IFF we are making a Minor B wave, up, after three-waves-down to a Minor A wave at the 1 Oct low, then this one fits the bill on the ES 4 Hr chart, below.
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| ES Futures - 4 Hr - Minor B |
The relationship would be Minute ((c)) = 1.618 x Minute ((a)), with Minute ((a)) as the expanding leading diagonal. The clear alternate is shown below the price on the red line.
And, here is how the last wave up was counted out today on the ES 30-minute chart.
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| ES Futures - 30 min - Wave (v) Up |
Today's up wave - after the initial drop - should it hold tonight, would be one of the first to hold below a 0.618 close on the retrace up. The low of wave iv has already been broken in the above chart, and wave iv is a triangle or a failed combination - difficult to discern.
Have a good start to the evening.
TraderJoe
Thanks. Hope you're correct. It would be nice to try a "C" wave for a change. :o)
ReplyDeleteSPY 30m - day's end -
https://www.mediafire.com/view/7cd203ys2xspavm/spy30done.PNG/file
I learned long ago: only the market is right. I try not to personalize it.
DeleteTJ
Lol! Ain't that the truth.
DeleteMr. Mr. Market really hurt my feelings my not tagging 4600 like he was 'posed to! 😊
👍 thanks
ReplyDeletehttps://schrts.co/jwdZcrak
ReplyDeleteSPX - at new highs with fewer stocks above the 50 dma. That usually doesn’t end well.
The new high in the A/D line is a mystery. If you actually look at the individual index components, and consider component weightings, clearly the new highs are coming in narrowing breadth. Volume has been declining for years so I tend to discount its significance but the A/D data is peculiar imho...
DeleteTim H. It is rude of you to ask me to visit other paid/donated sites and offer my opinion. I won't do it, nor will I post their links.
DeleteTJ
SPY looks like declining volume all month.
ReplyDeleteThanks TJ and GW:
ReplyDeleteIt looks like near perfect doji's were made today in ES, YM and NQ daily charts (TradeStation). Also, the high in the NQ (15701) didn't get much boost from buy stops standing above the 9/7/2021 high of 15699.75. The market is saying something (is changing?) when such a leader fails to follow through on a breakout like the ES and YM.
GDX,SIL,COPX,URA - a bit of perspective - [if interested]
ReplyDeletehttps://www.mediafire.com/view/bzmwt2vxqikow3s/From_2016_lows.PNG/file
https://www.mediafire.com/view/q3ltihko8jsiz0n/From_mid_March_2020_lows.PNG/file
Stocks above 50ma - current
ReplyDeletehttps://www.mediafire.com/view/znpvk8fipnmemts/stocks_above.PNG/file
SPY 5-min; although many newb's will try to count this as a series of one,two's lower, the down move is too slow (takes too many bars); suggested we are still in a complex wave ii.
ReplyDeletehttps://www.tradingview.com/x/mGLE3tpG/
TJ
SPY 5-min: here is the expected break 'up' of the candles. not down just yet.
Deletehttps://www.tradingview.com/x/Xdc1kacV/
TJ
SPY (30m) - current
ReplyDeletehttps://www.mediafire.com/view/wrtbwmwa4ju4fmt/30SPY.PNG/file
Price turned at upper OR/falling parallel. Has now broken below lower OR.
DeleteSPY / ES lower low on the day. In terms of timing, watch out for a whippy move. This could be diagonal.
ReplyDeleteTJ
..this is awful crud to count, yet again. 'Might be' a diagonal but has to prove itself.
Deletehttps://www.tradingview.com/x/kwKCqmyv/
TJ
This way works for now. As the wave lengths for a diagonal in cash are not correct.
Deletehttps://www.tradingview.com/x/afp6uKU5/
TJ
Spy 1 min I hope this link works I did in real time in about 10 min quickly while at work https://www.tradingview.com/x/k0zn4nYO/
ReplyDeleteA new post is started for the next day.
ReplyDeleteTJ