In working on the minuet (w), (x), (y) count to the minute ((ii)) wave shown in the prior post, the current up wave in the cash does not seem to have impulsive characteristics, overall. (Others may be attempting to count it impulsively.) Here is the SPY 30-min cash chart.
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| SPY Cash - 30 min - Zigzag So Far |
The reasons for the lack of impulsion at present are 1) the very shallow and truncated travel of the b wave seems very atypical of a second wave, 2) There is no wave that currently breaks above a base channel that would have been formed by i and ii if they were to replace a and b, 3) the RSI really didn't go to a high level of over-bought in the wave, and 4) there is only a c = a length relationship at this time.
Let's see how things go on Monday/Tuesday.
Comments have resumed as of today for Elliott-wave related posts.
TraderJoe
Potential DXY count - https://cdn.discordapp.com/attachments/978828294034190366/995758748758974515/Screen_Shot_2022-07-10_at_1.27.10_PM.png
ReplyDeleteI don't know why the formatting gets messed up. This would coincide with more pain in equities.
DeleteI think you might be missing a larger weekly (W), (X), (Y) in the Usd including overlap. TJ.
DeleteSPY 30m -
ReplyDeletehttps://www.mediafire.com/view/rvocsrmhbbygm39/hidden.PNG/file
Yes. I think whole bottom is an (x). Good work. TJ.
Deleteanyone seeing this. https://tvc-invdn-com.investing.com/data/tvc_7abc1ee0fd197502abb3778e77a3fe91.png
ReplyDeleteJapan to maintain easy money bias rather than fight inflation
ReplyDeleteGov. Kuroda Speech
TJ
Good morning .. here's how the opening is starting out.
ReplyDeletehttps://www.tradingview.com/x/9vJvbqRQ/
TJ
SPY (0.5x3) - current
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_ac7f8beebe51ee58ef78a34fe4e035b6.png
SPY cash 30-min: overlap warning activated.
ReplyDeletehttps://www.tradingview.com/x/5qZtQRMJ/
TJ