So, right on. The YouTubers and Twitter'ers (X'ers?) want you to Like & Subscribe (..and donate!!??) so they can make money off of you. It's my preference people just learn the wave counting rules and struggle a little bit so they are forced to develop the wave-counting muscles for themselves. Here is the ES 4-hr chart.
Again, we haven't even come down to the 4-Hr channel yet, let alone the daily channel. Hopefully, we will at some point as the EWO with 118 candles on this time-frame has come back down to within the needed +10% to -40%, touching the zero line today. Still the count above says some type of alternation may be seen yet. That means it is 'possible' to go over the high again. The location of the overlap warning has been provided.
The odds of a interim top are going to bounce-around here a bit as the market works through its topping process.
The daily ES futures made a small outside day up and this rescued the daily slow stochastic on that index from losing its embedded status. So, this, too says a new local high is possible.
Have an excellent start to the evening and the week.
TraderJoe
ES 1-Hr: previous futures gap on the upside now closed. TJ.
ReplyDeleteSPY 15-min: with gap fill (on the left-side) and 78.6% attained, can get triangle or go on higher for flat. Just be careful, calm, patient and flexible.
ReplyDeletehttps://www.tradingview.com/x/OpFoDeem/
TJ
SPY 30-min: now hits 90% retrace and can qualify for b-3 wave of flat or (later) expanded flat for alternation.
ReplyDeletehttps://www.tradingview.com/x/DGzHwua9/
TJ
SPY just over the high by 0.01; can go further if it wants. TJ.
DeleteA new post is started for the next day.
ReplyDeleteTJ