Very short post for you today. Try to observe the parallel structures, and the time sequences. It is just about as long from (i) to b, down, as it is in the entire down wave to (i).
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| S&P500 Cash - 15 Minutes - Likely Count |
Also, try to observe the patterns of alternation shown in the cash market. These are really quite helpful in deciding the count. The downward count in the futures market is slightly different to (i).
As noted yesterday, the flat wave in the S&P500 cash index prevents the count of a downward diagonal, or its cousin, the triple zigzag in that index.
As noted yesterday, the flat wave in the S&P500 cash index prevents the count of a downward diagonal, or its cousin, the triple zigzag in that index.
Within the double zigzag downward to b wave .y = .w almost to the pip. Notice, too, that the last wave iv was at the same location as the prior wave .iv to a very close approximation.
Have a great weekend.
TraderJoe
Reflecting on the longer term and with still a few days remaining in the month, the monthly S&P 500 has a bearish engulfing candle in the making: https://invst.ly/avsgm
ReplyDeleteSure does .. keep up the good work.
DeleteFurther information on the state of Corporate buy-backs as we have discussed before.
ReplyDeleteKeyword/Stock BuyBacks
TJ
Joe -
ReplyDeleteIn a 1,2 i,ii - if ii<2 in price, can ii>2 in time without violation?
(seems it could depending upon how their respective 4 and iv relate).
When time permits.
Thanks!
there have been times when wave 2 has been allowed to be larger in price and time than higher degree wave 2. i was unable to establish rules. i dont think your example is allowable BUT check the times on futures chart not cash chart
ReplyDeleteJoe, week ago I asked a question and you reply to me i had asked this question before. I don't recall asking it. Is this chart of $INDU right or wrong?
ReplyDeletehttp://studyofcycles.blogspot.com/2019/03/can-dow-make-new-local-high-or-90-level.html
0 to (i) is 3 bars
(ii) to i is 6 bars
while price is less time is more
Thank you, Gerald.
I will note the answer and make sure not ask it again.
The updated DOW count - as was shown to be the same in the S&P500 - does not contain that dilemma.
Deletehttps://invst.ly/aw8js
TJ
The (a) should be above the v, somehow it moved.
DeleteJoe, I am counting MSFT on a monthly and ran into a question on a barrier triangle. Here it is on a weekly.
ReplyDeletehttps://invst.ly/aw9ev
Is the bottom of the triangle valid?
Here is my work on daily.
Deletehttps://invst.ly/awaak
No. Definitely not
DeleteThanks, Joe. Looking at that daily chart. No idea why I have (a) (b) (c) the way I do after (D) thinking that is valid. In a diagonal it has to be all zig zag.
DeleteMy eyes are on Fridays closing s&p price. We need 2877.75 or we'd be in lower half of the bar. Regardless this summer could be difficult if we start making inside bars. Double divergence on Monthly AO and RSI.
ReplyDeleteTJ, how would the count change if the market drops below (i) low without making that final c leg that you have on the chart?
ReplyDelete..dunno yet .. don't like to deal in hypothetical. Dow made a higher high this morning - which suggests today's S&P high-of-day was only 'b' or 'x' of a second wave potentially.
DeleteSince we now have another new low, looks like another failure in the S&P500. Perhaps the DOW's expanding diagonal is ruling the day, but then the DOW needs to make a lower low.
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DeleteThanks TJ.
DeleteS&P500 62% retrace obtained. Also ES filled "pit-session" gap from 23 May to 24 May.
ReplyDeleteBlack b may be evolving into a diagonal.
ReplyDeletemore sinister bear count as i said before will be required hypothetically
ReplyDeleteA new post has been started for the next day.
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