Tomorrow might be some window dressing for month-end/quarter end. Then, it might be followed by the usual first-of-month inflows before the holiday. The SPY 30-min chart is shown below. The trend lines are provisional at the moment.
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| SPY cash - 30 min - Provisional Trend Lines |
If a higher high is made and the measurements remain acceptable then wave i might move to the high as a diagonal. There is an alternate yet of a second wave at red ii depending on whether window dressing appears tomorrow or not.
Have an excellent start to the evening.
TraderJoe
They are buying new windows altogether 💸
ReplyDeleteThis feels like wave iii, not an extension of wave i.
ReplyDeleteSPY 30-min: the provisional trend lines have been modified to a channel.
ReplyDeletehttps://www.tradingview.com/x/TZDeSdFZ/
The alt count is shown below the chart if a fourth wave (iv) wants to really extend in time. The is no reason to invoke it at this time. It is just 'plausible' so it is listed.
TJ
..and just fyi as a measurement, price has already met a 90% upward retrace on the daily chart, below.
Deletehttps://www.tradingview.com/x/9hUIrJJa/
TJ
Looks like some kind of triangle underway, and rare for price to not notch a new high when this close....
ReplyDeleteSPY - Daily - has a new daily high
ReplyDeletehttps://www.tradingview.com/x/9zz2UdS6/
TJ
SPY 15-min: line chart - just noting both RSI and EWO divergence at the high. And noting that the wave 2 = b is very short in time.
ReplyDeletehttps://www.tradingview.com/x/BkPXpx2A/
TJ
A new post is started for the next day.
ReplyDeleteTJ