The ES count is updated below on the 2-Hr chart. The triangle B wave is definitely possible. A 78.6% downward & upward set of waves were made today.
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| ES Futures - 2 Hr - Potential Expanding Diagonal |
The triangle looks weirder on the cash index as this morning's low was again missing some price excursion. If the triangle should prematurely break below the circle-a wave, then a down wave would have to be considered. We are not there yet. Triangles can do some strange things, so it is possible to travel below the circle-c wave marginally to make a better circle-c wave in cash.
The daily bias remains up. The daily slow stochastic remains embedded and the daily swing line trend is also still up.
Have a good start to the evening.
TraderJoe
Hi Tj,
ReplyDeleteWhat is the Triangle break level that confirms wave 5 done?
4138 ES is what I have for the A wave.
Delete@Anan.. 4,138 futures and 410 SPY cash. TJ.
DeleteWatching this but EWO does not agree.
ReplyDeletehttps://imgur.com/lfyf5UZ
More agreement with EWO
Deletehttps://imgur.com/MVH9hM8
Looking at how it is getting weaker in the ED, what if we got tricked. I think this has taken long enough time.
ReplyDeletehttps://imgur.com/syR46yZ
watching that VIX
ReplyDeletehttps://www.tradingview.com/x/8DW9RvWB/
SPY 30-min: I said in the write up, that cash yesterday would have had a very odd looking triangle, and today could make a marginal new low. So far, that is all that has happened. Could the triangle invalidate? It could. They 'always' can. But it hasn't yet in cash or futures.
ReplyDeletehttps://www.tradingview.com/x/nSCTHmUo/
We are temporarily in 'no man's land' awaiting invalidation or not. As such, it's pick-yer-poison or do nothing.
TJ
SPY 3-min can have 'five-waves-up' as a contracting diagonal. Over it might be 'leading'.
Deletehttps://www.tradingview.com/x/JfYZmweR/
TJ
Was gonna post the same on ES.
DeleteNice .. now we need to see if the low holds.
Deletehttps://www.tradingview.com/x/Ee3pWcby/
TJ
Thanks Tj,
DeleteHow come EU markets are making new highs in such no printing high inflation, high interest markets and US markets laging. Vix is round its 1 year low.
@manu .. no opinion. TJ.
DeleteSPY 3-min: now making higher highs.
ReplyDeletehttps://www.tradingview.com/x/zSlinalb/
TJ
Looking to me like we have a down-trend channel in the making. Absolutely nothing about this price action suggests a high degree 3rd down has begun but then again, this market is as wily as a fox...
ReplyDeleteAnd there in is the "love affair" with the markets.
DeleteSPY 30-min: more than half-way-back (hwb) and time to flip the Fibo ruler around.
ReplyDeletehttps://www.tradingview.com/x/jBzXSOvX/
TJ
SPY 5-min: the main count is in black. It is five waves up in a wedge with a new high in futures at 'a'. Cash SPY does not have the new high. The alternate is in red.
ReplyDeletehttps://www.tradingview.com/x/M4Ql5Tfq/
TJ
within pips of cash invalidation .. watch it closely. TJ.
Delete(From CNBC) UPDATED THU, APR 20 202312:16 PM EDT
ReplyDeleteSpaceX Starship rocket launches in historic test but explodes mid-flight
TJ
SPY cash - just invalidated the up wave with a lower low.
ReplyDeletehttps://www.tradingview.com/x/xi1hPULM/
a,b,c wins it.
TJ
ES futures, new low, as well. TJ.
ReplyDeleteES now below 4,138! TJ.
ReplyDeleteBot's heard you.
DeleteA new post is started for the next day.
ReplyDeleteTJ