$ES: Dropped As Expected: Bulls Can Attack 4,400 Resistance Next Week

$ES #es-mini #trading setup #ElliottWave This morning I correctly predicted a pullback off the morning highs. I shared two bearish paths. The red path argued that bulls would stop decline at 4,322 Under that path bulls got a setup to produce an a-b-c move up to the Red Target box…...

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$NQ: Hit The First Resistance and Got Rejected. Can Bulls Make Another Push Higher?

$NQ #NQ #trading setup In my previous update “Both Scenarios Allow Bulls To Push Higher” I correctly predicted a corrective bounce: I shared two scenarios that argues for a move up of different magnitude: The bearishscenario (i) argued for a pullback to 15,000: This is how that chart looks like…...

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$ES: How Bulls Can Avoid the Plunge

$ES #ES #trading setup #Elliott wave Yesterday I outlined an alternative bearish scenario that argues for the final plunge either today or tomorrow: Bulls can invalidate that scenario. They simply need to violate the first resistance 4,336.50. In fact bulls have a setup for that move higher: The key support…...

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$ES: Dropped and Hit The Target. Bulls Have a Setup to Turn it Up

$ES #ES #trading setup #Elliott wave I kept repeating that 4,312 is the target for the move down: Yesterday I concluded: “That (w)-(x)-(y) structure may attempt to bottom at 4,312.”. Today ES-mini dropped and tagged the target: This drop can extend down to 4,300. But here bulls are sitting on…...

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$ES: The Crowd Expects a Market Crash. Stay Away From the Crowd!

$ES #ES-mini #trading setup #Head and Shoulders Last week ES-mini futures broke under the important support, the green band 4,415 – 4,400: ES-mini 120 min chart That green band 4,415-4,400 was a critical support, the neckline of a huge bearish reversal Head and Shoulders pattern. We can see that the……...

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$ES: Stopped at a Strong Support on Thursday.

$ES #ES-mini #trading setup #extension #wave 3 down #Elliott Wave Yesterday ES-mini broken under an important support 4,462 and that triggered a breakdown scenario. There are three key ideas behind that wave count / scenario. First, we are getting an A-B-C move down off the high made in late July…...

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$ES: A Breakdown Has Triggered “Short-Every-Bounce” Regime

$ES #ES-mini #trading setup #Elliott Wave #invalidation This morning I shared my expectation for an a-b-c move up targeting 4,540: ES-mini followed the path nicely until the press conference of the Chairman Powell that started at 2-30 PM EST. Specifically, the morning rally stalled right under the red box and…...

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$ES – Potential Micro Path for a Volatile FOMC Day

$ES #ES-mini #trading setup #Elliott Wave #trading strategy #trading plan Yesterday I posted a “spaghetti” chart showing three potential paths: ES has been squeezed in between of two contracting trend lines for weeks. That consolidation can break out of that contracting range in ANY direction, either up, or down. Note…...

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$ES: Three “Spaghetti” Models

$ES #ES-mini #trading setup #Elliott Wave Meteorologists use the term “spaghetti models” to show different paths for the cone of a hurricane. Its just a good way to visualize results of multi scenario analysis. Let’s start from the big picture: The big picture is pretty clear. Everyone in the market…...

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$ES: Weekly Macro Update: Can Bulls Stop this Drop at 4,400?

$ES #ES-mini #trading setup #Elliott Wave #weekly #macro #Month Opening Range Last week bulls failed to break over the immediate resistance at 8 EMA weekly (calculated based on highs) = 4,476.50: The closest support is 4,461.60 where SMA 20 weekly is located. In this macro update we will review three…...

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$NQ: Bears Sit On a Picture Perfect Short -i- down, -ii- up Setup

$NQ #NQ-mini #trading setup #Elliott Wave #trading setup $NQ is at the critical intersection in between of the blue bullish and red bearish scenarios: As long as bears hold NQ under the critical resistance 15,783 bears will have a short -i- down, -ii- up setup that allows them to push…...

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$SPX – $ES: At The Intersection of the Macro Bullish and Bearish Scenarios

$SPX #ES #S&P500 #Macro #Weekedn #Weekend We continue to follow two different macro path, the blue bullish and the red bearish ones: On July 23rd I shared this weekly chart: On Aug 18th I predicted a turn up off the Green Demand zone: On Aug 30 I updated those two…...

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$ES: Bulls Produced a Bounce We Expected. Has it Topped?

$ES #ES-mini #trading setup #Elliott Wave Yesterday I correctly predicted a bullish bounce triggered by a micro bullish Head and Shoulders pattern: We got that bounce: Here we have two conflicting patterns. A macro bearish Head and Shoulders vs a micro bullish inverted Head and Shoulders. This is how the…...

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$ES: Can We Get a Bounce off the 50 Daily MA?

$ES #ES-mini #trading setup Today ES-mini dropped to an upward sloped 50 Daily MA: Moreover, both, ES-mini and NQ-mini, made three consecutive lower lows on daily. When we get three consecutive lower lows that is a sign that trend turns down. But to make traders life painful the market immediately…...

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$ES: The Wednesday Low Will Become a Monthly Support

$ES #ES-mini #Monthly Opening Range #trading range I keep teaching my followers a mighty strategy that helps me a lot in forecasting the market. That strategy, for example, helped me to correctly predict a bullish reversal on August 18 and a bearish reversal on September 1st. Let me briefly explain…...

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$ES: A Bullish Wedge Is a Long Setup for a Spike to a Lower High

$ES #ES #trading setup #bullish wedge #Elliott Wave #trading startegy The micro Head and Shoulders setup produced a very weak move down. The whole structure off the last high made on Sep 1st looks like a completed corrective -w-x-y- down: After the Tuesday close ES-mini has made a slightly lower…...

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$ES: Micro Update: Setting Up for a Drop

$ES #ES-mini #trading setup #Elliott Wave #trading strategy Today ES-mini futures completed the bearish Head and Shoulders reversal pattern: The neckline 4,514 was violated twice today. Now look at that a-b-c flat structure in the yellow box. Remember the rule for up trending market: “A flat a-b-c shaped pullback /…...

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