$ES #ES #trading setup #Daily #micro #Elliott Wave #trading strategy Yesterday in a macro update I posted that Daily chart of ES-mini futures: The rule is “upon completion of a five wave up structure the low made by a pullback in a wave (iv) down works both as a magnet for the first pullback and a strong … Read more
$NQ #NQ-mini #trading setup #Elliott Wave The wave count of the rally in NQ-mini futures off the low made in October 2022 considers this decline off the July top as a corrective wave (iv) down that can be followed by another rally to a higher high of the 2023 year in a micro wave ( … Read more
$ES #ES-mini #trading setup #trading futures #Elliott Wave My primary macro scenario assumes that the rally off the 2009 low topped in Jan 2022: Then we should expect a large (A)-(B)-(C) down corrective move. The 2022 decline that bottomed in Oct 2022 can be counted as a wave (A) down and the rally that followed … Read more
$NQ #NQ-mini #trading futures #macro update #Elliott Wave We can consider that bullish path our primary scenario. The bullish scenario is based on assumption that NQ made a major bottom of a corrective wave in Oct 2022. If we assume that NQ made a major bottom of a corrective wave in Oct 2022 we can … Read more
$NQ #NQ-mini #trading setup Yesterday I shared a short setup that played out well. NQ-mini dropped 150 points overnight. Let’s review the wave count of the decline. I will attempt to re-count it as a combination of three wave moves. We can count the whole decline as a -w-x-y- down structire that is about to … Read more
$NQ #NQ-mini #trading setup That slow grinding move up after close is exactly what I expected. At 2-30 PM I shared with subscribers of my Premium Chat room this micro path: And NQ dropped in a subwave -b- down into close following the path. Ad after close NQ-mini has been climbing higher in a subwave … Read more
$ES #ES-mini #trading setup Yesterday I posted the bearish scenario: Today algos played the same tricky Expanded Flat structure we discussed yesterday with respect to NQ: The morning rally was a subwave c up in a corrective consolidation of wave (b) up. Upon completion of a corrective wave (b) up we expect the second leg … Read more
$NQ #NQ-mini NQ produced a large -a-b-c- move down off the July high. Ideally it should be followed by a large -a-b-c- up structure retracing from 41.4% to 66.7% of the preceding decline. So far we got a very small pullback. There are two scenarios for completion of the corrective wave (b) up, an a-b-c- … Read more
$ES #ES-mini #trading setup Overnight the bullish bounce that started on Tuesday afternoon extended to ne higher highs. At 8-51 AM EST I shared with subscribers of my premium trading chat room expectations for upcoming decline into the Green Box: “The rally extended overnight without any pullbacks and retraced 1/3 of the preceding five wave … Read more
$NQ #NQ-mini #trading setup #ElliottWave Yesterday NQ started with a clean short setup for bears: I expected bears to produce a micro bounce in a wave ii up before an accelerated decline would start. However, acceleration started without a pullback: That lack of a pullback is always a red flag. Anyway that could be a … Read more
$ES #ES-mini #trading setup #ElliottWave Today I posted an intraday update and note that bulls could start “a large corrective a up, b down, c up structure targeting 4,555”: I noted that the first sign of a bullish reversal would be violation of 4,393.75 resistance. In my premium trading chat I explained to my subscribers … Read more
$ES #ES-mini #trading setup #Elliott Wave Yesterday ES-mini completed a corrective a-b-c up bounce and provided bears with a great short setup. My conclusion was: “That corrective a-b-c up bounce off the low made on Friday afternoon is a decent short setup.” Off the expected resistance 4,535 S-mini dropped 50 points. Here we have two … Read more
$NQ #NQ-mini #trading setup #Elliott Wave #i down-ii up setup In my previous update I shared my expectations for a bullish bounce: In my premium chat room we have been tracking that bounce: In that micro update posted at 2-198 PM on Monday I concluded: …”NQ bounced up off the deceiving tipple bottom pattern back … Read more
#ES-mini #trading setup #Elliott Wave #Running Flat In my Weekend Update I shared expectations for a corrective bounce: My conclusion was: “…if we get a bounce up to 4,535 AND if that move up stalls right under the red box that would be a super sweet short setup for a quick deep dive down to 4,415 with likely extension … Read more
$ES #es-mini futures #trading setup #Elliott Wave #weekend update #weekly Part II of the Weekend Update. Let’s start from a macro view. I keep watching two very differnet macro paths: Under the blue bullish path an a-b-c move down to that green demand zone would be stopped by bulls and we would get another large … Read more
#es-mini #trading setup #Elliott Wave #Monthly Opening Range #weekend update The Weekend Update Part I. ES-mini futures managed to close a day UNDER the monthly support for August: The trading range formed during the first three full trading days of a month should be considered the Month Opening Range. The lowest price traded during these … Read more
In the previous update I expected a bounce to the red supply zone followe by another decline: It is possible that NQ completed a corrective bounce in a wave iv up today: Under that wave count this afternoon drop is a subwave a of wave v down. Ideally we should get some flat consolidation during … Read more
$ES #ES-mini #trading setup #Elliott Wave ES-mini follows the path posted in the evening update: In the evening update I noted: …“Note that 4,544 used to be the target 1 for the drop, a support that failed. Now that same level works as a strong resistance.” ES topped at 4,547 overnight and turned down as … Read more
$ES #ES-mini #trading setup #trading futures #bullish reversal In the previous update posted yesterday I shared my expectations for bears to make one more push lower: “Ideally I would expect ES-mini to make one more push lower tomorrow to complete a clean five wave down micro structure of the red wave -c- down.” That was … Read more
$NQ #NQ-mni #trading futures #Elliott Wave #trading setup In my previous update I concluded: “I expect this leg down to extend and tag the target 1 = 15,340. “ Note how well that target has worked out: We got the bullish bounce after price tested the target 1/ magnet 1 level at 15,340, But note that … Read more
$ES #ES-mini #trading setup #Elliott Wave Today I shared my plan to go long at 4,528. The low of the day was 4,527.75! But I said that it would be a good long entry to play a bounce. At this point its too early to say that a larger bounce is coming: Ideally I would … Read more
$ES #ES-mini #trading-setup Yesterday I shared a chart of ES-mini with three targets for this leg down: The target 1 was 4,545 – 4,525. ES-mini dropped to the upper edge of this target 1 today. If you ask me where I am ready to buy for a bounce I would say at 4,528. Note this … Read more
$NQ #NQ-mini #Elliott Wave #trading setup In the previous update posted on 31 July 2023 we correctly forecasted an upcoming bearish reversal: Let’s look how that chart looks like now: NQ broke under support of the blue trend line. That trendline managed to hold price since early May 2023. I expect this leg down to … Read more
$ES #ES-mini futures #trading setup #Elliott Wave #Bearish Reversal Last Friday I shared this path that expected a pullback and subsequent bearish reversal: In that Friday update I explained that “almost every bearish reversal is shaped as Head and Shoulders pattern“. I shared expectations for upcoming bullish bounce that would stumble upon resistance 4,594-4,606. This is how that chart … Read more
$NQ #NQ-mini #Elliott Wave #trading setup This volatile overlapping whipsaw still looks like a tricky Expanding Triangle structure, a pullback a corrective wave -b- up that should be followed by a strong decline in a wave -c- down targeting an important support 15,430:
$ES #ES-mini #trading setup #Elliott Wave In the previous update I explained that “almost every bearish reversal is shaped as Head and Shoulders pattern“. I shared expectations for upcoming bullish bounce that would stumble upon resistance 4,594-4,606: This is how that chart looks like now: ES-mini 240 min chart ES rallied wildly and overshot the … Read more
#ES $ES #trading setup #trading futures #Elliott Wave #day trading #swing trading Yesterday I warned you about upcoming top and reversal: “I count that rally as the final squiggle of a subwave -c- of wave -v- up.” The path I shared on Wednesday clearly explained that you had to expect a brutal bearish reversal: This … Read more
$NQ #NQ-mini #trading futures #trading setup #Elliott Wave NQ-mini keeps working on a corrective a-b-c up structure we correctly predicted in the Sunday update: This is how that chart looks like now: You can clearly see a corrective a-b-c up structure behind that bounce. Now let’s zoom-in to a 15 min chart: The key resistance … Read more
$ES #ES-mini #trading setup #ElliottWaves ES-mini keeps following the micro bullish path I shared with you yesterday: This is how that chart looks like now: That was a typical volatile and directionless FOMC day yesterday. First algos played a failed breakout pattern by pushing ES slightly over 4,608.75 previous high. But that spike up was … Read more
$ES #ES-mini futures #trading setup #Elliott Wave That strong bounce created uncertainty as to whether ES made a major top. When a move up goes over a 66.7% retracement we can not longer confidently count that move up as a corrective bounce. More often than not deep pullbacks morph into new legs up that eventually … Read more
$NQ #NQ-mini #trading futures #trading setup #Elliott Wave In Sunday update we correctly predicted a bullish bounce: Overnight NQ tested the Red Box: Here bears get a chance to turn NQ down and start a large leg down. Let’s zoom in to a tick bar chart: NQ-mini futures made a nominal higher high overnight and … Read more
$NQ #NQ-mini futures #trading setup #Elliott Wave In the previous update we correctly predicted an upcoming bullish bounce: This morning NQ completed the first leg up in a wave -a- up, turned down and started a decline in a wave -b- up that may find support in the Green Box. I expect another leg up … Read more
$SPX #ES-mini #Elliott Wave #trading setup Off the May 2023 low ES-mini produced a clean five wave up structure. That five wave up structure looks 100% completed: At the very least upon completion of a five wave up rally we should expect a corrective a-b-c down structure to test the low made by the previous … Read more
$NQ #NQ-mini futures #trading setup #Elliott Wave Most likely NQ will make a lower low and test the Green Box in the evening Sunday session: One more push down would complete a corrective Triple three structure off the last high on July 19, 2023. Interestingly the primary top in 2007 occurred on July 19th. Let’s … Read more
$NQ #NQ-mini futures #trading setup Note that NQ may find support slightly under 15,430 because resistance of the double top should turn into a support: We can expect that blue trend line to work as support at least one more time. If we zoom-in to a nano tick bar chart we can make a case … Read more
$NQ #NQ-mini #trading futures #trading setup #Elliott Wave I can count five waves up off the late April 2023 lows as having completed: At the very least that provides opportunty for bears to produce a corrective -a-b-c- down structure to test the low made by the previous corrective wave -iv- down (14,974). This is how … Read more
$ES #ES-mini futures #trading setup #Elliott Wave In my previous update posted on Wednesday I explained why I thought ES-mini could top around 4,600. Yesterday ES-mini popped up to 4,609.25 and then turned down: Note that ES-mini has crossed under support of the blue trend line. The Daily support for Thursday is 4,545. We need … Read more
$ES #ES-mini #trading setup #Elliott Wave We have discussed the target at 4,595 for several weeks: see my reports: “ES: Two Paths To 4,600” posted on July 2nd “$ES: Hit The Target 1. Can It Stretch Higher To The Target 2?” posted on July 14t ES hit the target and has completed a corrective looking … Read more
$ES #ES-mini #trading setup #Elliott Wave In my update posted on Monday July 10th I shared this direct path leading bulls to the Red Box in 4,600 area: On July 12th I shared a five wave up path to the Red Target box: This is how that chart looks a week later: As you can … Read more
$SPX #macro #weekly #weekend This macro update will be discussing very long term scenarios. In particular , the main subject of this update will be to discuss if bulls have any chance to break over the Jan 2022 top. Before I start talking about a bullish alternative counts let me show you a weekly chart … Read more