Wednesday’s trade did finally give me enough information to label the ‘internals’ for minute wave 4. Thus far it appears to have formed a double a-b-c structure. I’ve updated The Elliott labeling to reflect minute wave 4 completing at today’s low at 15523. While there remains the possibility that wave 4 still has more to go in the way of a triple a-b-c structure, but for now I’m giving the benefit of the doubt to wave 4 being complete. As it stands today, I continue to expect a minute 5th wave advance to move prices to new highs above 15709 and above 15800.
May 12, 2022
Thursday’s trade kept the volatility popping and the trading opportunities flowing. The ES started ...