FOMC at 2pm, unless we retrace that overnight and gap up and fail in the morning. Either way it clears things up, thank you
ReplyDeleteBPIs - 6/14 (click to sharpen)
ReplyDeletehttps://www.mediafire.com/view/qv9qx5ckeqpu0am/BPIs6-14.PNG/file
ES (30m/dly) - current (click to sharpen)
ReplyDeletehttps://www.mediafire.com/view/dm2zto15gatipz5/ES30mdly.PNG/file
BTC(hrly)ES(30m) - early looks
ReplyDeletehttps://www.mediafire.com/view/iwt4zn8b0kzup56/btces.PNG/file
ES (5x3) - current
Deletehttps://tvc-invdn-com.investing.com/data/tvc_6f116f76c4ced3dc063f1372a51c6766.png
If this wave is complete and we just finished A, B could come after 2pm and C into the close on Friday would be lovely. https://tvc-invdn-com.investing.com/data/tvc_f21443a21c23a6f88d26be026cae166c.png
ReplyDeleteBTC (hrly) A possible path - strictly conjecture at this point.
ReplyDeletehttps://www.mediafire.com/view/0kk1ehazs8azexf/conjecture.PNG/file
ES 30-min: here is the intraday screen with updated daily pivots and local fractals. So far no down (red) fractals have been taken out lower all night and into the open.
ReplyDeletehttps://www.tradingview.com/x/b0C1712R/
Sometimes, during whippy conditions a down (red) fractal or two is take out as a 'trap' fractal.
TJ
is it true that each fractal represents a wave of some degree?
Delete..first down (red) fractal back exceeded lower. Chart is behind. Looks like people are beginning to 'bail' for the FED report out due at the top of the next hour.
DeleteTJ
WTI (3x1) - Close
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_2de4606cc77169b98879ba777aad6620.png
Have now triggered DBBO, leaving bull trap at prior peak.
DeleteES (5x3) - bear trap
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_f53c36585f8e13f0767bb81d130d18c9.png
Volatility could see a broadening type pattern, with back to back traps.
Deletejust fyi - FED goes 0.75% instead of 0.5%; was getting widely expected in last couple of days. TJ.
ReplyDeleteMarket is way ahead of the Fed. The Fed is still trying to catch up. https://stockcharts.com/h-sc/ui?s=%24UST3M&p=D&yr=1&mn=0&dy=0&id=p43084542064&a=1187066227
ReplyDeleteES (30m) - reg div (hidden) below - looks volatility based
ReplyDeletehttps://www.mediafire.com/view/zuxishheakbtb6z/ES30mrdh.PNG/file
ES (5x3) Volatility on display
Deletehttps://tvc-invdn-com.investing.com/data/tvc_019698f0c8a4f136e7d8b1a9ecc56d21.png
Note that the bull trap peak occurred at the grey vertical level, not to imply a causality, but keeping an eye on the upward greys is usually worthwhile.
DeleteA 100% low pole, triggering DTBO has left yet another bear trap at prior low.
DeleteSPY 15-min: wave ((3)) is now longer than ((1)).
ReplyDeletehttps://www.tradingview.com/x/9LUYAU4d/
TJ
if abc=123 why do you sometimes count 123 and other times abc? should i assume that 123 indicates a change in degree of wave you are counting from prior wave?
DeleteNo. In the 'heat of battle' I usually start off counting 1,2,3 until I see something weird - like today - where a 1.618 was not obtained when it easily could have been with the >62% retracement. Then, when something doesn't measure right or has unexplained overlaps I opt for the flexibility of both labels in my mind. See the outcome, below, and in tomorrow's post which is up already. TJ.
DeleteYou may not see this but thanks
DeleteES (5x3) - has the "look"
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_b97236adfb53902a863609c5180375dd.png
the look of what? long term bottom?
DeletePotential inverted H&S, slightly angled neckline. At any rate, we have a higher low and a higher high so far.
DeleteES (5x3) Updated observations -
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_8e047b7de03bfc07b7454b050c21c92d.png
Very little buying strength into the close: this count may be correct or not. It's the best I can find with the overlaps which do not have the right measurements for diagonals.
ReplyDeletehttps://www.tradingview.com/x/tsuur7FL/
Count only calls for watching gap direction tomorrow.
TJ
vix tested and bounced away from 18ma, many other near term MA's at 27.50 area as well.
ReplyDelete