ES 1-Hr: wave counters may want to move out to this time frame, and place a 'wave-counting-stop' at the prior high. Look for fractal breaks higher or lower. IF price starts breaking fractals lower look for the larger 4-hr count; possibly the expanding triangle or a contracting one. Can't be more clear on that until the prior lows at 4,552 are broken or not.
ES 1-Hr: the first four down (red) fractals back have been broken lower. Just be careful as (if we are in a triangle or other fourth wave) they can get whippy, especially on news.
ES 1-Hr: One might try moving the wave-counting -stop down to the overnight high. Then, since the upward retrace was 78 - 82%, this is one of the two triangle options that could be tried. This is the contracting triangle option to try to get over to the lower 4-Hr parallel channel.
https://www.tradingview.com/x/pVMOzoss/
The other option is the expanding triangle option, but it requires fully taking out the 4,554 low. We're not close yet.
SPY 5-min: watch the measurements for a potential diagonal or a nested 1-2-i-ii count. ('Feels like' a diagonal, either ending or leading but easy to be fooled).
ES 30-min: here is where the diagonal or flat idea comes from in the futures ('careful' this is the CFD, not the futures). The count is ugly and might want to let the machines work on it for a while.
SPY / ES got a new higher high. SPY opening gap now closed. Watch this wedge carefully.
ReplyDeletehttps://www.tradingview.com/x/VMynIxb4/
TJ
ES 30-min: here is a better looking potential triangle. Watch these rascals close.
ReplyDeletehttps://www.tradingview.com/x/XU90JDB4/
TJ
Wascally Wabbits!! :)
DeleteES 30-min: if 4,595 goes watch out for a pattern on a larger time-frame. It hasn't gone just yet.
ReplyDeletehttps://www.tradingview.com/x/6Gw5NOII/
TJ
ES/SPY - stick save at the close; pattern can still be a contracting triangle for the moment.
ReplyDeletehttps://www.tradingview.com/x/xI35TJbd/
TJ
ES/SPY - can 'also' be counted as a "running wave', as (a)/(i). (b)/(ii) so exercise great care & patience until a larger count becomes clearer.
Deletehttps://www.tradingview.com/x/X2k7ZA4f/
TJ
Looks like NQ invalidated a triangle pattern...
ReplyDeleteES 1-Hr: wave counters may want to move out to this time frame, and place a 'wave-counting-stop' at the prior high. Look for fractal breaks higher or lower. IF price starts breaking fractals lower look for the larger 4-hr count; possibly the expanding triangle or a contracting one. Can't be more clear on that until the prior lows at 4,552 are broken or not.
ReplyDeletehttps://www.tradingview.com/x/ynCHaOgZ/
TJ
ES 1-Hr: the first four down (red) fractals back have been broken lower. Just be careful as (if we are in a triangle or other fourth wave) they can get whippy, especially on news.
Deletehttps://www.tradingview.com/x/Z85qiR25/
TJ
ES 1-Hr: down (red) fractal at 4,595 has been undercut. TJ.
DeleteES 1-Hr: One might try moving the wave-counting -stop down to the overnight high. Then, since the upward retrace was 78 - 82%, this is one of the two triangle options that could be tried. This is the contracting triangle option to try to get over to the lower 4-Hr parallel channel.
ReplyDeletehttps://www.tradingview.com/x/pVMOzoss/
The other option is the expanding triangle option, but it requires fully taking out the 4,554 low. We're not close yet.
TJ
SPY 5-min: watch the measurements for a potential diagonal or a nested 1-2-i-ii count. ('Feels like' a diagonal, either ending or leading but easy to be fooled).
ReplyDeletehttps://www.tradingview.com/x/ay4DbphN/
TJ
too far sideways; no longer has the 'right look' for a contracting diagonal. TJ.
DeleteSPY 5-min: because of overlap, it's possible to have a, triangle b within a larger triangle, as below.
Deletehttps://www.tradingview.com/x/Fq5PKeEP/
TJ
..wave has now broken down lower; only other thing I could see might be a Flat in the futures; but the waves are not there yet. TJ.
DeleteTextbook bear pennant on iwm weekly. Everyone has forgotten about the regional banks
ReplyDeleteES 30-min: here is where the diagonal or flat idea comes from in the futures ('careful' this is the CFD, not the futures). The count is ugly and might want to let the machines work on it for a while.
ReplyDeletehttps://invst.ly/10vysb
TJ
A new post is started for the next day.
ReplyDeleteTJ