$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…...
$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…...
$ES #ES #trading setup #Elliott Wave This morning ES-mini is hitting the red Box: There are two potential micro paths: The simple scenario is teh red one. We can get an a-b-c or w-x-y overlapping move down in a corrective wave -b-. Alternatively, if instead of a break under 4,350…...
$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…...
$ES #ES-mini #trading setup The base case is that bulls produce a bigger bounce to the intersection of two trend lines: But a repeating pattern is that a bearish month often ends making the lower low. In addition this coming Friday we will get a rare combination of the full…...
$NQ #NQ #trading setup #Elliott Wave Today NQ tested a strong support at 14,628. That was the June 2023 low. At 1-29 PM EST I warned subscribers of my trading chat room: “NQ has finally tested the support of the Jun’23 low = 14,628. Algos can trigger a long “failed…...
$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…...
$NQ #NQ #trading setup #Elliott Wave Ideally bulls should produce one more push higher in a subwave c of a corrective wave iv up: If we get that move up in a subwave c of wave iv up that would complete the a-b-c up corrective structure of a corrective wave…...
$ES #ES #trading setup #Elliott Wave We closed last week with a short setup that allowed bears to push ES-mini down to 4,312. On Monday morning ES dropped down to 4,338.25 and produced a corrective bounce. Before we look at a micro structure lets have a look at a 60…...
$NQ #NQ #trading setup #Elliott Wave NQ is approaching a very strong confluence of two levels: Let’s dive deeper and check a 120 min chart: On the 120 min chart I highlighted important support levels with green arrows. 14,744 – 14,710 is a strong support that should produce at least…...
$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……...
$ES #ES-mini #trading setup #Elliott Wave Yesterday in my evening report I concluded that ES-mini hit an important support at 4,370 and should produce a bullish bounce on Friday: “The EMA 21 Weekly calculated based on lows is located at 4,391. My base case scenario is that bulls will try…...
$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…...
$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…...
$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…...
$ES #ES-mini #trading setup This morning I posted an update arguing for another push lower to test the Green Box: This is how that chart looks like now: As a result, bulls get a clean long setup, a flat a down, -b- up, -c- down consolidation. This morning I posted…...
$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…...
$ES #ES-mini #trading setup ES just bounced up to the same macro red supply zone in a clean a-b-c up micro structure: Ideally I would like to get another push down to test the greem macro demand zone. On a tick bar chart you can see a corrective (a)-(b)-(c) up…...
$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…...
$NQ #NQ #trading setup Yesterday I posted a clean short -i- down,. -ii- up setup: This is how that chart looks like now: Under that scenario bears can keep pushing lower down to 15,190 – 15,000…. This content is for Monthly Plan, Quarterly Plan, and Annual Plan members only.Login Join...
$ES $SPX #ES-mini futures #trading setup #Daily On Thursday bulls broke out over the red supply zone: So far that move up looks like a clean corrective three wave up structure we count as w-x-y. But if bulls push over 4,560 that bearish scenario will most likely get invalidated… To…...
$NQ #NQ #trading setup #Daily #Macro We still have two alternative very different macro scenarios: NQ dropped to the green demand zone in mid August and then popped to into the red resistance band. And it got stuck there. Under the red bearish count that test of the red supply…...
$ES #ES-mini #trading setup ES-mini tested support of that green trend line 10 times: By now that support has been exhausted and another bears’ attack should be able to break it. If we zoom-in to a 15 min chart we can see a -i- down. -ii- up short setup: To…...
$ES #ES #trading setup #Elliott Wave #trading strategy #acceleration The Weekly chart of ES-mini looks bullish, no doubts about that: It is bullish because ES is sitting at support of 8 EMA Weekly = 4,517. It is bullish because EMA 8 weekly is located over 21 EMA weekly and the…...
$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…...
$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…...
$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…...
$ES #ES-mini #trading setup #Head and Shoulders On a macro chart everyone watches that huge Head and Shoulders bearish reversal pattern: This is how that Head and Shoulders is supposed to work: !!! Please note that we are moving from expiring Sep’23 contract to ESZ23, a contract that will expire…...
$ES #ES-mini #trading setup #Head and Shoulders This is the macro bearish Head and Shoulders reversal pattern: To trigger that bearish setup bears need to break under its neckline located at 4,368.50. Break under that level would point to a target for decline in a large wave C down to…...
$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…...
$ES #ES-mini #trading setup #Elliott Wave On Friday we closed the week with an attractive short setup. I posted that chart last Friday: This morning we hit that target. This is how ES looks like now on a tick bar chart: The whole decline can be counted as a corrective…...
$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…...
$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…...
$ES #ES-mini #trading setup #Elliott Wave Interestingly we get a similar picture on a macro and a micro timeframes. We got bearish Head and Shoulders pattern both, on a 240 min chart and on a tick bar chart: Note that on a macro 240 min chart ES is sitting over…...
$NQ #NQ-mini #trading setup #Elliott Wave #trading strategy NQ-mini futures looks having completed the Right Shoulder of a large bearish reversal Head and Shoulders pattern: If NQ has topped making a lower high then we can expect another large down to make a new lower low (under the low made…...
$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 /…...
$ES #ES-mini #trading setup #Elliott Wave #trading strategy ES-mini has a bearish look: I really like how price broke under support of the trendline and then bounced hard to test that line from below. So far price stopped right at the critical resistance, a 66.7% retracement of the August decline:…...
$NQ #NQ #trading setup #Elliott Wave #trading strategy We got an -w-x-y- up bounce into the resistance of the Red Box. That move up looks like the Right Shoulder of the Bearish Head and Shoulders reversal pattern. That setup allows bears to start a new large leg down in a…...
$SPX #S&P 500 #Macro Forecast #Weekly #Elliott Wave On Aug 21st I posted that chart with two potential macro paths: That chart demonstrates how we can handle uncertainty that is essential part of the stock market. To be able to make money in the stock market by trying to guess…...
$ES #ES #trading setup #Elliott Wave #trading strategy If we look at a macro 240 min chart we can see a three wave up move that looks like a corrective pullback: The move up off the mid August low has been following a corrective -w- up, -x- down, -y- up…...