Now likely back within the Minor A wave, this is a probabilistic stab at the local hourly wave count. The wave appears to be extended in time, which means it might be an extended fifth wave sequence. Even within it, retreats to the lower channel line are possible/probable, particularly with the FOMC magicians about to work their conjuring on Wednesday.
Good, stimulating discussion on the blog today. Look at the divergences on this puppy. No issues out there, right?
Have an excellent start to the evening,
TraderJoe
Makes a lot of sense to me. If the series gaps are heralding the completion of a wave, seems it would be at minor degree at the very least.
ReplyDeleteES 15-min: (Dec contract only): follow-up.
ReplyDeletehttps://www.tradingview.com/x/hpkQy5xj/
TJ
ES 30-min: from the intraday wave-counting-screen, now below yesterday's fourth wave low and likely into the larger fourth wave (iv), above. Also, down to the combination of the lower intraday band, the 100-per SMA, and the daily pivot.
ReplyDeletehttps://www.tradingview.com/x/t3Jk9TBH/
TJ
As intractable as this A wave has been, not looking forward to trying to count the upcoming B wave, likely to be even more so. Lol!
ReplyDeleteES 30-min: just an updated chart showing the better undercut of the prior level.
ReplyDeletehttps://www.tradingview.com/x/ZpOOFb02/
TJ
As per Kennedy channeling technique, base channel is broken.
ReplyDeletehttps://www.tradingview.com/x/1v3hXrcT/
..very good. Keep it up! TJ.
DeleteThanks TJ!
DeleteMr. Market executes these channel breaks with amusing regularity. Still counting a 4th wave consolidation ahead of a 5th up to co-incide with Fed speak.
ReplyDeletehere is another thing Mr. Market is doing with amusing regularity.
Deletehttps://www.tradingview.com/x/9SrqWSU9/
start out like consolidation, turn into expanding diagonal or triple-zz.
TJ
ES/SPY (CFD) 30-min: showing the same thing as the futures, with rejection at the 18-period and downward overlap.
ReplyDeletehttps://www.tradingview.com/x/uk1HvBDL/
TJ
A new post is started for the next day.
ReplyDeleteTJ