Wednesday, November 16, 2022

ES Inside Day

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

10 comments:

  1. 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.

    https://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

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    Replies
    1. There is now a new down (red) fractal at the low.

      https://www.tradingview.com/x/D2zjTwhu/

      TJ

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    2. How do the divergent retrace depths of the indices inform, if at all, our expectation for a potential C wave downside target?

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    3. The downside target in the ES was previously provided way back in September in this post:

      https://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.

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    4. 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.

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  2. ES 30-min: a new up (green) fractal is valid on the 10 AM bar.

    https://www.tradingview.com/x/AqxSp1jQ/

    TJ

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  3. Thanks TJ,

    Is Es attempting to close gap around 4080-4100?

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  4. ES 1-Hr: can't swear to it. All I can say is the count matches the indicators, currently.

    https://www.tradingview.com/x/Nnm8pphz/

    TJ

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    Replies
    1. It's a count that also reflects the choppy nature of the decline, so far. TJ.

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

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