I was examining some alternative counts, and I ran into this anomaly or oddity. The Neely 0 - ii guideline has been able to be used for nearly all prior waves. It certainly even works in the initial wave sequence in this series. So, I thought I'd check in what might be the continuing Minor A wave as an alternate to the Minor B wave down. Clearly, one can see that the guideline is broken. And it would break at several of the lower troughs on the close-only chart. So, something is odd.
We appear to be in a fourth wave or B based on the Awesome Oscillator (AO or EWO). I'm going to be noodling this situation a bit. Again. Something seems odd. Ideas are welcome.
Have an excellent rest of the weekend.
TraderJoe
ABC of a diagonal?
ReplyDeleteI was thinking of a three-wave sequence, but that would seem to imply a deeper retrace and 'currently' the market is having a problem making a 23.6%. Still I will say it is possible. I'm not assuming either 'up' or 'down' movement at this time although 'leaning' to completion of the expanding diagonal, downward, on the hourly ES chart. TJ.
DeleteIf this break to upside then this correction is just a 4 of the last move up from the August low. https://www.tradingview.com/x/DhxBhfNb/
ReplyDeleteIf breaks to down side then the bigger 4th
Delete...but still doesn't answer the puzzle from April. TJ.
DeleteTJ, if you place an a and b where circle 1 and circle 2 are, would c be impossibly long?
ReplyDeleteA final squeeze up makes the most sense but I expect a fall to trap shorts first.
ReplyDeleteWhy do supposedly intelligent financial analysts repeatedly insist in headlines that Trump's spastic, incoherent, flailing on the matter of trade tariffs has anything to do with anything and should be taken seriously. This is an idiotic attempt at market manipulation, pure and simple. Watch the inevitable denouement. Would not be surprised if other indices join small caps in new ATH...
ReplyDeleteA trillion doesn't buy what it use to!
DeleteLol! Ain't that the truth! Speaking of the T word, you see the side of those down day candles? An awful lot of players heading for the exits on this terminal wave higher.
DeleteAssuming a failed 5th, daily chart starting to look like a huge flat. An irregular flat "could" notch a new ATH and still be corrective. Chaos rules! 😊
ReplyDeleteWould this be considered a triangle breakout..d and e would be extremely small in size? https://www.tradingview.com/x/nKvsPlDw/
ReplyDeleteSpeaking of tri's, could this be Large 4 as ABC, leading with Rare Earth Fri for A down, now e up of Expanding Tri B up? C down to retest 200 dma around the bend? My work gives this decent odds of working out.
ReplyDeleteES/SPY (CFD) 4-hr: now a 90% up wave. Either 'b' wave of flat or next impulse.
ReplyDeletehttps://www.tradingview.com/x/GXOa0vyB/
TJ
Looks like an expanded flat underway as a new high a foregone conclusion IMHO...
ReplyDeleteVery difficult markets for last 1 year for any long term ew count to be correct. It seems the capital gain tax on spx companies is the only income US govt. has to pay the interest on debt. They will not let the markets correct. Just small dips as TACO trade is on.
ReplyDelete