$ES #ES-mini #trading setup #Elliott Wave Let’s look first at a big picture on the daily chart of ES-mini: That -a-b-c- down structure of the April decline may be the subwave (a) of wave (iv) down, teh first leg down of a three wave correction. If we look at a…...
$ES #ES-mini #trading setup #Elliott Wave #triple three Yesterday I shared my expectation that a complete looking Double Three corrective structure would morph into the Triple Three structure: …”If that pre-market rally stops at or under 5,240 that could become yet another failed attempt to start a rally to be…...
#ES-mini $ES #Elliott Wave The corrective (w)-(x)-(y) down structure made enough micro waves to be considered completed. On Friday ES dipped into the Green Demand Zone. We got two pairs of a-b-c’s interconnected by the failed rally labelled (x) up. ES-mini 90 min chart That looks like a completed corrective……...
$ES #ES-mini #trading setup Bears keep pushing ES min down as we expected: Note that 5,132 is a very strong level of support. That is the neckline of the Head and Shoulders bearish reversal pattern. Even if bears manage to undershoot it, we will most likely get a strong bullish…...
$ES #ES-mini #trading setup The macro count of the Daily chart argues that this move down is a starting corrective wave (iv) down: I expect that pullback to eventually test 5,000 level: There are two micro paths that can push ES-mini down there: (i) the overnight move down could be…...
$ES #ES-mini #trading setup The hotter than expected CPI numbers triggered a move down under the Monthly support: Es-mini 30 min chart Bears got a charged Head and Shoulders bearish reversal setup: Ideally we should get a bounce in a subwave b up to be followed by a strong fear…...
$ES #ES-mini #trading setup Today Es-mini failed to break under the Monthly Support 5,235: Bears failed to break under the Monthly Support 5,235. Tomorrow CPI Data will most likely push ES out of that range. The failure of bears today makes me think bulls can capitalize on that failure and…...
$ES #ES-mini #trading setup Let’s start from a macro update of daily charts of S&P 500 cash index and ES-mini futures: S&P stretched to a 138.2% ext of the previous leg up, the normal target for a subwave (c) of wave (iii) up. If wave (iii_) up has topped then…...
$ES #ES-mini #trading setup This drop to a lower low makes me consider ES-mini having topped in a wave ( iii ) up: ES-mini 90 min chart We can count that drop as a subwave -c- of wave (a) of ( iv ) down. Note ES just dropped out of…...
$ES #ES-mini #trading setup #Elliott Wave ES stretched high enough to hit the typical target for the strongest part of the rally, in subwave (c) of wave ( iii ) up: Specifically, ES-mini has hit a 138.2% ext of the subwave (a) of wave (iii) up = 5,268. Based on…...
$ES #ES-mini #trading setup #flat a-b-c consolidation Bulls got a flat a-b-c down consolidation over the resistance of the previously made high (labelled as -iii-, topped at 5,256.50 on March 8, 2024): That is a base for another push higher in a micro wave -v- up…. This content is for...
$ES #ES-mini #trading setup #trading futures We keep watching the same bullish counts that allow bulls to keep pushing both indices higher. NQ stopped the decline right at the weekly support 1 = 18,440 yesterday. The structure of teh decline to the weekly support looks like a cotrrective w-x-y structure…....
#ES-mini #NQ-mini #trading setup #Elliott Wave #topping Bulls finally made a move pushing ES out of the Green box: To complete the micro structure of the wave (iii) up bulls need to make a nominal new higher high. Ideally they should tag the Red Box. Such a push would complete…...
$ES #ES-mini #trading setup #Elliott Wave #trading setup ES-mini follows the path I shared yesterday. As we expected, ES has been consolidating inn a micro wave iv down: I expect bulls to make one more push higher in a micro wave v up that should tag the Red Box. Upon…...
$ES #ES-mini #trading setup #trading futures #Elliott Wave I think that is the final spike that wil finish the wave ( iii ) up: Let’s zoom-in because the micro wave iii up stretched up to 176.4% ext of the micro wave i up we can expect the micro wave v…...
$Es #ES-mini #trading setup #trading futures We can count the post FOMC announcement pop as a teh top of the subwave –a- of wave -v- up: Then we may get a shallow a-b-c down consolidation that ideally shoudl botto in the Green box = 5,225 – 5,217. Such a flat…...
$S #ES-mini #trading setup #Elliott Wave We can count that overlapping corrective looking action as a completed wave -iv- down shaped as a triangle: Bulls have got a long setup to ride a rally in a wav e-v- up targeting the Red Box…. This content is for Monthly Plan, Quarterly...
$ES $NQ #FOMC #Trading setup #Elliott Wave The uber bullish wave count allows bulls to start acceleration of the rally in a micro wave iii of -c- of -iii- up targeting the Red Box. To invalidate that potential bears need to break under the immediate support 17,623. But so far…...
$ES #ES-mini #trading setup #Elliott Wave ES-mini should be in the final innings of the wave ( iii ) up of the five wave up rally that started in October 2022: That wave ( iii ) up should be followed by a corrective (a)-(b)-(c) down pullback in a wave (…...
$ES #ES-mini #trading setup #Elliott Wave I count this push high as a corrective subwave -b- up: If we get a decline down to the Green Box that would complete a bullish -a-b-c- down “flat” consolidation, a solid base for another push higher in a wave -v-. Zooming-in: The daily…...
$ES #ES-mini #trading setup Here bears have a setup for a push down in a subwave -c- There are three levels to watch today: If bears break under the support 5,185 the next support is the weekly support 1 = 5,155. That weekly support 1 stopped the bleeding on Monday…....
$NQ #NQ-mini #trading setup #trading futures The continuous contract switched to Jun 2024 and it slightly changed the numbers. This is how the bearish scenario looks like: The bearish count makes a lot of sense to me. Apparently bulls run out of steam and the rally stalled. Later I will…...
$ES #ES-mini #trading setup #trading futures #Elliott Wave Off the major low made in Oct 2022 ES has been moving up in an impulsive fashion following the five wave up fractal: The ideal target for the second leg of teh wave (iii) up, its subwave (c) is a 138.2% ext…...
$NQ #NQ-mini #trading setup #head and shoulders #Elliott wave The uber bullish wave count allows bulls to keep pushing higher: This wave count is valid as long as bulls hold NQ-mini over the stop at 17,372. Violation of that stop level would cast doubts over that uber bullish scenario and…...
$ES #ES-mini #trading futures #trading setup As our wave count suggested yesterday, ES-mini turned down: This is how that move down in a subwave -c- looks like now: There are two potential green zones where this decline may terminate. ES has almost hit the upper one, 5,079 – 5,069. In…...
$ES #ES-mini #trading futures #trading setup This rally in a wave ( iii ) up should be followed by a corrective pullback in a wave ( iv ) down. The ideal level for the wave ( iii ) up to top is 5,207 – 5,220. If we zoom-in to a…...
$ES #ES-mini ES mini hit 5,150, the target we have been discussing for weeks: . ES-mini 120 min chart Here bears get an opportunity to turn ES down and start a subwave -c- down that would complete the whole -a- down, -b- up, -c- down corrective structure of the wave…...
$ES #ES-mini #trading setup Bulls have broken out of the declining price channel: That morning push up confirms completion of a corrective consolidation. That looks like start of a rally targeting 5,150…. This content is for Monthly Plan, Quarterly Plan, and Annual Plan members only.Login Join Now...
$ES #ES-mini #trading setup #Elliott Wave ES-mini popped up strongly following strong earning reports posted by NVDA. We correctly predicted that rally 24 hours in advance. The ultimate target for the wave -iii- up is located at 5,140 – 5,150. But there is strong probability that ES-mini will not hit…...
$ES #ES-mini #trading setup #Elliott Wave This afternoon I reiterated my bullish view for subscribers of my chat room: “So far all bears did is a flat -a-b-c- down structure at the top, a textbook corrective consolidation. That second leg down has already made five micro waves… A break over…...
$ES #ES-mini #trading setup #trading futures ES-mini kissed the Green Demand zone today. We can count the move down as a completed w-x-y corrective structure. Bulls have a long setup here to start another leg up targeting the Red Box: To confirm that setup the first task for bulls is…...
$ES #ES-mini #tradig setup #trading futures #flat a-b-c consolidation Bulls keep pushing ES-mini futures higher along our “Very Bullish” Wave Count: Under the micro bullish scenario bulls can push higher in a micro wave c of v of -c- of -iii- of ( c ) of ( iii) up. Let’s…...
$ES #ES-mini #trading setup In my Sunday report I concluded: “If bears fail to break under 5,000 then we can get two more extensions, first to 5,105 – 5,125. and then, after a pullback in a wave -iv- down back to 5,040 – 5,020, another leg up to 5,195-5,215.” This…...
$ES #ES-mini #trading setup Ideally I would like bears to start another push down in a subwave -c- targeting the Green box: In a similar way, NQ-mini has a setup for a drop in a subwave -c- down to the neckline 17,221:… This content is for Monthly Plan, Quarterly Plan,...
$NQ #NQ #trading setup Yesterday I shared the Less Bullish scenario that argued that NQ made an important top. This is how that wave count looks after Tuesday decline: Bears need to undercut that micro 17,221 support to confirm that NQ made an important top. Any big bearish reversal normally…...
$NQ #NQ-mini #trading setup Let’s update two most probable macro scenarios: (1) Less Bullish scenario: Under the Less Bullish scenario NQ either has topped or about to top in a five wave up rally off the Oct 2022 low. Under that wave count that rally should be followed by a…...
$ES #ES-mini #trading setup In my previous updates (here and here) I made a bullish case for a rally that should hit 5,040-5,050 target. That target was hit on Friday. Let’s review two bullish macro scenarios. (1) The Very Bullish scenario: ES has broken out of the upward channel. That…...
$ES #ES-mini #trading setup In the previous update we correctly predicted this rally and noted a clean bullish triangle setup: ES-mini is approaching the lower edge of the Red Target box. We have the perfect confluence of two super strong fibs: That is the ideal spot for a wave -v-…...
$ES #ES-mini #triangle We can consider ES-mini as having consolidated in a triangle-shaped consolidation: Above I show you a conservative bullish scenario where bulls will not be able to get over 5,040. On Tuesday ES consolidated in a narrow range accumulating energy for a breakout of that triangle shaped consolidation:…...
$ES $NQ The morning drop was bought out again: I keep repeating that the cornerstone law of the bullish trend is that price stays 90% of the time over resistance. My proprietary Cycle Trader indicator for TradingView calculates Daily and Weekly Support and Resistance. This morning ES-mini dropped under the…...