$ES #ES-mini #trading setup In my yesterday update I shared two main resistance levels: That -a-b-c- up structure has two main resistance levels: That -a-b-c- up structure has two main resistance levels: ES-mini hit the target 1 yesterday and even slightly overshot it. (ii) The Less Bullish scenario: We can make a case where ES … Read more
$ES #ES-mini futures #trading setup #Elliott Wave At this point I can outline two high probability wave counts (or scenarios), the Very Bullish and the Less Bullish ones. Both wave counts are based on the assumption that ES has been moving up in a clean -a- up, -b- down, -c- up structure off the March … Read more
$ES #ES-mini futures #trading setup #Elliott Wave In my update posted on Monday July 10 I shared this direct path leading bulls to the Red Box in 4,600 area: This is how that chart looks like this morning: Under this bullish scenario the Tuesday rally was a micro wave -i- of a new five wave … Read more
$ES $NQ #ES-mini #NQ-mini #trading setup #Elliott Wave Let’s start this update from ES-mini Daily chart: Bears tried to push ES down in what could be counted the second leg down of a corrective wave (iv) down. A corrective pullback in a wave ( iv) down should be followed by a new rally in a … Read more
$ES #ES-mini #trading setup #Elliott Wave Bulls have a setup to produce another push higher. I can outline two alternative paths leading higher: (i) immediate bullish: (ii) Alternatively bears can push ES-mini a bit lower before a bullish reversal and another leg up: Overnight ES has almost tagged the support 1 at 4,402. But that … Read more
$ES #ES-mini futures #trading setup Today I will update two bullish counts shared in my previous update posted on June 20 and June 27. On June 20, 2023 I shared that scenario: This is how that chart looks like now: That wave count considers that decline as the second leg down labelled a subwave (c) … Read more
$ES-mini #trading setup #Elliott Wave #weekend update In this update I will explain two wave counts that have been helping us to successfully navigate that rally. (1) We will start from a micro bearish wave count / scenario. On June 20, 2023 I shared that scenario: That scenario allowed bulls to stop the decline in … Read more
$ES #ES-mini #trading setup #Elliott Wave ES-mini futures keep grinding higher following the bullish path I shared on Tuesday: This is how that wave count / scenario looks like now: Pleas note that in addition to posting two alternative scenarios I try to give you the key levels to watch. For example, in my Tuesday … Read more
$ES #ES-mini #trading setup #Elliott Wave In my yesterday update I noted that the ES-mini futures could rally to 4,460 by following two different paths. “Under that bullish wave count the rally on Tuesday was a micro wave i up followed by an overnight decline in a wave ii down. If bulls manage to hold … Read more
$ES #ES-mini #trading setup #Elliott Wave In the previous report “Expect a Bullish Bounce” we correctly predicted a rally in ES mini futures. We wrote: “ES Daily Support-turned-resistance for Tuesday is 4,381.50. If bulls manage to reclaim that level we would most likely get a quick short covering rally to 4,408.“ On Tuesday bulls pushed … Read more
$ES #ES-mini #trading setup #Elliott Wave If we examine a micro structure of that decline we will see it is structured as a complex corrective (w)-(x)-(y) structure, not a trending five wave down structure: That implies bulls can start another leg up upon completion of that pullback. Let’s now zoom-out to see two macro scenarios, … Read more
$ES #ES-mini #trading setup #Elliott Wave Last week ES-mini futures hit the first green support area: I think chances are we will get a bounce off that green box. Bulls can push back up to recent highs. To play my favorite bearish “scoop” setup, bulls are allowed to push ES-mini all the way up to … Read more
$ES #ES-mini #tradingsetup #Elliott Wave I consider the move up off the Oct’22 low as a corrective bounce in a wave (B) up, a reaction to the first leg down in a wave (A)down played in 2022: This week we discussed a similar fractal, a structure of the rally in Nasdaq Composite index played out … Read more
$ES #ES-mini #trading setup #Elliott Wave In the previous update we correctly predicted a flat consolidation that would test the Green Box: We have got a move down to the Green Box: There are two levels where bulls can stop this decline: If bulls manage to stop this move down either at 4,391 or 4,380 … Read more
$ES #ES-mini #trading setup #Elliott Wave This is how a macro bearish wave count looks like for the cash index S&P 500: To trigger that bearish macro scenario bears need to push SPX back under the Aug 22 high = 4,325. This is how the bearish macro scenario looks like for ES-mini futures: The problem … Read more
$SPX $ES #trading setup Gun to my head, but I will still tell you the structure off the Oct’22 low looks like a corrective garbage: The move up off the Oct’22 low really has a clean (w) up, (x) down, (y) up structure. Interesting that ES approached an area where two 100% extensions form a … Read more
$ES #ES-mini #trading setup Yesterday I concluded that in order to confirm the bearish count bears needed to step in and produce a strong bearish rejection. In contrast, a gathering pattern right under 4,440 resistance would be a bullish sign. I think the bullish action this morning is an argument in favor of the bullish … Read more
$ES #ES-mii #trading setup #Elliott Wave #wyckoff #education In the previous update I shared a bullish path to 4,440. Today ES-mini topped at 4,449.50. For subscribers of my Premium Chat room I nailed the exact top and turn down: I shared an attractive short setup: …”break under 4,423.75 would trigger a short “failed breakout” setup.“ … Read more
$NQ #NQ-mini #trading setup #Elliott Wave #toppy On Sunday I shared bullish expectations for NQ-mini: This is how I concluded my weekend report: “…This micro count argues for first for a micro a-b-c down consolidation making a higher low (at 14,655 – 14,600) and then for one more spike higher up to 15,000+:”. Unfortunately we … Read more
$ES #ES-mini #trading setup #Elliott Wave Yesterday I noted that a wave count of NQ-mini futures argues for another rally That made me come up with a bullish wave count for ES-mini futures that allowed bulls to push to 4,385: Now let’s zoom-out to a 240 min chart before we dive deeper and review a … Read more
$NQ #NQ-mini futures #trading setup #Elliott Wave #Weekend Please note that I switched from June 2023 (NQU23) to September 2023 NQ-mini contract (NQM2023). I can’t make a case that NQ-mini has topped: This micro count argues for first for a micro a-b-c down consolidation making a higher low (at 14,655 – 14,600) and then for … Read more
$ES #ES-mini #weekend updated #Elliott Wave Please note that I switched to ES-mini September (ESU2023) contract from June (ESM2023) contract. The whole move up off the Oct 2022 low looks like a corrective overlapping (w)-(x)-(y) up structure: ES-mini started the second leg up in a wave (y) in mid March 2023: That wave (y) up is … Read more
$ES #ES_mini #trading setup #Elliott Wave Yesterday I shared a bullish setup and concluded: …”That scenario allows bulls to start a new rally targeting 4,320 – 4,340. To trigger that scenario bulls need to push over resistance 4,281.50.” I post many intraday updates for members of my Premium Chat room. For example, I posted this … Read more
$ES #ES-mini #trading setup Bulls keep ignoring good setups that allow them to make the final push higher to 4,340 area. In gerenal that happens with ES-mini very often. It ignores a straightforward easy-to-trade scenario and follows some weird complex paths. This is a straightforward bullish scenario: That scenario allows bulls to start a new … Read more
$NQ #NQ-mini #trading setup #Elliott Wave In the previous update on NQ-mini futures I shared two slightly different paths to a new higher high: The pullback stopped at 14,500, the upper edge of the Green Box drawn on the chart shown above. Let’s look at the micro structure of the rally off the last important … Read more
$ES #ES-mini #trading setup #Elliott Wave Yesterday before close I posted a micro setup for an immediate rally targeting 4,320. Bulls hesitated and bears tried to break under support 4,275 this morning. That attempt failed and bulls started to push higher again. As long as bulls hold ES over 4,275 we can consider that whipsaw … Read more
$ES #ES-mini #trading setup #Elliott Wave Yesterday I posted a bullish micro path leading higher to 4,325. This is how that scenario looks like this morning: The most obvious path for bulls would be to produce one more push higher in a micro wave v up. However, ES has been meandering the whole night. I … Read more
$ES #ES-mini #trading setup Bulls got another attractive long setup upon completion of a shallow corrective -a-b-c down structure: In a compressed five wave up structure a subwave c of a wave iii up tops at 138.2% ext of the subwave a of iii (the lowest red arrow) and the final wave v up tops … Read more
$ES #ES-mini futures #trading setup #Elliott Wave In my previous update I shared a very bullish scenario that allowed bulls “That very bullish path allows bulls “to test 4,300 with very little pullbacks on the way.” ES-mini hit 4,300 level on Friday. Bulls hit the target quicker than I expected. Let’s start from two alternative … Read more
$NQ #NQ-mini #trading setup NQ keeps following the bullish path I shared in the previous update: Let’s zoom in to see details of that flat consolidation: That a-b-c consolidation (see the red letters) shaped as a bullish Running Flat structure provides bulls with a base for another push higher targeting 14,825. It is possible for … Read more
#ES $ES-mini #trading setup In my previous update I correctly predicted this rally: I concluded: …”Here bulls have a setup to start a push higher either off 4,189 or 4,178.” Here this is how that chart looks now: Looking at that chart I do not like a five wave down structure behind the previous pullback … Read more
$NQ #NQ-mini #trading setup This rally in NQ stretched much higher than I expected. I expected the double brown line (500 MA daily to stop it): I think we deal with a corrective bounce off the June 2022 low. Despite the fact that NQ made a lower low in October 2022 I would consider it … Read more
$ES #ES-mini futures #trading setup In my previous update I noted: “I think that gap up tonight that hit 4,240 target 2 is a completion of the subwave a up. I would expect a consolidation in between 4,240 and 4,186.”. This is path for the expected consolidation: This is how that chart looks like now: … Read more
$ES #ES-mini #trading setup ES-mini spiked to 4,240 level, the target 2 we discussed several times in May 2023 (see the update posted on May 19th). Back then I used negative extensions of the early May 2023 decline to come up with threetarges: (i) negative -114.6% ext = 4,226.50, then (ii) negative -123.6% ext = … Read more
#education #VIX #ES-mini #trading setup Thank you very much to my subscribers! Your support is very important for me! I really want to add value to your subscription. I will be posting bonus articles explaining trading setups and rules I found the most useful in trading. My dream is to combine them together and publish … Read more
$ES #ES-mini #trading setup #ElliottWave In my yesterday update I shared a bullish scenario leading over 4,200: I concluded my report with the following note: “To trigger that bullish setup I want bulls to push ES over 4,170 tomorrow morning. Moreover, that setup requires bulls to start pushing it up overnight and approach 4,170 level … Read more
$ES #ES-mini #trading setup #Elliott Wave analysis (1) The Very Bullish scenario: Yesterday bulls stopped decline right at the edge defending the key 4,118 support. Today we got a move up that could be considered a micro wave i up of a new rally. In the previous update I noted that bulls would have a … Read more
$ES #ES-mini #trading setup In the previous update I noted: “The majority of scenarios I watch argue that ES has hit a strong Supply zone and most likely we will get ES rejected at this zone. The bearish scenario 1 argues for a pullback down to 4,125.” This is how that scenario looks like: As … Read more
$ES #ES-mini futures The primary Less Bullish scenario allows bulls to make one more push higher to tag the target 2 = 4,239.50. But more often than not bulls do not get perfect completion of rallies simply because too many traders who missed the main part of a rally get convinced about bullish prospects when … Read more
$ES #ES-mini #trading setup Yesterday I posted several potential resistance targets: This morning ES hit the target 1 at 4,226 and turned down. This is the path posted yesterday: As you can see it argued for a pullback in a micro wave iv down. Today we have got one: Here Bulls have a setup for … Read more