In the ES futures (and SPY CFD) 30-minute chart, is it possible we are in the Mother of All Diagonals (MOAD)? This is because of 1) the prior triangle - which could be a 'b' wave, 2) the new overnight high, and 3) the current numerous overlaps as the 'first-of-the-month money' has helped send price to capture the intraday 18-period SMA at least temporarily. There are also some downward fractal breaks to consider.
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| ES/SPY (CFD) - 30 min - Intraday Wave Counting Screen |
At the present time, the diagonal could point either lower or higher (with higher currently shown). But the invalidation of the upward diagonal is clearly shown.
Have an excellent rest of the day.
TraderJoe
SPY (cash) now has a new higher high. TJ.
ReplyDeleteThe End is Nigh
DeleteES/SPY (CFD) 30-min: downward overlap again.
ReplyDeletehttps://www.tradingview.com/x/rDRH6KDj/
TJ
...also in the June ES futures, move the invalidation for the current upward diagonal 'up' to 7,586, from 7,576, as the down wave would become longer than wave purple (ii) and this would break the rules for the current potential contracting diagonal.
DeleteTJ
SPY (cash) hourly - just fyi - the intent of this chart is to show a secondary channel, and gaps at 50% and 62% from the current measurement. (It's not relevant yet, but if this were just an a-b-c, up, then if a much larger down wave happened, it might lead to a much larger diagonal structure. That is completely in the future, yet.)
ReplyDeletehttps://www.tradingview.com/x/pxgmvJNK/
TJ
CN you put the chart to clarifying the diagonal you talking about?
ReplyDeleteThis is one form the diagonal could take to complete tomorrow, providing the lengths stay valid.
Deletehttps://www.tradingview.com/x/iy7r4gYF/
Do you know the 'rules' for the contracting diagonal?
This is a second form the contracting diagonal could take, depending on specifically what waves are validated or invalidated. I have changed the colors so that you can clearly see it is different and the lengths are different.
https://www.tradingview.com/x/Rec0zmMA/
But the overall idea is the same. You must follow the length and follow the rules.
TJ
Nice thanks a lot
ReplyDeleteFrom what I can see, the smaller diagonal just invalidated (Form #1). That means the market is in a slightly weaker position. One of the larger forms of diagonal can occur. See Form # 2 in 7:04 pm, comment, above. TJ.
ReplyDeleteLol! Trump must be watching futures. Iran say Hormuz if "Fully Closed". He insists talks continuing at a "Rapid Pace". My origins in the Virgin Islands (St Thomas) now experiencing rolling power outages, and they are not block-aded like Cuba is. St. Thomas is American owned!
ReplyDeleteThis is not a political blog. Please post that stuff elsewhere. Got it!? Stick to Elliott Wave or be sent to the spam list. TJ.
DeleteHow it looks in the big picture?
ReplyDeletePls stop with these incessant questions over & over. Simply read past posts. You are to do the work. TJ.
DeleteSorry just want to think if it's the last move in your thoughts, but maby no one can guess until we will get lower low and lower high
ReplyDelete...waiting, 'patiently' to see if the pattern even forms correctly. TJ
DeleteThanks Tj. As you to say nothing till it is below 18 sma which is around 150 points from here. May be a turn around Tuesday and big ipo's coming.
Deletefyi only - information for you
ReplyDeletePerpetual Bitcoin Futures Approved
And we can't even get non-expiring regular index futures. Boy, oh, boy.
TJ
Spy 30 minutes TJ's secondary channel with experimental labeling with wave 1 as the extended wave.
ReplyDeletehttps://schrts.co/qDXZDvtz
Es Nq dow futures now all have a new higher high.
ReplyDeleteES 1 hr futures - the price pattern so far suggests this count for the potential MOAD.
ReplyDeletehttps://www.tradingview.com/x/kc2oYnnI/
TJ
Thanks Tj. Can ending diagonsal be measured in a very long term analysis too? say that Niekki IF was in an ending diagonal from Oct 1989 till July 2012 and breakout still going on. Also, did RE considerd so much pumping of liquidity by governments in his book while describing counts. Niekkie, Kospi, es, nq charts look as some short squeeze in the middle of war.
ReplyDeleteNdx down .8 % Nq .3% is this normal ?
ReplyDeleteES 8-hr close: it's getting funky. It may not be a diagonal, fifth. But I'm watching to see if ES 7,570 gets overlapped to the downside on an OHLC chart.
ReplyDeleteMeanwhile with a 140 candles and a clear fourth-wave signature on this timescale "it's a whole lot of wedge".
https://www.tradingview.com/x/EEVVJY3N/
TJ
..there is ES 7,569 .. chart to follow.
Delete...here's that overlap warning; in the futures, not the CFD.
Deletehttps://www.tradingview.com/x/ZEgPAYRO/
TJ
A new post is started for the next day.
ReplyDeleteTJ