$ES: Get Ready for the “Max Pain” Tricky Scenario

$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…...

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$ES: Bears Failed to Break 5,000 Support. Bulls Can Push Higher Again

$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…...

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$NQ: Bears Should Follow a Head and Shoulders Path

$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…...

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$NQ: At The Crossroads

$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…...

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$ES: If Bears Fail To Break 5,000 Support the Rally May Extend By 200 Points

$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…...

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$ES: Bulls Built A Base for a Push Over 5,000

$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:…...

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$ES and $NQ: Yet Another Bears’ Trap Should Trigger a Move Up

$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…...

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$ES: A Move Down we Expected Has Started

$ES #ES-mini #tradingfutures #Elliott Wave In the previous update I showed three potential paths for a bearish pullback: As I noted, “the first support is located at 4,800 – 4,750. Under the most bullish scenario this is where the upcoming pullback may bottom.” This is how that chart looks like now:…...

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$ES: Rejection off a Strong Resistance May Trigger a Pullback

$ES #ES-mini #trading-futures Lets update two major macro scenarios we have been watching and also have a look at less probable but the most exciting one. All scenarios are long-term bullish but all argue for an upcoming pullback. (1) The Running Flat scenario: Let’s zoom-in: Under the Running Flat scneario,…...

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$NQ: We Can Get a Pullback in the 1Q 2024

$NQ #NQ #trading futures #trading setup Over the weekend I posted a macro analysis of Nasdaq Composite index. The Nasdaq-100 is frequently confused with the Nasdaq Composite Index. The Nasdaq Composite index (often referred to simply as “The Nasdaq”) includes the stock of every company that is listed on Nasdaq…...

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$S&P: Applying 1999 – 2000 Fractal to Guide Us in 2024

$SPX #Yearly Opening Range #Yearly #Macro #Weekend Let me start from explanation what the Yearly Opening Range is. You may have read my explanation about a Month Opening Range strategy here. The very same principle can be applied on a higher timeframe: On the chart above you can see the…...

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Nasdaq Composite: Macro Update

$COMPX #Weekend #Weekly The Nasdaq-100 is frequently confused with the Nasdaq Composite Index. The Nasdaq Composite index (often referred to simply as “The Nasdaq”) includes the stock of every company that is listed on Nasdaq (more than 3,000 altogether). The Nasdaq-100 is a modified capitalization-weighted index. The top made in…...

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$ES: We Got the Drop to the Demand Zone. What’s Next?

$ES #ES-mini #first decline #re-accumulation On Dec 29th I shared the pattern of a re-accumulation: Back then I noted similarity to then current chart of ES-mini and based on that fractal forecasted an upcoming decline to 4,757-4,737 demand zone: Today Es-mini dropped to 4,737: If bulls defend the fat green…...

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