The ES futures had an inside day up, on a gap, with a higher close than Friday, but closing below the high to possibly make a Doji candle. The Doji would require a confirming candle lower, even for the c wave of a potential triangle or Flat.
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| ES Futures - Daily - Inside Day Up |
There were no intraday counts from me today because there were no contributions from others. I'm perfectly happy just trading my own account.
Have an excellent start to the evening,
TraderJoe
thanks.
ReplyDeleteI dont think there is much to add beyond your Friday chart.
ReplyDeleteHard to see much happening before election eve.
DeleteTech earnings will definitely make a difference but probably to the upside
DeleteSome sort of a triangle
ReplyDeleteTJ, if you have time, your thoughts on the weekly NDX chart would be interesting.
ReplyDeletehttps://invst.ly/16-xy-
I don't have the software to get 110+ candles at the pot minor 4 (black) location..
would be great if you could post a chart with RSI or AO.
Some thoughts.. IF the august bottom is a wave four, I find it strange that the July top had such strong momentum for being a b wave.. made me think about a triangle and move the 4 to the right, but then the "e" overlap is by just a few pts... (don't now if this makes a triangle less likely or not?)
Or, maybe the july top being a strong c wave that ended minor 1 instead, in an overall bigger diagonal (blue).
Thanks!
Until there is a clear reversal and some downside length the "long term" is up for grabs and speculation. For example, in the world of "flats" this could easily be envisioned.
Deletehttps://invst.ly/16--1c
I'm not saying it 'will' come to pass. I am just saying it is one of the logical possibilities now that 'b' is >90% x 'a'. This is a key measurement.
TJ
ok. ill give it a shot. 2 alternatives.
ReplyDeletein white: ABC X ABC (finished or soon to finish second B),
or in purple: expanding diagonal (in C of 5)
https://postimg.cc/gw97vSGJ
The bit in the blue box "looks like" and currently "counts like" a Flat wave. If we're making a 'larger' pre-election triangle or flat, then the next move 'might be' a c wave down after the expanding diagonal I cited as an 'a' wave. It would make sense with 'why' we saw a possible diagonal. abc x abc down also 'might' be possible too, but it seems like it has too many complex sequences in it.
Deletehttps://invst.ly/170029
Nothing is locked in stone here; the volume is shrinking pre-election. So, wave structures tend to get strained. Nothing I can do about it.
TJ
Thanks Tj.
ReplyDeleteWhat happened to bitcoin? I think all time highs.
I don't know. As I said before, I don't trade it or follow it regularly. Did someone tell you that BTC 'could not' go higher? TJ.
DeleteI asked you not to post links from paid/premium sites. I am the only person to do that, and only when I see fit. Just how rude are you? TJ.
DeleteNoted.
DeleteSeems like after expanding Diag to downside (probably A) last week we are in B triangle about to breakdown for C..
ReplyDeleteSPY 5-min: as we're piecing things together, this looks like a pretty good diagonal downward in 5-min SPY and ES from the high.
ReplyDeletehttps://www.tradingview.com/x/YHpXvFSn/
TJ
ES / Futures / SPY (CFD) breaks morning low? META and MSFT earnings apparently out.
Deletehttps://invst.ly/170qg0
TJ
ES made expanding diagonal
Delete@marc .. as far as I can tell, it didn't because the 11:30 am high is higher than the 04:30 am high, and that would break the 'rules' at this point. TJ.
DeleteThat daily ES looks weak, turning to the right and declining EWO.
ReplyDeleteI suppose the bullish count is a 53535 leading contracting diagonal on ESZ2024.
DeleteA new post is started for the next day.
ReplyDeleteTJ