Friday, February 14, 2020

They Know We're Watching

Happy Valentine's Day to all. Still waiting on confirmation that wave (iv) lower has started.

ES Futures - Daily - Potential Diagonal


Have an excellent start to the long weekend.
TraderJoe


8 comments:

  1. I believe the truncation is correct

    https://invst.ly/pv61b

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    Replies
    1. Wave iii of (i) is longer in time than i of (i). That would be unusual in a contracting diagonal. Not impossible, just unusual.

      Delete
  2. Joe thanks
    If a bullish count is intact from 2009 low how could we evaluate a good invalidation level? Or is that something irrelevant ?

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    Replies
    1. If the entire movement since 2009 is considered as one bull market, as per the chart, below..

      https://invst.ly/pv9zf

      Then recognize there has 'never' been a monthly close below the log channel. So, a monthly 'close' below the channel - below 2,700 should do it for invalidation.

      TJ

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  3. I doubt this ED will play out... one more high and we will have five waves.
    More likely to see this one - https://invst.ly/pv79l

    It makes more sense to see the indexes with synchronized patterns starting big decline instead of... something unfinished. Look at NYSE you need completed pattern - https://4.bp.blogspot.com/-wgKOdmbLx6I/Xkd2vy0vUtI/AAAAAAAAJmw/su7agbTnGQUPDbMLFeCFvYq5C9G67FwcQCNcBGAsYHQ/s1600/w429-2.PNG

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    Replies
    1. No. I don't think that's right. For indexes to be synchronized, then Jan 17 should be (i) in the $NYA, and it is coming up to make (iii) like the other indexes are.

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    2. If the SP500 decline for iv NYSE will not make higher high for iii and if we see higher high next week we have five waves for a different ED.
      One more pullback and higher again does not fit any more - on NDX is dead already too strong, NYSE makes lower high too weak....

      Delete
  4. A new post has been started for the next day.

    ReplyDelete