See ES 1 Hr chart below. Futures were much higher overnight on the "first-of-the-month money". But none of this shows up in the cash market.
With the MACD on a peak, and cash not open, it is wise to see what cash does before drawing a conclusion.
Have a good start to the day.
TraderJoe
Thanks TJ. All this rally is mostly tech driven. If possible can you post a long term view/chart on NVDA. I didn't find anything in archives.
ReplyDelete@manu .. here is my long term view, but by now - if you have been reading me, and only paying attention to the way this site counts waves - you should be able to contribute to this site.
Deletehttps://www.tradingview.com/x/HOgdbsqM/
Can you take it from (4) of ③? Post your results. If not, then further questions will not be answered.
TJ
Thanks Tj. Not a techie but can try as your student.
DeleteThe stock made a high in Nov 2021-$330(intermediate 3) and low in Oct 2022-$113(major 4) and now major 5 on the way completing Primary 3. I am unable to calculate how many times of major 1 is major 5 but major 5 is nearing to 3 times of major 3(329-32=298×3 =894 plus major 4 law of 113=$1007.
Also, how to search your archives? This is not ew question:)
*major 3
DeleteA response like this would be preferred, showing that you understand The Eight-Fold-Path Method. The Eight-Fold-Path Method is the Featured Post in the upper right-hand-corner of the main blog page.
Deletehttps://www.tradingview.com/x/HAT9LtqW/
But I am glad you answered in any event.
TJ
Thanks Tj. You are a strict teacher and I am a lazy student 😴
DeletePrice is the sternest master. TJ.
DeleteThis comment has been removed by the author.
ReplyDelete@wiz29; this is not a place for trading or investment recommendations. You simply do not know whether such a set of actions is suitable for manu or anyone else. So Please honor the intent of this site - which is wave counting and NOT recommendations/advice. Any further such comments of this type from you will be removed. TJ.
DeleteES 1-Hr: all key up waves have been overlapped downward. IF price does not go below the low, then an ending diagonal can be considered. We're not there yet. TJ.
ReplyDeleteHere is a chart update showing the last overlap. (Chart is behind about 10 min, as usual).
Deletehttps://www.tradingview.com/x/IlGAKhXD/
TJ
Wondering if the potential 2 4 trend line a reliable potential target at all degrees of trend. Very tricky nailing the end of correction in my wave counting!
ReplyDeleteI could wish it were so, but triangles & diagonals break, recapture and re-break such trend lines to make life more difficult. TJ.
DeleteTell me about it! Sure seems like triangles and diagonals now dominate the wave patterns.
DeleteI am counting a 3rd down today so it appears current correction beginning with a 5, IF we get a 4th and 5th down. We likely endure another agonizing triangle after, lol!
ReplyDeleteES trying the same old trick on the 8hr, trying to recapture the channel.
ReplyDeleteBTF dippers! 😊
DeleteOne of these times it wont work and should get a 3 down but I am aware of the definition of insanity. :)
DeleteUnity (weekly) idea - https://imgbb.host/QzyVp
ReplyDeleteAll I can say is up to this point, the 8hr only had wicks under the channel.
ReplyDeleteDJI Cash - 30 min: Just fyi - Dow cash and futures have five non-overlapping waves down. ES is not there yet.
ReplyDeletehttps://www.tradingview.com/x/fFGYTUoH/
TJ
I noticed the Russell 2000 has 5 down as well. I wonder is the SPX / DJI will fill the gap from tuesday first.
DeleteTJ, If this gold wave gets to long, any objection to a barrier triangle on the weekly?
ReplyDeleteSee comments on the chart. I'm agnostic whether Primary ⑤ (purple count) or Primary Ⓑ (red count).
Deletehttps://www.tradingview.com/x/ffvQ55Yh/
One would need to think that a Primary Ⓑ would need to top close to this area or else a very large Primary degree triangle is being built, rather than a flat. At this time there are no good down waves to count off of. So, it is difficult to be of more help than this.
TJ
Thanks for the response. I was thinking maybe this was the cause for the smackdown at 2100 four times.
Deletehttps://imgur.com/oGz8gjo
yep, I get it, but the proportions are not very triangle-like. Usually triangle proportions are 62- 78%. TJ.
DeleteEverything including the ZB1 bond contract topped April 1st. Did the Bond bottom yesterday or today in 1 down? Just wondering.
ReplyDeleteI'm showing a daily ZB1! top back in December. I'd urge you to be ultra-cautious if you're thinking a wave 1 was made today or yesterday, given the lead-in to your comment.
Deletehttps://www.tradingview.com/x/eobPa7sa/
TJ
Thanks TJ, it could test that lower TL.
ReplyDeleteNot 100% EW related but this would seem to corroborate that we are "late cycle" and in the ending primary degree wave. https://pbs.twimg.com/media/GJd5FKvWQAAEBVL?format=png&name=large
ReplyDeleteSPY 30-min: technically there are still two open gaps.
ReplyDeletehttps://www.tradingview.com/x/VcAfy47K/
TJ
SPY 30-min: gap on the left has now closed. Price down to lower parallel.
Deletehttps://www.tradingview.com/x/8EO9IEB8/
TJ
SPY 30-min: today's opening gap now closed.
Deletehttps://www.tradingview.com/x/grx6kFfR/
TJ
SPY 30-min: now has the full-on outside reversal. Let's see how she closes. Be cognizant of the 18-day SMA.
Deletehttps://www.tradingview.com/x/kOUar7BV/
TJ
Dive in SPX has coincided with spike in VIX from 13.75 to 16. Maybe factoring in growing odds of wider Middle East conflict.
DeleteMore likely herd realization that idle chatter about rate cuts are just that...idle...lol!
DeleteA new post is started for the next day.
ReplyDeleteTJ