With a follow-on to the weekend post, the smaller wedge in the ES 4-Hr chart is still in play. And there is clear downward overlap again. Price came down to support from two levels of trend lines.
Let's see if there is downside follow-through.
Have an excellent rest of the day.
TraderJoe
SPY (cash) 30-min; now that the previous 4/b is exceeded lower it's a fair guess the prior up wave is over.
ReplyDeletehttps://www.tradingview.com/x/pPoqBLrh/
TJ
This completion seems like the 3rd wave of c (started April 21). 5th to come. This will reconcile with future which have made a LD as an A from the start. The move up will be the thrust after LD. Let's see of if this situation plays out
ReplyDeleteEveryone expects higher transports got crushed today and many times they lead up or down
DeleteX1 impulse from 4/21 on ES?
ReplyDeleteDJIA seems ready to finally fill that open overhead gap....I was starting to wonder....
ReplyDeleteSPY / ES (CFD) including overnight likely diagonal off of the high; now into retrace.
ReplyDeletehttps://www.tradingview.com/x/mAkAgeFz/
TJ
Now likely five-waves-up off of the low.
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TJ
ES 5-min: the diagonal was a :5, by itself; the added leg down made it 5-3-5 which made it a larger :3, as below.
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Then, there 'appears' to be a diagonal at the high, and I just have to 'remain open' as to whether the up wave is a :3 or a :5. There are ways to count both, though the :3 has a 'slight' edge in the odds.
TJ
Your 3 is smaller than 5
DeleteIn cash. I was looking at cash
ReplyDeleteTJ, can both 5 and fifth wave of 5 truncate? So that 3 is greater in price than fifth wave of 5 -and- third wave of 5 is greater in price than 5? (Not necessarily that the third of wave of 5 is higher than 3 itself...either or)
ReplyDeleteToday could have been 5 of X1 wave since 4/21.
ReplyDeleteA new post is started for the next day.
ReplyDeleteTJ