Nothing much has changed from yesterday, except the EWO has lifted a bit more towards the zero line.
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| ES Futures - 4 Hr - EWO Green |
See yesterday's post for the fourth wave options which would be 'longer in time' than the one shown. Keep one eye on the FED announcement tomorrow, and another on any firm agreement for a fiscal stimulus from Congress.
Have a good start to the evening.
TraderJoe
Time for a bounce...?
ReplyDeletehttps://12345abcdewxy.wordpress.com/2020/03/17/2020-mar-17/
That does not look to me like an impulsive move off your prsumed low.
DeleteDont' like it because wave 1 rarely if ever 50% of an impulse. Also, an ending diaganol is labeled 1-5, not A-E. If we are due for a big bounce, then its because we made a a zig zag down and we need a decent retrace before another zig zag. But, it sure seems like news/panic cycle we've got or about to finish the 3rd wave and thus just a 4, before the next big move down. My target has always been 1800-2050(since december to be honest, haha)
DeleteFair point. Alternative ongoing decline scenario in comment section:
Deletehttps://12345abcdewxy.wordpress.com/2020/03/17/2020-mar-17/
the FOMC meeting is cancelled since they met Sunday night.
ReplyDeleteI don't believe the above statement to be correct. FED page, still has the meeting list - just under "expedited procedures", meaning closed to the public.
Deletehttps://www.federalreserve.gov/aboutthefed/boardmeetings/20200317closed.htm
Where did you get your supposed information?
TJ
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm&ved=2ahUKEwiooum_sqToAhUjgK0KHfYdD5cQFjAAegQIBhAC&usg=AOvVaw3ePzdjBtj83rhx6NcaFT-W&cshid=1584547295828
DeleteThanks, conflicting information on the same site!
DeleteWatching this overnight.
ReplyDeletehttps://imgur.com/JVJcCf9
Def a possibility as my original 3 target was lower but I called 3 finished and going with us in 4 now. But wouldn't be surprised if it went the other way.
Deletefor DAX, maybe something like this
ReplyDeletehttps://imgur.com/bmvR0pe
SPY keeps trading through circuit breaker and made new low
ReplyDeletehttps://www.cnbc.com/quotes/?symbol=SPY
Looks to me now like 2706 would be the end of big 4, now in or done 3 of an ED for big 5, the low is imminent and next will be min .5 retracement of the full wave. I'm guessing the low at 2300 - 2350.
ReplyDeleteAlt, it's ending big 3 in the same fashion, with lower limit ~2330 SPX. Still possible.
DeleteLooking at the move from 2350 to 2706 - it is very deep, on the verge of being too deep, as a sub 4 of big 3 down. As a big 4, it is just shy of .38 retrace of big 3, which is more consistent with the crashing.
ReplyDeletecorrection, from about 2395, .38 retrace on cash, futures was a bit more I think. Same concept holds.
DeleteUpdate
ReplyDeletehttps://imgur.com/BaKfn8t
or triangle?
DeleteLooks like an ED in formation. Lets see.
Deletehttps://imgur.com/a/NmWwYEQ
There is a clear, very small degree diagonal upward here. For a leading diagonal, the low must hold.
ReplyDeletehttps://invst.ly/q5qhv
TJ
Looks like there was abc correction up and now a downward impulse.
ReplyDeletehttps://imgur.com/a/KNpiLH0
5 waves down.
Deletehttps://imgur.com/a/C6BXec0
is this a barrier triangle ?
ReplyDeleteFor those that think 3 can make 1.618, then there is a way to see ((iv)) of 3 as the barrier triangle.
ReplyDelete..otherwise flat for wave 4, most likely (FED & econ stimulus announcement)
Deletecircuit breaker again
ReplyDeleteIt looks like only for 15 mins on CNBC news..
Deletehttps://www.cnbc.com/2020/03/17/stock-futures-fall-slightly-after-market-rebounds-on-hopes-for-1-trillion-stimulus.html
so is the ending diagonal complete or are we going down for the barrier triangle target?
DeleteAre we thinking we still need a barrier e wave?
ReplyDelete5 mins charts so far.
ReplyDeletehttps://imgur.com/a/CtTmiyQ
I am just providing some measurements at this point. It is the market that must tell us it is ready to turn. Still inside of 1.382 as of this point.
ReplyDeletehttps://invst.ly/q5ue7
TJ
looks like a running triangle and then the move down
DeleteET, does this look line a diagonal forming ?
ReplyDeletehttps://imgur.com/a/eiwgRhe
Wait and watch game to see if it holds.
EWO signature is also matching with divergence at the lows.
Delete1.618 of 1 hit
ReplyDeleteAgree !
DeleteRally back into the triangle.
ReplyDeletehttps://invst.ly/q5w2k
TJ
Rally occurred on Senate finding enough votes to pass the second of the smaller house stimulus bills.
DeleteA new post has been started for the next day.
ReplyDelete