Using the SPY 30-min cash chart, shown below, there are no changes to the count at this time. There are no untoward overlaps to have to explain and price still closed below the moving averages. The count shown is the one that best agrees with the Elliott Wave Oscillator, and the channel.
In the ES futures, it is possible the down wave is an expanding diagonal with a possible further down leg to go.
An alternate has been added in red if the current up wave makes a higher high before it makes a lower low. It backs up the count one peak to the left at the high, wave c of (y) of (ii).
Wave micro ((4)) could become a triangle, but does not have to.
Have an excellent start to the evening.
TraderJoe
in the futures, some EW analysts are saying we are still in an X wave as part of a complex (B) potentially ending at 4048 before making new lows.
ReplyDeleteXLY/XLP -
ReplyDeletehttps://www.mediafire.com/view/fyt872qvy4awmb8/xlyxlp7-13.PNG/file
Looks to me like classic nested 1,2s. Price action tomorrow will leave no doubt methinks.
ReplyDeleteCopper - remember that rally?
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_1613e008009eca2e536dc3db6a980453.png
SPY 30-min: as of the open. It looks like we are getting the fifth wave micro ((5)),
ReplyDeletelower. May be an exhaustion gap with a second wave up to follow. Nothing says ((5)) is over yet.
https://www.tradingview.com/x/BLOpjVnn/
TJ
SPY 30-min: has undercut the lowest low of the prior (x) wave. Down wave, when it ends, is probably sub-minuet wave i of minute ((iii)), as shown.
ReplyDeletehttps://www.tradingview.com/x/SEIN6zmK/
TJ
DXY (1x3) - update to April post (years old target hit today) -
ReplyDeletehttps://www.mediafire.com/view/yxh238s07h2knep/DXYtargets.PNG/file
The smaller 0.25 box 60min chart had the 109 target as well (bullish catapult).
Deletehttps://tvc-invdn-com.investing.com/data/tvc_f74d34f35af2598c4c2aa32eb12bde06.png
there is a flat from 6/29 or so completing today, next move up is either 3/C or lower degree 2. equally likely ?
ReplyDeleteflat from 6/29? don't think so: violates degree labeling. Lower degree ii? Has no degree violation at this time. TJ.
Deletethanks
DeleteSPY hrly -perhaps
ReplyDeletehttps://www.mediafire.com/view/07p65l6yzqfskoc/SPYhrly....PNG/file
I am trading this way, but I'm hedging here. AAPL formation bothers me
Delete.382 from the top of july 8th reached on spy. I don't like this price action as a bull.
ReplyDeleteA new post is started for the next day.
ReplyDeleteTJ