Monday, November 28, 2022

Driving Miss Crazy - 5

This SPY 30-min chart looks at this last wave sequence upward to see if will count as a clean "five". There does appear to be alternation in cash. And cash does not overlap, yet.


The sequence appears to start with an expanding diagonal in cash, so wave ((5)), up, should be an impulse.

Have a good start to the day and to the week.

TraderJoe

9 comments:

  1. Be careful. Someone may be 'trolling' this site purposely to 'bust' trades. The 'instant' the chart above was posted, someone with size created the downward overlap and reversed. I wouldn't put it past anyone out there to do it.

    TJ

    ReplyDelete
    Replies
    1. Absolutely and it is nothing new. The assault on "probable" EW counts has been going on for quite sometime and I suspect every alert trader is keenly aware of the phenomenon and trades accordingly. Really appreciate your pointing that out T.J.

      Delete
  2. Fascinating precise tag of top of SPY gap from 11/21 @ 395.11!

    ReplyDelete
  3. Vix is near low from August but hasn't broken out higher yet.

    ReplyDelete
  4. As far as I can tell, if SPY makes a lower low this morning, then we get an impulse down.

    https://www.tradingview.com/x/Vrn8dCrU/

    TJ

    ReplyDelete
    Replies
    1. There is the SPY new low. A better impulse is countable down than up.

      https://www.tradingview.com/x/6miHd9rh/

      TJ

      Delete
    2. SPY Cash now has the prior gap filled.

      https://www.tradingview.com/x/OTRJypC5/

      TJ

      Delete
  5. Gold update.
    https://imgur.com/Hcl5dez

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

    ReplyDelete