Tuesday’s trade did clear up the Elliott count for me. I have changed the labelling back to the preferred count and updated the labelling to reflect today’s activity. I reinstated minute wave 3’s completion point at the 15134 high. This morning’s decline did break below yesterday’s lows, but did not break below 14811 which kept […]
Continue readingTuesday’s trade did clear up the Elliott count for me. I have changed the labelling back to the preferred count and updated the labelling to reflect today’s activity. This morning’s decline did break below 4364 which did put in a much cleaner low for the Minor wave 4 correction. The advance that launched off of […]
Continue readingI would like to present a new “alternate” view on tonight’s update. The premise is that in the NQ the market remains in the process of tracing out a Minor wave 4. The preferred count remains that Minor wave 4 completed at the 14441 low on July 19th. The new “alternate” count suggests that minute […]
Continue readingI would like to present a new “alternate” view on tonight’s update. The premise is that in the ES the market remains in the process of tracing out an Intermediate wave 4. The preferred count remains that Intermediate wave 4 completed at the 4224 low on July 19th. The new “alternate” count suggests that Minor […]
Continue readingFriday’s trade did not see any follow thru to the downside after reaching a low at 14811 during Globex. As discussed on Thursday’s update first support for the NQ to complete the minute wave 4 correction was at the level where wave ‘C’ would be equal in length to wave ‘A’ and that was at […]
Continue readingFriday’s trade did not see any follow thru to the downside after reaching support at 4369 during Globex. As discussed on Thursday’s update first support for the ES to complete the Minor wave 4 correction was at the level where wave ‘C’ would be equal in length to wave ‘A’ and that was at 4369. […]
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Continue readingThursday’s trade was awesome the first hour, slow and thick for the next 4 hours and smashed lower after the close. AMZN reported earnings of $111 billion for the 2nd quarter, which blew Google’s numbers out the door, but the forward guidance for 3rd quarter was $113 billion vs. $118 estimated. Well that tossed everyone’s […]
Continue readingThursday’s trade was awesome the first hour, slow and thick for the next 4 hours and smashed lower after the close. AMZN reported earnings of $111 billion for the 2nd quarter, which blew Google’s numbers out the door, but the forward guidance for 3rd quarter was $113 billion vs. $118 estimated. Well that tossed everyone’s […]
Continue readingWednesday’s trade was fairly uneventful even with earnings from FB and PYPL as well as the Fed meeting results and conference call with Chairman Powell. Although the Fed announcement did send what sort of appeared to be “fat finger” sell orders or a trader who believes “no change” means “sell all”. In any case, FB […]
Continue readingWednesday’s trade was fairly uneventful even with earnings from FB and PYPL as well as the Fed meeting results and conference call with Chairman Powell. Although the Fed announcement did send what sort of appeared to be “fat finger” sell orders or a trader who believes “no change” means “sell all”. In any case, FB […]
Continue readingTuesday’s trade gave much needed information in terms of direction and the Elliott wave count. The ES sold off somewhat on Tuesday, which did provide the end point for Minor wave 3 at yesterday’s high at 4316 and set the stage for a Minor wave 4 correction. Minor wave 4 though does appear complete at […]
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