Because today 'can' be currently counted as 'five-waves-down', there is some probability that, contrary to the 8,000 hype, the upward count is over. Note, this count, the truncation count, still requires better confirmation, but it should receive serious consideration because of the sloppy upward progress of the last several sessions.
The count is shown here in the ES rollover contract, but cash would be similar. There is no reason that a throw-over of the upper wedge is required, and those who think this must happen might be abandoned by price. The RSI hasn't quite broken a larger trend line from late July, yet. But it could.
We will have to wait and watch for both that and further confirmation signals in upcoming days.
Have an excellent rest of the day and start to the evening,
TraderJoe
Thanks Tj.
ReplyDeleteInfact Anthropic's annualized revenue run rate (ARR) was to be released today which has not. Your chart fits everything.
I think es and nq daily gap closed.
ReplyDeleteES Daily - lower lows this morning continue the swing-line trend lower; and possibly place the 100-MA and the lower band in play (until/unless there is an outside reversal day).
ReplyDeletehttps://www.tradingview.com/x/AI6yrw5B/
TJ
..now five non-overlapping waves up since the morning low. TJ.
DeleteThe dithering in DJIA and SPX in following the NDX take out of the end of Srptember lows a market maker's nightmare...time lapse photography...?
ReplyDeleteOpex is tomorrow, they are playing their games, banking some premiums no doubt, but with tech on its way, the rest will surely follow soon.
DeleteSPX500 (CFD) 5-min: best as I can tell, price is into the fifth wave up of an impulse, since the morning low. It was a long-in-time ④th wave.
ReplyDeletehttps://www.tradingview.com/x/MQiH6bjy/
TJ
..and, of course, downward overlap within ⑤. TJ.
Delete..looks weaker than it should be; maybe it will form an extremely large flat; or maybe it's cooked as a w-x-y. TJ
Delete..there's the higher high - likely as an overlapping fifth wave expanding diagonal. TJ.
Delete...double-bottom to the tic- in the diagonal, if that's what it is.
Deletehttps://www.tradingview.com/x/gUlBCZEF/
It 'could' also be a "running flat" as a very large fourth wave. Either way, there was a higher high.
TJ
A new post is started for the next day.
ReplyDeleteTJ