Tuesday, December 14, 2021

Bias Shifts to Down

Yesterday was an outside day down for the ES futures. Today was a follow-through day and the close is likely to be under the 18-day SMA.

ES Futures - Daily - Follow Through

The daily slow stochastic is in over-bought territory and tomorrow is the FED report day.

Have a good evening.

TraderJoe

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19 comments:

  1. marcDecember 14, 2021 at 7:34 PM

    Joe thanks
    Of spx cash gaps up
    It will have an island reversal
    Did that carry why weight for your analysis

    ReplyDelete
  2. GreywaverDecember 14, 2021 at 8:33 PM

    Gold (wkly) - poss. alternate

    https://www.mediafire.com/view/8veicsrc03q9r0n/GoldAlt.PNG/file

    ReplyDelete
    Replies
    1. Elliott_TraderDecember 14, 2021 at 10:25 PM

      You are becoming much better at this wave thing, so keep it up. It makes me glad to see it. I will only offer that it is less typical to see a triangle after a diagonal because each structure is made of three-wave sequences, and that would be poor alternation.

      TJ

      Delete
  3. TimHDecember 14, 2021 at 9:35 PM

    https://schrts.co/tZedIzdv

    $TNX- this moving average has been resistance.

    ReplyDelete
  4. BBRiderDecember 15, 2021 at 8:40 AM

    Has the right look.

    https://imgur.com/xDNyqu2

    ReplyDelete
  5. Elliott_TraderDecember 15, 2021 at 11:06 AM

    SPY 15-min: larger channel.

    https://www.tradingview.com/x/PuUy7xSG/

    TJ

    ReplyDelete
  6. Elliott_TraderDecember 15, 2021 at 11:09 AM

    SPY 3-min: smaller channels.

    https://www.tradingview.com/x/0NZTFpEH/

    TJ

    ReplyDelete
    Replies
    1. Elliott_TraderDecember 15, 2021 at 11:33 AM

      SPY 3-min: this morning's 10 AM low has been exceeded lower.

      https://www.tradingview.com/x/4HrkX8ee/

      TJ

      Delete
  7. 458africanDecember 15, 2021 at 11:44 AM

    A look at a Magee & Edwards chart analysis. A Diamond top is in place or a H & S pattern with a high right shoulder. Even though the 9 wave initial decline is anything but text book EWT,this market has been fueled by lesser and lesser stocks. The last rise has been led by maybe 10 stock out of 500.
    Whatever the FED does today will not matter in the end,except to pop their insane bubble and monetary policy. AS always things as far as Mr. Market can change. IMHO
    https://i.postimg.cc/h4w4rQKT/Screenshot-36.png

    ReplyDelete
    Replies
    1. 458africanDecember 15, 2021 at 4:08 PM

      No longer a diamond for the bears a complex top or a broadening pattern with a 5a and 5b topping short squeeze. Should reverse down in the early morning if they can keep the German Dax up that long. YMMV IMHO

      Delete
    2. Roberto MattheusDecember 15, 2021 at 5:58 PM

      After today it looks like a triple combo with a Z coming lower into next week. Then I guess another final leg up for Santa to deliver coal to shorts. 🎅

      Delete
  8. 458africanDecember 15, 2021 at 11:58 AM

    I don't know of any other way to look at this considering the full 5 wave advance into this top. Been wrong before and who hasn't?
    https://i.postimg.cc/tTcKbPTj/Screenshot-37.png

    ReplyDelete
  9. Elliott_TraderDecember 15, 2021 at 12:05 PM

    SPY 3-min: now bumping on short-term channel. Watch it closely as it might rule out a further third wave down (making the down count only a-b-c).

    https://www.tradingview.com/x/ZDp9eIgv/

    TJ

    ReplyDelete
  10. GreywaverDecember 15, 2021 at 12:45 PM

    An aside (if interested) WEAT (dly) - 3PDh (click to sharpen)

    https://www.mediafire.com/view/cz84qwepv9ui3ts/Weat.PNG/file

    ReplyDelete
  11. Elliott_TraderDecember 15, 2021 at 1:16 PM

    Reminder: FED report out at top of the hour.

    TJ

    ReplyDelete
  12. GreywaverDecember 15, 2021 at 2:15 PM

    Gold (4hr) 3PDh full retrace -

    https://www.mediafire.com/view/aicag8topeb8kv7/FullRetrace.PNG/file

    ReplyDelete
  13. TachyonDecember 15, 2021 at 3:36 PM

    Looks like "Sound & Fury" to me. Powell is both clever AND foolish, lol!

    ReplyDelete
  14. Elliott_TraderDecember 15, 2021 at 9:43 PM

    A new post is started for the next day.
    TJ

    ReplyDelete

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