- the support was ripped in pieces and there is no historic support in sight
- S&P 5M candles are computed wrong against VIX and SH !!!
- Futures go down - S&P ent up yesterday... I think Santa drank a bit too much and it as a clear divergence which will be set in a large drop today
Noe: S&P may lose 250 points today only.
This is a continuation of the Wave counts I have been doing here for over 2 years. Having completed 5 waves down, which conform to elliot rules (look closely to the wick wave 4 does not cross into wave 2, wave V goes beyond wave III) etc. We have completed wave A UP and now looking to go down on wave B.
ES is close to a confluence of Fibs. There is a visible H&S that some could see, some could make an argument for a bear flag. Each to their own. Above this level opens up the target around 2712. IF this fails, potentially we could see sub 2600 on a break of around 48.( Error in the text. Should read 65.75-68)
Volatility Remains Elevated. Large Point Swings Remain the Norm
Dec.2018 ESZ Futures are Top Shelf for Less than 48 hours
until the Rollover to March 2019 ESH Futures on Dec.14 later this week.
Overnight 4 Hour Support for Dec.Futures for Dec.11 is at 2620.00
Put it this way to simplify things
If Dec 2018 Futures can stay above 2620.00
then the reversal bottom...
Dec 18 S+P Futures Overnight Low at 2610.25
has hit a very important support place
on the 4 Hour OPEN Chart that I keep.
Futures have bounced up 15 points,
after hitting pattern support.
The futures market has done it's job
overnight, at defining price parameters.
for 12/10 Regular Hours trading.
In this case, use 2610.25 as a LONG STOP
for any bullish bets on...
22:00 EST 03/12/2018
Long Term: ESZ is forming patterns to go upto 2 day target on a long term. 3,5,7,60 mins are in con. positive. So it is expected that it will go to 1 day atleast by taking support from 5 mins atleast then come down for a HTF support then bounce again to 2 day. It has already started forming the base for the bounce. (THERE IS ALSO A CHANCE...
The market's initial reaction
the new US/China Trade Truce Agreement
has been immediate, and rather Conclusive.
S+P Dec 2018 Futures have gapped up 35 points,
and are currently trading above 2800,
a 1 % move to the Upside.
Technical Analysis of the Breakout
suggests the CONTINUATION the Bullish Reversal
that began with a move above S+P 2670,
22:00 EST 26/11/2018
Long Term: ESZ is forming patterns to go upto 1 day target on a long term. It is taking support from 1 month on the other hand 1,3,4 hours are confirmed negative. So it is expected that it will go to 1 hour atleast then come down for a 15 or 30 mins support then bounce again as 1,3,4 hours are not touched even once. It has already started...
This is a follow up to my previous post, because the numbers were half off the screen. The wave count is the same 5 waves down in a 4 hour time frame. There are 2 additional Elliot Tools that confirm my count, the EWO (Elliot Wave Oscillator)
which is a free TV Indicator, and the MTPredictor MYP STF. It you look at the red and green cycles in these two...
All the charts I have seen by other Elliotitions in these rooms show how this correction so far is a simple ABC, indicating
we go up, after an abc correction, and yes I expect a bounce, but what is we are in the first set of 5 waves down to be followed by an ABC then the next set of 5 down... I noticed the 7 days of UP had a green doji right in the middle in a...
Shake Out Low at 2627.00 ESZ S+P Futures Dec.18'
Overnight Trading for 11/23/18, 4 Hour Chart
.... Could Be Very Bullish.
A Breakout Above 2672.00 in Dec.18' Futures ESZ,
would Confirm a Short Term Bottom was in Place
and would be a screaming BUY SIGNAL.
Until then,..WAIT For CONFIRMATION,
TREND IS BEARISH
USING 2625.00 as a LONG STOP.
There was a similar setup on Nov 7th to go short, with a target just below price here, that obviously worked.
I have been short from the very top so this is NOT a report from a "buy the dips" guy.
it includes entry price, stop and targets.
RISK EXCEEDED just means that the stop was tripped at that price, I expect we go a little lower before this...
22:00 EST 19/11/2018
Long Term: ESZ is forming patterns to go upto 1 day target on a long term. It has formed a green candle with reversal and confirmation is getting formed as of now. It is expected to come down from 2 hours resistance as 2 hours was con neg and it was touching 2 hours for the first time so it is expected to come down to 30 mins support atleast...
ES closed the week close to 2750, key resistance that held all week after Monday's drop.
I will be looking for short entries close to VAH and 2750ish going into next week. A strong break of Friday's +3 VWAP STDEV (2751) would tempt me into longs, but I probably wouldn't feel great about it at that price until we shoot past 2755...would need quite a bit of...