Either count in a parallel might result in five-waves-down on the SPY 15-min chart. It is often typical for the fourth wave to be longer in time than the second wave.
Readers of this blog know we were well-prepared for the downturn at the end of the day, even calling for a potential b wave downward if there was downward overlap, which there was. There could be more downward. Nothing in the downward direction will surprise us.
Have an excellent start to the evening,
TraderJoe
New NDX low likely probative.
ReplyDeleteSPY gap at 585
ReplyDeleteSPY cash 15-min: does have a lower low and may be considered as into v down on a divergence.
ReplyDeletehttps://www.tradingview.com/x/AQzzjMQl/
TJ
Could today's 5th wave be the completion of an expanded flat correction, which began on Friday, 24 January?
Deletehttps://www.tradingview.com/x/Kcr4JplL/
What do you think?
Or it can be 'part' of a wave that goes back to the election low. Treat all waves cautiously in here. TJ..
DeleteGold (GC) Hourly - gold futures are breaking lower in a longer wave. 'May have' started the 'c' wave of 4 lower, or more.
ReplyDeleteC wave on ES may be now, if so NVDA will rally with it.
ReplyDeleteA new post is started for the next day.
ReplyDeleteTJ