Monday, March 20, 2023

Local Count

The ES hourly chart is below. The channel count is the most apparent at this time. But be careful because y is slightly greater than w, and x2 is slightly greater than x1.

ES Futures - Hourly - Dzz & 'possible' TZZ

Note that the daily Bollinger Bands are constricting as anticipated and this may eventually set up a longer, more trending move.

Have a good start to the day and the week,
TJ


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9 comments:

  1. Mark ThimeschMarch 20, 2023 at 10:03 AM

    Just a reminder - FOMC this Wednesday

    ReplyDelete
  2. Elliott_TraderMarch 21, 2023 at 10:09 AM

    ES 1-Hr: chart update.

    https://www.tradingview.com/x/cJub7CtC/

    Watching to see if MACD divergence holds at the new high.
    TJ

    ReplyDelete
    Replies
    1. BBRiderMarch 21, 2023 at 10:26 AM

      Think there was a little ending expanding diagonal at the top.

      Delete
    2. grrMarch 21, 2023 at 11:02 AM

      Tj if you look at cash seems like LD instead of xyz

      Delete
    3. Elliott_TraderMarch 21, 2023 at 4:16 PM

      see below @ 4:13 pm. TJ.

      Delete
  3. RobertoMarch 21, 2023 at 3:36 PM

    spy and spx cash look like rising wedges, but nothing confirmed. "All clear" seems to be the overall word on the financial news.

    ReplyDelete
  4. Elliott_TraderMarch 21, 2023 at 4:13 PM

    As I cautioned in the post: each leg is now longer than the prior one (as zigzags), so there 'may be' a valid expanding diagonal in futures.

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

    TJ

    ReplyDelete
    Replies
    1. Elliott_TraderMarch 21, 2023 at 4:16 PM

      ..and cash 'might be' a contracting diagonal. The measurements of price would be correct. TJ.

      Delete
  5. Elliott_TraderMarch 21, 2023 at 4:37 PM

    A new post is started for the next day.
    TJ

    ReplyDelete

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