I wasn't a big fan of the triangle sketched out earlier in the comments for the prior posts. So, after the heat of the battle, I took a step back to weekly chart, and the following count occurs to me that it can not be ruled out.
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| SPX500 (CFD) - Weekly Close - Looking for Minor C |
Based only on the sizes of the A and B waves, that is, based on degree labeling alone - it can not be ruled out that Minor wave C will be a contracting ending diagonal. We all know the (b) wave went essentially nowhere and had different forms in different markets. This might be a reason why.
Price is making higher highs which is also a potential sign of a diagonal or something larger upward. If this is what should wind up occurring, it would also be one of the trickiest waves of a lifetime. I will also offer the caution that this is still hypothetical and very risky.
Have an excellent start to the evening,
TraderJoe
Thumbs up
ReplyDeleteThis ending diagonal continues to be pushed out in time!
ReplyDeleteAt some point he'll have to convert to an expanding diagonal.
DeleteIt is looking like an expanding diagonal on the monthly ES chart since the 2020 low.
DeleteThis is the way Cujo has it configured.
Deletehttps://schrts.co/AxKErYve
There's ole Roy - compliment in one hand (@5:49 PM), knife in the back with the other (@9:22 PM). I have said many times, the expanding diagonal is likely the best alternate. TJ.
DeleteThe best reason to say there is no 'expanding diagonal yet' is that there simply is 'no sign' of an even LARGER (4)th wave down when we are still making new highs. Get it people?! You want an even LARGER (4)th wave down to overlap with wave (1) ?! But the market is still making new highs, and can't even take out the June 10th lows??!! Maybe that will happen. MAYBE. But there simply is absolutely no evidence of that yet. None.
DeleteTJ
Did you see me say you didn't have that as an alternate? You having that "on the table" is common knowledge. Settle down, man.
DeleteSettled. TJ.
DeleteThanks Tj. Very difficult markets to count. Neely is better with saying Dow 100k as one day it will reach :)
ReplyDeleteFun playing with Chatgpt. https://chatgpt.com/s/m_6a732deb9864819184088f1bb64edbeb
ReplyDeleteYou knucklehead! That isn't even the S&P500 Index. 1) Here's the real S&P shown below. Look at the differences.
Deletehttps://www.tradingview.com/x/viKkWrsa/
2) Just look at where it put the 1 & 2 in Jul - Oct 2023, on interior waves! You're an idiot for posting this. It is 'not' fun.
TJ
Noted. I didn't intend to show a count. I just asked chatgpt to draw a chart of what they think as per Ew.
DeleteNo. That is not ALL you did. You also posted your nonsense chart here, which is against the Ground rules. Stop being an idiot and start learning to count waves for yourself. How MANY times must I say this? TJ.
Delete@manu .. if you don't knock it off, you are going to force me to put all comments "on moderation" meaning I will have to review them first before posting, and when I do that there is a big delay before they hit the page. You wanna do that? Keep up the nonsense.
ReplyDeleteTJ
IF they haven't, everyone should read my comment @ 09:26 AM in response to the expanding diagonal possibility. TJ.
ReplyDeleteSPY (cash) 15-min: First, here is a cash chart as the gaps make it a bit easier to read. Second, there is an expanding diagonal - at the beginning - for those that want one. Third, waiting on a fourth wave in ~106 candles.
ReplyDeletehttps://www.tradingview.com/x/vySAWQnc/
TJ
Deal on the corner..https://www.aljazeera.com/news/liveblog/2026/8/5/iran-war-live-tehran-oman-talks-on-hormuz-positive-ship-hit-in-red-sea
ReplyDeletePlease do not post generally available news articles. We can all read. TJ.
DeleteSell the news is real, just ask Apple
DeleteSMH Daily - Just revisiting everybody's favorite Group. Nice combo for wave 4. Seems like a long way to go a new ATH. This is not commentary regarding the S&P 500.
ReplyDeletehttps://schrts.co/xQhmCnkY
SPY 5-min: there is now a lower high and a lower low; so a fourth wave 'might' be getting underway. Still fourth waves can have a propensity to go sideways or trade 'over-the-top' again, so be very cautious.
ReplyDeletehttps://www.tradingview.com/x/2HQ2bYq7/
TJ
Certainly, has the look of a blowoff top.
Delete..the high-to-open gap has filled, not the close-to-open
Deletehttps://www.tradingview.com/x/5zxhziHT/
TJ
..now the close-to-open gap has filled, and looking a bit more impulsive.
Deletehttps://www.tradingview.com/x/BpQigmz6/
TJ
.also getting the fourth wave signature within the timeframe of the candles, and a touch of a lower trend line.
Deletehttps://www.tradingview.com/x/mNkwwUKK/
TJ
October stands taller
ReplyDeleteThe comments for this blog are now currently on moderation only. That means your comment will have to be approved before posting. If they are quality posts, they will be probably be posted - with some delay.
ReplyDeleteTJ
A new post is started for the next day.
ReplyDeleteTJ