Thursday, November 24, 2022

Driving Miss Crazy - 4

I'm personally not in love with any count. As I suggested in several posts & comments, a minute ((b)) wave count could be messy and full of trips & traps - especially in the light holiday volume. Here is one version on the ES 8-hr chart, which at least provides an upside target from typical technical analysis.


You could also see it as (w)-(x)-(y)-(x)-(z) and I would not say it was incorrect. However, as before, there is no downside count likely to be started until or unless the lower parallel trend line is broken, then back-tested and having the back-test fail.

Have a good rest of the holiday weekend.

TJ

7 comments:

  1. That really makes sense with the thrust and that wave marked d that was impossible to count.

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  2. thanksgiving surprise from China/AAPL

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  3. For better time proportionality, and a better chance at degree labeling, the form can also be considered like this. Either way, it looks like a 'c' wave to wrap up.

    https://www.tradingview.com/x/TBF9aYG0/

    TJ

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  4. Boy 10y3m is kinda worrisome. Hope everyone had a wonderful holiday! https://fred.stlouisfed.org/series/T10Y3M#0

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  5. Gold looks like another smaller flat.

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  6. A new post is started for the next day.
    TJ

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