The count from the 23 March 2020 low remains the same. Price is nearing the point where wave Intermediate (Y) equals Intermediate (W). This is a clear Fibonacci relationship of 1:1.
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| ES Futures - 2 Day - (Y) nears equality with (W) |
Remain calm, patient and flexible. Have an excellent rest of the evening.
TraderJoe
Clarification requested - Where in ((v)) of C?
ReplyDeleteThanks!
https://www.mediafire.com/view/qeqzillvf4j6fz5/WhereAreWe.PNG/file
..showed it yesterday.
Deletehttp://studyofcycles.blogspot.com/2021/08/what-we-know.html
TJ
Thanks! So, if Im following, with the smaller TF chart, we've completed w3 of v of (v) of C of (Y).
DeleteUpdate of HYG diagonal posted here: http://studyofcycles.blogspot.com/2021/07/larger-wedge.html
ReplyDeleteLooks like 4th expanded a bit (still contracting) -
https://www.mediafire.com/view/8t1gnwwm3hz4fmr/HYGd.PNG/file
Yes, Or (v) failed already. These things are pretty intractable.
DeleteTJ
Good morning all. Yesterday, an overnight triangle was suggested for wave (4). It appears that occurred, and now possibly in a fifth wave.
ReplyDeletehttps://www.tradingview.com/x/2h4J0l42/
Alternate for (4) might be some kind of expanded flat. Depends how far down this wave gets.
TJ
So, for wave (5), there is this 'possible' expanding diagonal. I'm not 'trying' to rush the count, but the market is making very ugly (i.e. non-impulsive) waves.
ReplyDeletehttps://www.tradingview.com/x/ScDJrWsJ/
So, the alternate for the diagonal is that wave (4) is not finished yet, and would become a larger flat or expanded flat wave. It has already taken up a lot of time as a triangle, so just bear that in mind.
TJ
..perhaps the expanding diagonal could get wave (5) to the market open.
DeleteTJ
..for the potential diagonal, the ES should reach a minimum of 4,460.50+ for the 5th wave to be longer than the 3rd wave. It would be nice if wave 5 took more time than wave 3, too, and, of course, it may well exceed 4,461.
DeleteTJ
ES 15 min: in the potential expanding diagonal, wave 5 has now exceeded wave 3 and hit 4,460.50; further wave 5 is already longer in time than wave 3. Of course, it can go further.
DeleteTJ
ES 15 min - now below wave 4 of diagonal. that was fast.
DeleteTJ
ES 15-min; now over the top again, so it apparently is some kind of weird flat.
DeleteTJ
...in other words (4) and now (5) in the cash market. Wave (4) had to overlap wave (3) in cash - which it did. And ES daily Bollinger Band at 4,464.49 right now.
DeleteTJ
SPY 1-min: very short term. SPY 'may have' finished with this triangle, and that's why it needed to overlap the triangle center line again. This is very compressed and whippy stuff. There 'may' also be a truncation at the high.
ReplyDeletehttps://www.tradingview.com/x/BuLDpRew/
Trading below triangle E again would be a warning for lower.
TJ
YM futures relative to the 35490-35491 window:
ReplyDelete8:30 high, 35494
8:32 high, 35492
8:41 high, 35496
8:49 high, 35519
9:07 low, 35393
time will tell if this will be significant.
Re AMZN, looks like 5 waves down before it perched on the 200 day moving average. Where the next three ends will be informative.
NYSE AD Line (common) - update, observations
ReplyDeletehttps://www.mediafire.com/view/r0e5qcqbadiywk5/ADLineCommon.PNG/file
SPY 3-min: somebody's been squeezing the bo-peepers out of this wave for the last couple of hours - making what looks like another internal triangle.
ReplyDeletehttps://www.tradingview.com/x/Ad6ydJWI/
TJ
So, when I back off to put 120 candles on the chart, and considering some of the internal triangles, I couldn't help wonder if they were trying to stall until after the weekend. That could put the count like this.
ReplyDeletehttps://www.tradingview.com/x/JBTNtF3P/
There is, in some form or fashion, a 1.618 wave. Wave ((3)) could be located one peak to the left - where wave 3 is now. But, at this point it matters less. I suppose the higher wave might provide better alteration for wave (2) in SPY cash.
TJ
..and SPY / ES did get to within 90% of the high last hour.
DeleteTJ
..and if they want to stall until Tuesday, they could make wave (5) an ending diagonal. It would take a lot of time, and not necessarily make much price progress higher.
DeleteTJ
There is a new post started for the next day.
ReplyDeleteTJ