TradeWithDrJohn

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Very limited action here. Wave B may still be in the works. Trucking issues could affect deliveries from Canada and raise prices, so the harmonic move may be done.

TradeWithDrJohn Premium

Bitcoin got out of the DTL but ETH still struggling. Let's see how this candle closes.

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Great push out of the DTL, but now a Shooting Star forming at the top of the resistance zone...

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Mostly chop after the breakout as we see if a bull flag is forming...

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Notice how it found resistance at the recent pivot high. Could be bull flagging for now.

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Still slightly up so we will see if wave B holds or if this is the start of a fresh wave.

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Not as strong as the Bitcoin as this has not cleared the DTL yet, but showing some strength so far.

TradeWithDrJohn Premium

Cleared the DTL with force! Now needs volume to confirm, otherwise this drop zone could prove as some resistance.

TradeWithDrJohn Premium

The market continues to hold the DTL, so the futures red so far this morning is not surprising. Big tech names reported earnings so now it is about price action.

TradeWithDrJohn Premium

Gap up but still not taking out the potential wave B so we will see what is in store.

TradeWithDrJohn Premium

Strong reversal pattern back to the zone. Again, all about the DTL or downside confirmation at this point.

TradeWithDrJohn Premium

No confirmation yet on the down move, but overall choppy action heading to the DTL, so we will see.

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Channel breakout! Impressive after it pushed through that smaller resistance zone.

TradeWithDrJohn Premium

But made money short already this morning on $ES_F so it will be interesting to see if things hold up, but if price stays below the macro DTL (remember market still in downtrend), then that retrace to it could have been a wave 2. Just saying it is possible and worth considering.

TradeWithDrJohn Premium

$AMZN earnings certainly pushed things up overnight but will it be enough to hold? If not, this harmonic pattern could be valid.

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Red Hanging Man off the zone. The breakdown below those lows leading things down.

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We discussed this on Spaces yesterday. A red candle rejection of the top of this zone would be considered bearish, and now we are seeing downside action.

TradeWithDrJohn Premium

Based on the price action, it seems appropriate to downgrade to 250. :)