There is a gap down and a lower low in the ES futures in the early Sunday evening trade. This lower low fits the requirements of wave sub-minuette v, down, of wave minuet (i) down, of wave minute ((iii)), circle three, down, in the following chart.
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| ES Futures - Daily - Below Channel |
This sub-wave is currently shorter than minute ⓘ, circle-((i)), down in both price and time. So, we suspect that up movement from here is part of minuet (ii), up. Each of these will likely become part of a larger five-wave-down move at the minute degree to make up the Minor degree A wave down, as shown above.
Here are the recent five sub-waves on the hourly chart.
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| ES Futures - Hourly - Wave (i) |
Have an excellent rest of the evening and start of a new week.
TraderJoe
Nested 1,2s right in line with the 5 official H.Os on the clock. We had a 6th observation last week. It would appear last week's volatility spike was just a warm-up.
ReplyDeleteJapan is leading the markets down. The Dow will play catch up as Bitcoin heads lower. What will interest rates do as the failing economy becomes a reality. A 35 trillion debt to manage with decling tax receipts will result in unprecedented measures. Hold om if the Japan cycle C blows out. Thanks TJ,
ReplyDeleteJapan big support at 30K if it blows through that forget it.
ReplyDeleteOnce the VIX passes 30 like it did in 2020 i think crash odds go way up.
ReplyDeleteiv to v looks like it will longer than ii to iii, which is a rule violation, no?
ReplyDeleteSince third waves can't be the shortest, and i was much longer than iii
DeleteNVDA postpones new chip, Classic bubble busting . Mercury went retrograde today and April firsr. Powerful stuff.
ReplyDeleteES 4-hr: already at 1.618 extension. Can go a bit further if it wants.
ReplyDeletehttps://www.tradingview.com/x/mgUOkZxk/
TJ
Overlap on the daily.
ReplyDeleteLooks like the SPX is in corrective sequence to me. If so when done should head towards 5k...
ReplyDeleteCrude below the e wave.
ReplyDeleteSome brokerages are down.
ReplyDeleteSPX options spreads are the biggest I have ever seen, at this moment.
ReplyDelete4,5,6 or 7 between bid and ask. That's $400 - $700 per contract! 🤯
Normal bid/ask spread is less than 1.
Typical in bear markets....
DeleteThe spreads are now narrowing, as the Index recovers from the huge gap open.
DeleteUpdate: SPX options bid/ask spreads returned to the normal range of less than 1 point, after the VIX leveled off from its plunge.
DeleteReal f$%king nice when taders take position, then on the day to execute, platforms go to shit.
ReplyDeleteHope they all still get their bonuses!
Lol..."conveniently"
DeleteZB_F top?? I wonder. Looks like wave 4 is getting close here. Just waiting.
ReplyDeleteOn the phone but off the bottom it could be an expanding diagonal with an expanded flat that ended near the close.
ReplyDeleteLabels look ok on top chart and 4 is large enough already. Bigger question is on es is that diagonal off lows leading or ending
ReplyDeleteAlso massive weekly hammer candle on nq, plenty of week left, but relative strength on nq vs es possible capitulation
ReplyDeleteA new post is started for the next day.
ReplyDeleteTJ