Monday, June 16, 2025

Cash to 90%+

After three-waves down we noted over the weekend, the SPY cash index went to the 90% level, plus some, as below. The current front month (June) ES contract did also. The roll-over contract went to the level of 1.236 times the down wave.


The ES price is still over the 18-day SMA. The bulls are still in control. That being the case, a (b) wave of a Flat, Expanding Flat, running Flat or of some of the kinds of triangles is still possible, but no conclusions are reached as of this time.

Have an excellent rest of the evening.

TraderJoe

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12 comments:

  1. Elliott_TraderJune 16, 2025 at 8:01 PM

    ES (SPY/CFD) 1-hr: 1,618 wave down in the overnight, so far, and lots & lots of overlaps.

    https://www.tradingview.com/x/80HFIW9h/

    TJ

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  2. manuJune 16, 2025 at 10:20 PM

    Thanks TJ. https://www.neowave.com/tradingblog/blog.asp?bid=201

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    Replies
    1. 6QJune 17, 2025 at 10:23 AM

      It is interesting to hear what Neely says but carefully, wisely, because it is not as accurate as he says. He usually works charts with a very high Timeframe (from weekly to 6 month chart) and he does not trade based on waves. Only with his Neely River Trading System, where he does not use waves.

      Delete
    2. 6QJune 17, 2025 at 10:30 AM

      Neely count could be compatible with this one from E.T. (leaving labels aside)(https://studyofcycles.blogspot.com/2025/01/its-official.html

      Delete
    3. manuJune 17, 2025 at 7:32 PM

      Thanks 6Q. I was looking for this post but was not able to search. I don't know when TJ will complie all this in a book and I can pay and get a 1st signed copy. Thanks Tj in advance. Also please update this chart. Will be interesting to see.

      Delete
  3. Lady SJune 17, 2025 at 9:39 AM

    So, we have to see wave e, to the April low again manu?

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    Replies
    1. manuJune 17, 2025 at 7:30 PM

      Can't say. On Macro level Govt.'s are calling the shorts after Covid not Central Banks and they can get things crazy.

      Delete
  4. Elliott_TraderJune 17, 2025 at 1:01 PM

    ES 5-min: with a lower high and a lower low, I would put a wave counting stop above the 6,081 ES (SEP) morning high. There is a chance that was a diagonal up.

    https://www.tradingview.com/x/RAXkT5cv/

    As always, the question is whether it is leading or ending, so watch the low and watch the high.

    TJ

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  5. Elliott_TraderJune 17, 2025 at 3:35 PM

    SPY 1-hr: just fyi, cash did close Gap # 8, as below.

    https://www.tradingview.com/x/HUcwsHyV/

    TJ

    ReplyDelete
  6. Elliott_TraderJune 18, 2025 at 10:04 AM

    A new post is started for the next day.
    TJ

    ReplyDelete

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