It's not for sure yet, but the A wave may have survived the current count by 2 pts in the ES futures. Here is the chart.
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| ES Futures - 8 Hr - A Wave Possible |
The overnight high was 4824.25, and the max is 4826.25 based on this chart. It looks like there would be a gap down at the open, but that needs to be monitored. If the count busts, we'll switch to the alternate red count shown in the prior post. As always with a trending move, confirmation of a change in count should be sought. In this case, at minimum five-waves down and a retrace that does not go over the high would be only a first step.
Have an excellent start to the day.
TraderJoe
ES 5-min: as far as I can tell, the ES overnight did make 'five-waves-down' with 110 candles on the chart.
ReplyDeletehttps://www.tradingview.com/x/vBJwuj6D/
Problem is, given how long the wave took to form, it might spend all-day, or almost all day consolidating.
TJ
ES price did go over the high. The five waves had to be the last 'c' of a flat wave, and the red count in now in effect. TJ.
DeleteSo alternate red count could also be a, b, c until it's not? If it is a, b, and now c, it could be all of (Y)?
DeleteWhat do you think about following count: In your above chart 1,2,3 might be a, b, c of A of (Y), 3 to for 4 as B of (Y), right now impulsive C...
DeleteSee 2:53 pm, below. TJ.
DeleteSPX 1-hr: target for widest width of triangle met. Now, low of morning exceeded lower. More in a bit.
ReplyDeletehttps://www.tradingview.com/x/EtgiBOLQ/
TJ
SPX 2-Hr: the higher RSI on the right, the Principle of Equivalence, and the initial trend line break say to count like this for now. Both counts are equivalent until something can be shown by way of overlap.
ReplyDeletehttps://www.tradingview.com/x/fwDNH4x5/
TJ
Just an fyi - prior wave ③ of 3/C has now been overlapped downward. Not fatal - just info. Some big players might be looking for an entry. TJ.
DeleteThanks TJ but totally confused. Is it the red count which has iv and v for ATH or C done of Y. Is it possible that I count all this wave up in Dow as B and structure abc of Y in SPX as per your chart from last post. does all the indices need to hav ethe same count ?
Deletei was using slightly different measurements check it oiy
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ReplyDeleteMarket up with more Fed money. https://fred.stlouisfed.org/series/H41RESPPALDKNWW#0
ReplyDeleteSPY 5-min: intraday (very short term). So far, all we can identify are: 1) an opening gap up, 2) a 'possible' Flat, with the five-waves down 'maybe' as the 'c' wave of that flat, 3) a bullish engulfing, 4) sloppy sideways price action, and 5) very low volume.
ReplyDeletehttps://www.tradingview.com/x/TDu6qJsH/
'Maybe' a zigzag up is forming. Maybe a triangle is forming.
TJ
Now a likely diagonal has formed which means monitor the prior low.
Deletehttps://www.tradingview.com/x/RsYEPZ8V/
TJ
SPY's price has now confirmed the second diagonal as leading.
Deletehttps://www.tradingview.com/x/MkpN5auI/
TJ
SPY 5-min: now flipping the Fibo ruler around, up to 78.6% and a smidge.
Deletehttps://www.tradingview.com/x/v7fkaGYt/
TJ
SPY 5-min: with price above the 100% level, we should now conclude like this. The larger Flat was real. The five-waves-down to 78.6% was the c-5 wave of that flat. It's a nice trap for the bears if they didn't notice it could be part of a Flat.
Deletehttps://www.tradingview.com/x/Zjy4F6m6/
We have no reason to conclude the up wave is over until/unless there is downward overlap on wave ① of (c), up.
TJ
tj do you see yesterday's low as flat b and today was all c up still working up...spx. thks
ReplyDeletethat's an alternate for me. I think it - yesterday's low - could be all of a fourth wave or part of a triangle fourth wave. I can't be certain yet. Please see the next day's post for more information. TJ.
DeleteA new post is started for the next day.
ReplyDeleteTJ