Here's the daily chart. I'm going by the measurements only. A new high for (iii) or a longer fourth wave, (iv) are certainly possible.
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| ES Futures - Daily - Potential Diagonal |
The market has made the current trend lines, not me. I just connected the prices. At this point, I am going to refrain from calling it nested waves higher because of the proximity of the overhead daily Bollinger Band, the diverging RSI, the diverging hourly MACD (not shown) and the over-bought daily slow stochastic, below.
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| ES Futures - Daily - Overbought |
From this chart, as Ira says, keep in mind price is "above" the line in the sand and has positive bias - until it is not and does not. Also, "up" Mondays sometimes - not always - lead to Tuesday reversals. In any event, I'll be treading lightly to heed Ira's guideline of not buying new positions over a daily Bollinger Band. (Not to be taken as trading or investment advice - just a paraphrase of Ira's guideline.)
Have a good start to the evening.
TraderJoe
Why not in 5 up from Jan 31?
ReplyDeleteAD line divergence still holds with the up day today.
I think we hit a final top exactly at 3400.00, give or take.....
ReplyDeleteOn the B wave count were are close to 1.618 of the 2018 A wave and at y = .786 w within.
ReplyDeleteLast week I wrote if there is an ED it begun early December - https://invst.ly/ptky0
ReplyDeleteCompleting impulse from the low yesterday and we will have a-b-c hitting the trend line and 0,618 for w3 of ED.
What is the name of your youtube channel?
ReplyDeleteFollowing this 15-minute chart at the moment..the numbers are bar counts. Note that wave 2 (if it is that) is 4 x 1 in 'time'.
ReplyDeletehttps://invst.ly/pts9b
TJ
Interesting, I count 12, 47, 44, and maybe a failed c at 48 bars?
Delete..yes, a fourth wave 'c' wave could fail.
DeleteThe trend line with 0,618 extension hit - https://invst.ly/ptt66
ReplyDeleteNow waiting to see what happens
pretcher went BROKE exactly the same way....top hunting
ReplyDeleteWe are now equal to or past the time where a 'fourth' wave would be longer in time than a 'second' wave, regardless of what form the fourth wave took from here.
ReplyDeletehttps://invst.ly/ptuaf
TJ
..also there is overlap on the 'third' wave which would legitimize any running fourth wave, if one occurred.
DeleteElliott_Trader:
ReplyDeleteI see that you ignored my q. I see a lot of mentions of your youtube channel on this blog but couldn't find a link. Do you not do it anymore?
videos are posted here now.
DeleteI see but still if you would be so kind as to give me the link to your youtube channel, I'd appreciate it as I'm studying your old blog posts.
Delete..the YouTube channel was removed due to misuse and piracy by others.
DeleteIn the very, very short term downward count (1 - min), so far, the only impulse is the 'c' wave.
ReplyDeletehttps://invst.ly/ptvvk
TJ
..price has tagged 78.6% downward of this morning's upward 'b' wave.
Deletetagging 78.6%
Deletehttps://invst.ly/ptw24
TJ
Here's a five-minute slightly more zoomed-out view.
Deletehttps://invst.ly/ptw4u
TJ
Expanding diagonal from the top in MSFT to get things going?
ReplyDeleteb of D on gold 4hr triangle may be in.
ReplyDeleteThis one is for all those who say, 1) a "B" wave just 'can't' be greater than a 1.382 wave, 2) when a "B" wave is over 1.618, then it 'must' result in a "running wave" or triangle. Sorry, folks. "B" waves can be "awful"!
ReplyDeletehttps://invst.ly/ptwqp
TJ
...downward wave can "currently" be counted as w-x-y (as opposed the as shown labeling of a-b-c) IF the fourth wave is over. Since the second leg of the downward move from b or x is greater than the first leg, it is 'possible' for an expanding diagonal c wave to form - much as Joe M mentions for MSFT, above - to maintain a-b-c instead of w-x-y. Welcome to the wonderful world of Elliott alternates.
DeleteInteresting candlestick on daily S&P 500 futures. Also interesting if the low from the prior day's outside up is taken out tomorrow. https://invst.ly/ptx0w
ReplyDeleteThere is a new post for the next day.
ReplyDelete