Tuesday, September 14, 2021

Grindy & Neutral

The expanding diagonal we called yesterday did indeed turn out to be 'Leading' as there are lower waves after it. A line chart (just to show the form) is below.


With another failure and gap fill after the cash open today prices ground & ground & ground lower. It looks like three waves lower and so - at this point - being around the 1.382 mark as far as closes go, it might be the b-3 wave of a flat. 

I'm not sure, but I am again neutral (after being negative) until I see more. Neutral means I'm looking to the ES 30-minute intraday chart for clues. Certainly, lower lows would tilt the odds to the down side again.

Have an excellent start to the evening.

TraderJoe

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14 comments:

  1. GreywaverSeptember 14, 2021 at 10:46 PM

    Courtesy of SentimenTrader (screenshot from vid) -

    https://www.mediafire.com/view/b5zstrmvbff6reu/Spread20.PNG/file

    ReplyDelete
  2. GreywaverSeptember 15, 2021 at 8:48 AM

    SPY (wkly) - alerts strengthening -

    https://www.mediafire.com/view/7a9k3fdrwmoto16/spyw.PNG/file

    ReplyDelete
  3. Elliott_TraderSeptember 15, 2021 at 9:25 AM

    Good morning all. Here is the ES 30-min intraday wave counting screen, with updated daily pivot points (classic calculation) and recent local fractals.

    https://www.tradingview.com/x/cRNryi6z/

    Yes, there is the presence of a diagonal in the overnight.

    TJ

    ReplyDelete
    Replies
    1. Elliott_TraderSeptember 15, 2021 at 9:40 AM

      First down (red) fractal back has been exceeded lower.
      TJ

      Delete
    2. Elliott_TraderSeptember 15, 2021 at 10:05 AM

      Now .. first up (green) fractal back exceeded higher.
      TJ

      Delete
  4. GreywaverSeptember 15, 2021 at 11:17 AM

    SPY (60m) - update

    https://www.mediafire.com/view/7jphcw4aoo2mkr9/spy60m.PNG/file

    ReplyDelete
  5. Elliott_TraderSeptember 15, 2021 at 12:19 PM

    SPY 5-min: here are some measurements on this 'potential' diagonal. Let's see if the higher high is made or not.

    https://www.tradingview.com/x/tw752ox1/

    TJ

    ReplyDelete
    Replies
    1. Elliott_TraderSeptember 15, 2021 at 12:24 PM

      ES & SPY have the higher high.
      TJ

      Delete
    2. Elliott_TraderSeptember 15, 2021 at 1:07 PM

      SPY & ES: Completed diagonal converts to impulse.

      https://www.tradingview.com/x/8qBoa16q/

      TJ

      Delete
    3. GreywaverSeptember 15, 2021 at 1:37 PM

      Could an alternate be an abc up with b as triangle?

      Delete
    4. Elliott_TraderSeptember 15, 2021 at 1:49 PM

      Yes, as a w-x-y wave up.
      TJ

      Delete
  6. Elliott_TraderSeptember 15, 2021 at 1:54 PM

    Here's an update on the SPY 30-min. Price has come back to touch an upper parallel. It counts as a-b-c up or w-x-y, up. Either way it's back to the 38.2% Fibo level. Nothing says the wave is done yet.

    https://www.tradingview.com/x/XCbPS8pj/

    TJ

    ReplyDelete
  7. wizard29September 15, 2021 at 5:07 PM

    If your 'C' rebound fools around for a few days in the 4480-4500 range and then peters out, we will have a very nice H&S top in the S&P500 centered on Sep 2. The S&P400 (Midcap) would need a heroic rally to make a strong right shoulder. I don't believe that's in the cards.

    ReplyDelete
  8. Elliott_TraderSeptember 15, 2021 at 5:09 PM

    There is a new post started for the next day.
    TJ

    ReplyDelete

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