The Nasdaq 100 Index, largely on the strength of Tesla, made a new all-time high today. The ES futures and cash S&P did not, as of yet. If we look at the Nasdaq daily futures, we find a second up wave that is larger than the first up wave. The second arrow is the same size as the first.
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| NQ Futures - Daily - Count |
This daily count offers a count without degree violations. Wave (b) has to be the longer flat if wave iv is to be a sub-wave of wave (c). But within wave (c), wave iii is smaller in price that wave i. So wave v should be smaller in price than wave iii.
Have a good start to the evening.
TraderJoe
Gold triangle on life support. Does not look impulsive internally from Sunday night high.
ReplyDeletehttps://imgur.com/IbhsdVF
With the minor overnight low, one can now make a case for a impulse down form Sunday night. The internal waves are not appealing but on a 30 minute, it is what it is. Larger triangle survives so must see more waves.
Deleteisnt the ewo pullback too large for a 4th wave (when looking at appropriate number of bars)?
ReplyDeletethanks joe.
See post on next day. Depends on if a triangle or diagonal is being made.
DeleteS&P 500 futures reversed and popped higher.
ReplyDeleteYou mention "The Nasdaq 100 Index, largely on the strength of Tesla, made a new all-time high today." FYI - Tesla makes up 1.53% of the Nasdaq 100.
ReplyDeleteAs of Feb 3rd, Microsoft and Apple make up around 23% of the Nasdaq 100.
DeleteTSLA straight up now. Where it ends who knows, but we all know what it looks like when it ends. https://invst.ly/prdad
ReplyDeleteAnother post is started for the next day.
ReplyDelete