This is my alternative count. My previous analysis was invalid because the bottom formation at 0.618 fib retracement. I thought it would go lower but I was wrong. In this case if the bottom at $3882 was in, I think the next the target could be $4500 in November. We have a midterm election this year. I would wait for a pull back and find an entry to go long.
I find it very interesting that my Cycle Patterns predicted the following more than 2 years in advance of this move.. 9-26: Breakdown 9-27: Harami/Inside 9-28: CRUSH 9-29: GAP Potential 9-30: Top Resistance 10-1: Consolidation 10-2: Temporary Bottom 10-3: Gap Reversal 10-4: Breakdown 10-5: BreakAway 10-6: Rally 10-7: Carryover 10-8: Bottom 10-9: N/A 10-10:...
This morning the SP Futures is coming into it's prior wave 4 of one lesser degree. I fully expect this advance to be halted in this area soon. However, the hourly chart is now clearly showing hidden bearish divergence off this rally from the lows of yesterday. For this HBD to be invalidated futures must trade above 3752. To the degree they do not , today...
In the overnight session of the ES Futures it appeared we would complete primary 3 down in the low to mid 3500 level. The ideal point I was looking for a primary wave 3 to end would be either 3555 to 3515 to even as low as 3495. When price bottomed at 3571 and subsequently rallied I though this may be a very large 1-2, i-ii, and we could extend to the lower...
This is for anyone so inclined to grab a quick hedge for our pending 80% Trade by May 2023 while the market is rallying into our Primary wave 4 territory. I am now short 5 ES October EOM 3950 calls at $18.75 for $4673 in premium. Its possible ES gets to as high at 3730. Best to all, Chris
ES looking for a good size rally as long 3600-11 holds We got expected gap up, now needs above the triangle. There could be another move lower into 3611-18 zone (ideally it was it after the open), should push to 3700+ from here into tomorrow. So far it hit 61.8 retracement from Sep 30th high, gotta be careful with sizing. Its not out of the woods yet, it will...
Let's see how this week starts. All stops < 3600 were taken. Perhaps run it back to take all stops > 3750? And then "bear market rally".
ES -WEEKLY - LOG Mode Wow what a week. Could it look any more bearish? This is an update with a intermediate term view. My opinion for the the path forward has not changed..... yet. It hinges on the the where the current corrective wave ends. I believe we are close if not already there with the completion of what I'm labeling a "b" wave see chart below. I am...
Monthly Chart is self explanatory showing the areas the bulls must defend! I went back to all previous bear markets to see how the "trending channel" and blue line played out and it has helped me to develop some key areas today that must be defended by the bulls. (NOTE: The trending channel was establish by taking the ATH, next low, then next lower high...I...
its hard to gage what type of broadening wedge formation it is, green bullish case, red bearish case. Monday/Tuesday should dictate. If bullish, next post is my idea into mid october & possibly into the holidays.
This still can chop chop till end of the day, but its getting close for a good squeeze. Im out from longs at 3681, looking to re-enter, will check EOD closing
PCE numbers were out, was a nice quick dump but no continuation as it came better then expected imo. That alone takes the crash scenario out of the picture for today. All eyes on 3745ES and 3623ES here in pre-open market. Still want my 3580-88 level hit and hold. Will be looking to buy longs today and exit swing short position as per plan outlined before Its...
The decline we’re witnessing in the US markets should not surprise anyone who has been following me or more than a couple weeks. This is something I have discussing with you for some time now. Today will tell us if minor wave iv is done. If not, we should see price back into the 3755-3780 area before moving down next week to complete our primary wave 3 of 5...
Watching the bull flag, ideal target is 3680ES Lets push, going to enter longs with a stop under the last lows here
I slept in today and this is what I was worried about from my last night NQ update, the EOM sell: There is a chance we see 3580 level today and if it closes below 3600 I think we gap down and see another 100 points cut tomorrow am! Be really careful with sizing on the long side till tomorrow's lows. I will be all out from my swing MNQ short tomorrow and will...
Needs to break above that orange line and stay there on 1h candle if it continue into tomorrow. Im short at 3733 and will add at 41-43 with a hard stop above
Some pre market commentary, SPX - expecting a bear trap after open, then higher. Wheat may be affected by the hurricane in Florida, Bonds hit an important fib extension, Gold looks promising if it can get over 1675 resistance, DXY also looks like it may pullback - BTC could still move to lower 18000 area before a move up (would align with one more low in equities)...
will be watching red line for break to up side to target next higher red line. A break lower will toss long out the window.