Wednesday, September 13, 2023

Plausible Hourly

Especially if there is a lower low tomorrow (PPI report?), then this hourly count on just the front month contract, now, which is December on the ES, is plausible. (Hint: do not use the roll-over data as it skews the proportions). Note in this version there are no upward overlaps.


Obviously, flexibility, calm and patience are needed as the market-makers try to stall and confuse. Let's see how things go.

Have a good start to the evening,

TraderJoe

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14 comments:

  1. manuSeptember 13, 2023 at 9:30 PM

    Thanks Tj.

    Some swings coming both sides for 2 days.
    es fut expiry and https://www.cnbc.com/2023/09/13/arm-prices-ipo-at-51-per-share.html

    ReplyDelete
  2. AnanyavratSeptember 14, 2023 at 8:46 AM

    Last week Tj,
    Expected some acceleration in selling.
    Is that count still valid?

    ReplyDelete
    Replies
    1. TJSeptember 14, 2023 at 9:44 AM

      The folks who know more than I do say that the market is designed to cause maximum pain. If everyone is expecting a sell off, it will do the opposite.

      Delete
    2. Elliott_TraderSeptember 14, 2023 at 10:04 AM

      See the post @ 10:04 am, and still have calm, patience and flexibility. TJ.

      Delete
  3. MattIAmSeptember 14, 2023 at 8:50 AM

    Excellent analysis, thank you. I am an avid reader and learner. Though often my ability to post comments does not seem to work (I'm sure it's on my side). Thanks

    ReplyDelete
  4. Elliott_TraderSeptember 14, 2023 at 10:04 AM

    Here is the best count at this time. Nothing doing until the lower parallel is broken.

    https://www.tradingview.com/x/YGM6bxyS/

    TJ

    ReplyDelete
    Replies
    1. Elliott_TraderSeptember 14, 2023 at 10:05 AM

      This morning was "open a gap to close a gap". The gap on the left is now closed. The gap on the right is open at this time. TJ.

      Delete
    2. Elliott_TraderSeptember 14, 2023 at 10:07 AM

      P.S. The upward price movement still 'looks' corrective and overlapping. TJ.

      Delete
  5. Elliott_TraderSeptember 14, 2023 at 1:18 PM

    SPY 30-min: progress, so far.

    https://www.tradingview.com/x/8v1sXmhh/

    TJ

    ReplyDelete
  6. AnanyavratSeptember 14, 2023 at 2:03 PM

    Breakout on us dollar index
    Instead of up 40 spx
    Should be down atleast 40 spx
    But markets know best!

    ReplyDelete
  7. Elliott_TraderSeptember 14, 2023 at 2:18 PM

    SPY 30-min: this morning's upward wave (shown) is all overlapping, too. So a downward overlap warning has been added.

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

    If it takes off lower, it is likely to be a doozy (a technical EW term, lol) so be cautious, patient and flexible.
    TJ

    ReplyDelete
  8. Elliott_TraderSeptember 14, 2023 at 9:56 PM

    A new post is started for the next day.
    TJ

    ReplyDelete

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