Market Indexes: Major U.S. Equity Indexes closed mixed
SPX Candle: Lower High, Higher Low, Lower Close - Inside Candle
FED Posture: Quantitative Tightening (QT)
Today appears to be a narrow range consolidation day. It does not appear to be a big deal at the moment.
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| S&P500 Cash Index - Daily - Inside Day |
The Elliott Wave Oscillator is green and is again increasing, even though price was lower. The Dow Jones Industrial Average perked up a bit today which is a positive.
Have a very good start to your evening.
TraderJoe
Nice wedge today.
ReplyDeletehttps://www.tradingview.com/x/iNmWYIcz/
On 7-24 Williams bearish twin peaks I think was a good idea. If I follow Elder's force index 2 day correctly any dips below 0 line use trailing buy stop. Set buy above trailing high. Stochastic is embedded.
I have been following e-mini S&P 500, and it is respecting fib targets beautifully.
ReplyDeleteThis is my assessment:
- The wave (((v))) of ((i)) of (iii) just got completed as an ending diagonal,
- We started the ((ii)) of (iii) as of today. I expect it to be a shallow correction that ends around 2770 (38.2%)-2788 ( 23.6%) of wave ((i)), but takes time showing its corrective nature. It should last 1-2 weeks from today.
Degree violation I believe.
Delete