While the NQ (NASDAQ 100) futures and the RTY (Russell 2000) futures made lower low days, the YM (Dow) futures and the ES (S&P500) futures did not. We'll have to wait and see if that will happen in the overnight or tomorrow.
Have a good start to your evening,
TraderJoe
ES 30-min: here is the chart before the cash open. There has been one recent close below the lower band. Down (red) fractals have been broken.
ReplyDeletehttps://www.tradingview.com/x/gm1PWzAi/
The slow stochastic on this time frame is embedded. Price is below the 18-per and so the intraday bias is down. Cash will probably start with a significant gap.
TJ
There is now a new down (red) fractal at the low.
Deletehttps://www.tradingview.com/x/D2zjTwhu/
TJ
How do the divergent retrace depths of the indices inform, if at all, our expectation for a potential C wave downside target?
DeleteThe downside target in the ES was previously provided way back in September in this post:
Deletehttps://studyofcycles.blogspot.com/2022/09/just-providing-number.html
Nothing has changed. Each index is handled separately. People should do their own work on their index of interest. TJ.
Thanks! Was not sure if DJIA price action had implications for ES wrt expanding diagonal count. The price target cited in the expanded diagonal was close to one I was tracking in a H & S target.
DeleteES 30-min: a new up (green) fractal is valid on the 10 AM bar.
ReplyDeletehttps://www.tradingview.com/x/AqxSp1jQ/
TJ
Thanks TJ,
ReplyDeleteIs Es attempting to close gap around 4080-4100?
ES 1-Hr: can't swear to it. All I can say is the count matches the indicators, currently.
ReplyDeletehttps://www.tradingview.com/x/Nnm8pphz/
TJ
It's a count that also reflects the choppy nature of the decline, so far. TJ.
DeleteA new post is started for the next day.
ReplyDeleteTJ