A daily diagonal in GOLD may be done or near done. Right now, a Fibonacci relationship of C = 2 x A can be seen.
Divergence with the Elliott Wave Oscillator (EWO or AO) exists particularly at the new high. Further, price is above the daily Bollinger Band, with the typical ~5% chance of staying above the band.
The ES depends a little bit on the open and possible inflows, but the wave ii count, up, is getting more and more probable in that market.
Reminder: there is economic data until 10 AM ET.
Have an excellent start to the new year!
TraderJoe
Possible Diagonal forming in SPY ?
ReplyDeletehttps://www.tradingview.com/chart/VxmR5Lbh/?symbol=SP%3ASPX
Mark, TradingView will only let others view the chart if you publish it with the camera icon,and select "Copy Link to the Chart Image". Like below.
Deletehttps://www.tradingview.com/x/ggbF7csD/
Notice how much shorter in length the published URL's are. Bottom line: we can't view your link.
TJ
Gotcha TJ. Sorry about that. Much appreciated.
DeleteTD Sequential also printing a short signal on the gold weekly chart.
ReplyDeleteMy ES thoughts.
ReplyDeletehttps://imgur.com/eiUedve
Also watching potential expanding diagonal down in gold from the morning high.
DeleteThe ES retrace is pretty shallow so thinking we could get an x down to trap some bears for a bigger retrace.
Deletemy thinking too
DeleteHappy new year TJ,
ReplyDeleteJust saw a small gap in SPX between 3955-65. Can wave ii target that?
Maybe the rally New Year's Eve and this morning to 10 am was a throw-over out of the triangle? And we soon break down? With AAPL, NVDA and TSLA leading the way?
ReplyDeleteIf gold diagonal does not work (1900 is invalidation) I think the first wave may hold some clues.
ReplyDeleteES 30-min: on the intraday wave-counting-screen, the last four down (red) fractals have already been exceeded lower. Chart runs about 10 min behind.
ReplyDeletehttps://www.tradingview.com/x/p75U0112/
TJ
ES 30-min: here is the chart update with the outside range candle lower (at present; candle is still open). The outside candle is an economic news candle.
Deletehttps://www.tradingview.com/x/8C6fVqi8/
TJ
ES - 2hr Could we be forming a potential triple zigzag?
ReplyDeletehttps://www.tradingview.com/x/T7YoOGXN/
My guess is we are now in c of b to the lower Bollinger band by Friday.
DeleteSPY 1-Hr (before the close): One triangle is currently already 'possible'. One larger triangle, in red, could form, and 'might' go to the Payroll Report on Friday. The waves are intractable, and the EMA-34 is relatively flat.
ReplyDeletehttps://www.tradingview.com/x/lscGhfnS/
The multiple zigzag option was always a possibility, and still has not been ruled out. That would have wave v on the low of 12/22.
TJ
Thanks for the update TJ, SPY currently sitting on the Daily Pivot.
ReplyDeleteES new daily low (over yesterday's low). TJ.
ReplyDeleteA new post is started for the next day.
ReplyDeleteTJ.