With apologies to the Harrison title, the President is calling a U.S. company a rotten Apple and imposing tariffs on its products. The result to the ES 1-Hr futures looks to have made a fifth wave down this morning, adding considerable price length to the drop.
And the patience paid off. We'll look at the larger picture on the weekend.
TJ
Hoping the recent high is a b of a triangle or 2 of a diagonal for some clarity.
ReplyDeleteSeems profile of a 2nd of some variety...
DeleteWow, am I ever happy the "news" fits the pre-established count. How in the heck did that happen?
ReplyDeleteDoes circle 5 of 1 down compared to 11 up constitute a degree violation if larger?. My data may be off but it measures slightly over. Thx.
ReplyDeleteGood question. No, once the expanding diagonal for wave i is completely formed, then wave ii can be in 'any' relationship to wave i, it's companion, except that it may not exceed the start of wave i. Wave ii can be shorter or longer than any sub-wave in wave i, either in price and/or time. What wave ii can not do, is be longer in price or time than the prior minute waves up within Minor A. Hope this helps. TJ.
DeleteImmensely! Thanks for the explanation!
DeleteJust re-read your April post : https://studyofcycles.blogspot.com/2025/04/?m=1 Down we now have sufficient info to rule out one of the two possibilities, CED , or TZZ? The former would suggest a considerable decline, and a swift one at that, still ahead. Appreciate your mentorship T.J. While readers may not say it often, I am sure they feel the same. Thank you for writing the blog!
ReplyDeleteWelcome. Thanks for the nice comment. TJ.
DeleteAnd the technical point of the next day's post is precisely that this red alternate is also possible with roughly equal odds.
Deletehttps://www.tradingview.com/x/SM4yvUKI/
I'll post this there in the comments, too.
TJ
I closed my puts on Friday and picked up a single call. I notice CNBC has not headlined the futures move yesterday or today, full hush. I think some long dated straddles at key entries might prove useful this week, somethings gotta give. Further out, I'm going to look for 608c on a pullback from a Tuesday gap and go and some cheap long dated insurance at 575p. Should be an exciting week.
ReplyDeleteLol! Ditto. Stunning to see same day expiration put contracts trading North of 5 bucks at the open go no-bid by the close. BTD sentiment is alive and well. We may head up to test underside of busted ED. DJIA will probablyout-perform as the only index with an open over-head gaps. Interesting week indeed!
ReplyDeleteA new post is started for the next day.
ReplyDeleteTJ