I'll make this clear, concise and quick. PURPLE If we retrace to at or above 3969....Purple is confirmed. 3969 would be the 50% retracement of wave 3. Now the impulsive count would not be invalidated but probability wise this is not a wave 4. This would be an ABC. The Purple count will not get to and below 3788. BLACK If price gets to approximately 3930-3945...
I would anticipate our retrace up start today. This retrace will either be a minor wave 4 or a b-wave. If we get above 3972 then it's likely this is a b wave retracement and not a 4th wave in an impulsive wave 1 of c. Incidentally we're now in the target box for purple b. Micro chart below: I think we're extending in wave 3 still. So I anticipate a wave 4...
Just sold a full tranche of 25 puts that expire in 2 days. Strike of 3880 at $4.35 for a total of $5367 in premium. That's almost $16k for January in Premium. #FreeMoneyThankYouSPX Best to all, Chris
We're now getting into the target box for purple b. To me this move down reeks of a c wave. If this is a c wave...we may not get down to my primary target of sub 3788. To get down to sub 3788 we need a 5 wave move. Here's the micro of what I'm referring to. As of right this minute, I have to classify this as a C wave down. However, if tonight or into...
would like to see retest of 85,00s tbh but would be > happy w/a close under 72,50. when in doubt, zoooooom out!
Stocks will go down because they are in a downtrend. This is not hard to understand.
As an observer I would use word to describe the market over the last 2 weeks...Undecided. Much of what I track is coming into topping regions. It only stands to reason that the market will let loose soon and confirm my suspicions of lower before higher. From an Elliott Wave perspective I want to point out 2 patterns that should give those in the immediate...
I added 5 additional contracts at $19.75 for an additional $4923.40 in premium income for a total of $10,034.30 in income having used 130,000 in buying power against an allocated $325,000 in buying power for this trade (25 Contracts). Break Even is at 4110 on the ES. Below 4100 end of month and I keep the income. Best to all, Chris
Whether we have topped or about to top in our minor b of B, we should be anticipating an initial move below 3950 to give us our first clue, we may be headed to the 3761-3634 area. This next move down should find support in my anticipated target box. However I am expecting this move down in c of B to be an impulsive 5-wave structure. Depending how we trade...
Weekly Chart shown and Daily Fed Net liquidity indicator applied. This indicator shows fed inflow/outflow money’s based on their Quantitative tightening and easing (denoted by the green line). As you can see by looking at the circles drawn in, when Net liquidity becomes meaningfully extended above the price action, price eventually makes its way there, and the...
01/16 Weekly Plan. ES Futures March Weekly Pivot is 3,990 Targets 1. 4,021 2. 4,070 3. 4,110 . Targets 1. 3,929 2. 3,890 3. 3,860 . Now trading at 4,016 near Weekly TP1 - Upside You will receive alerts in this channel every time ES hits (2M candle close): 1. Weekly opening 4,020 2. Weekly pivot at 3,990 3. Each weekly target. ...
SPY dropped to a mid Fib level from the recent pivot high and bounced. Price is now rising in a channel predictive for a 1% rise tomorrow. The ADX indicator shows the negative direction reversed and now positive and rising out of the chop zone confirms the reversal as a solid one not a fake out as does the MACD with a crossover under the histogram I will...
We spent the last couple days, in my opinion, putting the final touches of this short term bullish celebration. Based on my primary black count we should be entering the dialed in target box for this b of B short term top. After which I have no reason (at this time) to believe we will NOT visit and breach 3788 in the coming weeks. Not much else to share, as of...
If we completed the B wave up, a C wave down should commence starting today. C waves are notorious for their characteristic buying or selling pressure, panic or fomo at it's peak. A good example was the covid sell off in Feb - March 2020. This is only one possibility. I'll post more as time goes by and see see how price looks. Either way I believe we will have...
Pay attention. Today will likely be a large range bar - possibly with a deep low near 3920. My SPY cycle patterns call today a "Major CRUSH". That means we could see a very large price range today. Combined with other SPY Cycle patterns, I believe the ES will attempt to establish a base/bottom - retesting recent lows. As we move into 2023, be aware that cycle...
Before I get into my morning market update I would like to address something briefly. I recently did a post called "Has Bitcoin & Ethereum Bottomed?" . There were many comments arguing for or against a bottom being in place based on either the Global Economy, The US Dollar, Inflation...etc. I bring this up mainly for new traders. Here's some questions I want...
ES1! 65m Acute key supply and demand levels post CPI. Broad markets gap down going into EOW and re-establishing auction at lower structure. KLs: 3978.00, 3973.25, 3963.50, 3952.50. Neutral to risk off bias is invalidated > 4021.75// Price at time: 3967.25
It appears I over estimated the initial spike and the close was not close enough to flat....overall I would say I missed on the details, but I hope you can gather reading the charts prior to news one can get a sense (regardless of the content of the news or event) the outcomes can be predetermined. Really the main thing I want to point out tonight is the negative...