Friday's "hanging man" style candle played out today with a lower high and a lower low. It is possible, but not at all confirmed, that the minor A wave is completed at Friday's high with five non-overlapping waves up.
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| ES Futures - Daily - LH & LL |
Price is still above the 18-day SMA and so the bias remains up. Further, the daily slow stochastic remains embedded. This should watched for signs that it travels below the 80 level. Then, it is possible price and the 18-day SMA might try to come together.
Have a good start to the evening.
TraderJoe
https://12345abcdewxy.wordpress.com/2020/04/20/2020-apr-20/
ReplyDeleteWhat's wrong with that count
Delete..Everything! How do you get Intermediate (A) which is 1.618 x itself!? Even in the 'best case' scenario of the FLAT, Intermediate (A) has already occurred!
Deletehttps://www.tradingview.com/x/4N1UfgsH/
..and in the 'worst case' scenario of the weekly diagonal, it would have to be Intermediate (1) down. The person who is posting these charts has 'absolutely' no clue about what he is doing or why. All future versions of his posts will be deleted.
TJ
123abc's overall count is that cycle I ended in Feb. There is nothing wrong with his hourly count.
DeleteVIX gap higher from falling wedge likely probative...gap from 38.15 close in play...
ReplyDelete..if you are referring to 123..etc. above. See my comment.
ReplyDelete..when you are replying to a comment, please use the 'reply' link so we know which comment you are referring to in the future. Thanks in advance.
ReplyDeleteES prices this morning have broken below the wave (e) of the prior fourth wave triangle, as below.
ReplyDeletehttps://invst.ly/qir18
TJ
TJ - are you showing an invalidation of the 4hr gold diag as charted the other day?
ReplyDeleteThanks
..according to TradingView's data, not quite yet, but if it does, then consider the fifth wave failure.
DeleteThis is one plausible count for the minute ((a)) wave down of Minor B. It would be a diagonal overall, and the 'expanding diagonal' is just the 'a' wave of (i) of such a diagonal. Count is subject to all the usual diagonal invalidation levels.
ReplyDeletehttps://invst.ly/qisos
TJ
There is now upward overlap on 2,773, with invalidation of wave (iv) at 2,783.
Deletehttps://invst.ly/qisz2
Also, I need time to evaluate if this minute ((a)) or just minuet (i) within minute ((a)). Might be too short for all of minute ((a)).
TJ
..there's the new low under 47.62 (Investing.com figures). This is all that is needed for a 'Leading Diagonal', but it could go lower.
Deletehttps://invst.ly/qituh
No other form of market analysis offers such clear targets and invalidation levels in real time.
TJ
..and the (c) wave of the ((iv))th wave triangle on the 16th has now been exceeded lower.
Delete..so, for the diagonal, then wave (v) lower, must remain shorter than wave (iii) lower.
Delete..calculates as 2,718 as max for (v) versus 2,723 currently.
Delete..broker quotes show 2,717 for the allowed max. Price got within 3 ticks. If 2,717 doesn't hold, it would suggest the diagonal ended at 2,723.50 and we are now in a flat wave. If 2,717 holds, the diagonal is still good.
Deletehow would one calculate the oil fib targets at this point - use USO?
ReplyDelete$wtic at stockcharts
Deletethanks!
DeleteHave printed out a few of these arching rollover wave beginnings.
ReplyDeleteDaily S&P 500 futures could be losing the embedded slow stoch:https://invst.ly/qiwds
ReplyDeleteES 2,736 higher, exceeded in less time than 2,736 to the low of 2,717.25 took to build. This could be a good place to begin a new (at least temporary) up trend. Watch to be sure the low holds.
ReplyDeleteTJ
ES one minute ..five waves up with an extended first wave, good to 2,750.50 or less.
Deletegood to 2750 or less?
Delete..chart ..
Deletehttps://invst.ly/qixb9
TJ
june wti under 10
ReplyDeleteunder 7 here we go
DeleteES reaches 90% upward wave .. the market's favorite trick; will it go over the high in a b wave or not?
ReplyDelete'true' 90% reached ..
Deletehttps://invst.ly/qixrk
TJ
I think Neely's 2nd wave takes more time than 1st wave is savior sometimes.
DeleteAny upward move can be trusted only after 2.30 pm as per that guideline.
Time taken by 2nd wave will be move than 5 waves up.
https://imgur.com/TW0B6nF
DeleteA 150% upward wave and a flat..
Deletehttps://invst.ly/qiy15
TJ
..now below the starting point of the flat
Delete..complex flat .. w-x-y, and now over the prior b wave. Whippy into the close.
Deletehttps://invst.ly/qiygk
TJ
(CNN)Congress has reached a deal on a fourth corona virus relief package, this one aimed at sending additional help to small businesses and hospitals struggling amid closures as well as expanding support for testing. See CNN for more.
ReplyDeleteCNN is unwatchable.
DeleteThere's the Interactive Brokers full-margining requirement at 15:50 ET. Prices from 2,730 to 2,720 in less than one minute.
ReplyDeleteAlthough the day isn't over, and NFLX reports in the after-hours, I am currently showing the daily slow stochastic as not embedded.
ReplyDeleteThinking of something like this.
ReplyDeletehttps://imgur.com/Erg9TQJ
Added invalidation level.
Deletehttps://imgur.com/a/VjiqvqT