$ES $SPX #failed breakout Check out a repeating bearish pattern of September on teh SPX chart below: S&P Daily chart in comparison to the past years 2017 – 2024 You can see that in the majority of recent years S&P rolled over at the very beginning of September. Now let me remind you a bearish … Read more
#Bonus #NVDA #Earnings NVDA will report its quarterly earnings after the market close this afternoon. NVDA Daily chart That straightforward scenario allows bulls to make a major top in NVDA slightly above $200 (202-203). A spike up into the Red Box would complete the whole macro five wave up structure. If we get that spike … Read more
$ES #ES-mni #Green Box Bulls remain in control and they have a decent setup to accelerate the rally by breaking over 6,500: ES-mini 15 min chart Let’s zoom in: ES-mini 15 min chart If we apply the standard retracement tool to the very last completed five wave up move, we would see that the first … Read more
$ES #topping #OMH ES took a dive into the Green Box: ES-mini 15 min chart Under the bullish scenario, we can count that decline as a subwave -b- down of wave -iii- up. That pullback making a higher low allows bulls to start another rally in a subwave -c- of wave -iii- up targeting 6,619. … Read more
Last week we had bullish expectations upon completion of a corrective ES-mini 120 min chart posted on Wednesday We concluded the analysis with prediction of another rally targetng a new all time high. What encouraged me to come up with taht bullish forecast was a clean (a) down, (b) up, (c) down structure shaped as … Read more
#NQ-mini $NQ The Very Bullish scenario is very welll alive: NQ-mini Daily chart Let’s zoom int o a 120 min chart. The drop we got this week can be counted as a subwave -c- of a corrective wave -ii- down: NQ-mini 120 min chart We have got a clean a-b-c- down move against the prevailing … Read more
On the chart you can see a picture perfect textbook corrective Triple Three structure that looks having bottomed: LLY Daily chart We can see that the wave count allows bulls to start a big rally targeting at least 1,226. That is a decent 70% upside from the current price.
$ES #ES-mini #Month Opening Range Yesterday bears tested the key level of support on the monthly timeframe: The two key Monthly levels are calculated by my free Monthly Opening Range indicator. The market axiom is “a broken resistance becomes a trailing support in an up trending market”. Now lets look at weekly and daily levels … Read more
#failed rally I think its too early to bury the “one more push higher” scenario: ES-mini 120 min chart That micro bullish “one more push higher” scenario is based on the assumption that the move up we got in the first part of August was a corrective wave ( b ) up that managed to … Read more
$BTCUSD #macro #weekly Bitcoin completed a five wave up structue of the rally off the major low made in Nov 2022: BTCUSD weekly I expect a large corrective (a) down, (b) up, (c) down scenario in a macro subwave (B) down of wave ( 3 ) up. In the course of that consolidation, bears can … Read more
$ES #ES-mini #Elliott Wave I use yellow boxes to highlight flat consolidations that follow strong impulsive rallies: ES-mini 120 min chart That bullish pattern can be called re-accumulation. Such flat directionless -a-b-c- moves locked inside a box often finds support at the previously made high: ES-mini 120 min chart Note how I drew the green … Read more
$ES #ES-mini Bulls are still in control and as long as they hold ES-mini over the support 6,387.50 they can push ES higher at least one more time in a micro wave -v- up to tag the Red Target Box: ES-mini 120 min chart ES-mini has been playing perfect ping-pong game bouncing off the levels … Read more
$ES #ES-mini Yesterday we correctly predicted another push higher. As we expected, the micro wave -v- up has made a higher high: ES-mini 120 min chart Bulls still can push ES-mini higher because the wave -v- up normally stretches up to 176.4% to 200% or even 223.6% of the size of the decline in the … Read more
$ES #longsetup #a-b-c- pullback #sharp c drop Yesterday we nailed the top of the wave -iii- up and correctly predicted a corrective -a-b-c-d down structure to unfold. This morning we got a sharp drop in a subwave -c- down that has hit the green Demand zone: ES-mini 15 min chart That sharp drop completes a … Read more
$ES #ES-mini #acceleratonrally Overnight, we saw a micro wave iii up top out, followed by a micro wave iv pullback. That dip didn’t last long—bulls quickly stepped in, launching a micro wave v of -c- of -iii– to the upside. So far, ES continues to perfectly follow our bullish playbook. ES-mini 15 min chart Zooming … Read more
$ES #ES-mini #rally acceleration The micro a-b-c down pullback we got on Monday built a base for the second leg up, an accelerated rally in a subwave -c- of wave -iii- up: ES-mini 120 min chart The target 1 for the rally is 6,500. A protective stop has to be placed under 6,397. Let’s look … Read more
$ES #ES-mini ES-mini does not move up strongly despite a decent long setup. I want to share a less bullish scenario for the path of the wave (v) up. ES-mini 120 min chart That less bullish scenario still allows bulls to produce two more all time highs before the five wave up structure of the … Read more
$ES #ES-mini #long setup On Thursday morning bulls failed to defend the broken Monthly Resistance 6,377.50 but in the afternoon bulls saved the day today because they did not let bears to make a lower low. We started the pre-market session over the broken Monthly Resistance. The textbook rule is a broken resistance turns into … Read more
$ES #breakout That strong break over the Monthly Resistance 6,377.50 puts bulls back into a driver’s seat. I noted yesterday: …To start a trending move up bulls need to break over the Monthly Resistance 6,377.50 ES-mini 120 min chart 6,428 is the secondary Daily Resistance for today (that level is calculated by the Cycle Trader … Read more
#MonthOpeningRange $SPX $ES We have formed the Month Opening Range: To start a trending move up bulls need to break over the Monthly Resistance 6,377.50. To start a trending move down bears need to break under the Monthly Support 6,239.50. This is how a bullish wave count looks like: ES-mini 120 min chart We can … Read more
$ES #reversal #breakdown The sharp drop we got on Thursday and Friday last week made serios damage to the bulls’ army. The weekly trend was turned down. Note that the overnight bounce popped back up to the broken weekly support 6,307.75. As long as bears hold ES-mini under that level any immediate bullish scenario remains … Read more
$SPX $COMPX $ES The Very Bullish scenario I tracked for weeks got invalidated by the drop under the stop level 6,368: ES-mini 120 min chart So far I can not find a bullish wave count that allows bulls to continue the rally off the April 25 low after that drop. But charts of S&P 500 … Read more
$ES #FailedBreakdown #LongSetup Yesterday afternoon I published a quick update and shared a wave count that considered the spiky drop as the final subwave c of a subwave -b- down of a wave -iii- up, the low of a corrective decline making a higher low. Look at the tricky -a- down, -b- up, -c- down … Read more
$ES #ES-mini #trading setup #failed breakdown Bears triggerred protective stops under 6,391: ES-mini 15 min chart We can count that drop as a subwabe -c- of a correctve pullback in a subwave b down of wave iii up. Bulls need to reclaim that level within 24 hours to trigger a bullish failed breakdown setup. If … Read more
$GC #gold #triangle #long setup The triangle shaped consolidation looks having completed in Gold: GC Daily chart Bulls have a setup for another leg up targeting 4,000. The breakout level is 3,508. The first indication of the upcoming breakout would be a move over 3,432.
$ES #ES-mini #Elliott Wave Under the very bullish wave count we are supposed to get a flat -a-b-c- down consolidation in a subwave b down of wave iii up: ES-mini 15 min chart Yesterday evening decline stopped right at support of the blue trend line that connected two previous peaks. So that was the textbook … Read more
$ES #ES-mini #impulsive rally In my weekend update posted on Sunday I argued that the rally could take a pause once it hits that test level 6,462 – 6,472. Overnight ES-mini topped at 6,457.75, four points off the target. Under the Very Bullish wave count we should not expect a very strong decline off that … Read more
$ES #Very Bullish #Acceleration Bulls keep pushing ES-mini higher, as we expected. This is our primary Very Bullish wave count / scenario: ES-mini 120 min chart Let’s zoom-in to a 15 min chart. ES-mii 15 min chart The Red Box is the macro test zone. A negative -138.2% extension of the preceding corrective pullback is … Read more
$ES #ES-mini #ElliottWave #trading setup This is our primary Very Bullish wave count: ES-mini 120 min chart The wave count argues for a much bigger rally targeting 6,600 for a micro wave -iii- up and for 6,700+ for the top of the wave (iii) up. However, as I noted yesterday, the immediate micro resistance is … Read more
$ES #acceleration #long setup On Tuesday I shared a promising textbook i up, ii down setup that allowed bulls to start a big accelerated rally: ES-mini 120 min chart posted on July 22 48 hours later ES-mini added 60 points: ES-mini 120 min chart now The nearest resistance that will put bulls to test is … Read more
$TSLA #triangle Yesterday I shared this path with subscribers of my chat room: TSLA 120 min This morning TSLA took a deep dive and hit support of the blue trend line: TSLA 120 min chart This is where bulls should step in to make that bullish wave count work. A safe approach to trade that … Read more
$ES #ES-mini #EllittWave #trading setup Bulls may argue that they have built a micro i up, ii down long setup to start a rally targeting 6,600: ES-mini 120 min chart The ideal scenario for bulls is that they do not let bears to test the key support 6,333 again: ES-mini 15 min chart Break back … Read more
$ES #ES-mini #ElliottWave This morning bears attempted to break the broken Monthly-Resistance-turned-support again, but failed: ES-mini 120 min chart The best adrenaline shot for bulls is when bears fail to push price back into the range. Bulls have a big advantage to start pushing ES-mini up in an accelerated phase of a rally in a … Read more
$ES #ES-mini #long breakout setup ES-mini keeps following the Very Bullish path Nicely! ES-mini 120 min chart ES has consolidated in a flat and shallow structure (see the yellow rectangle). That consolidation at the top of the preceding impulsive provided bulls with a setup for a strong rally. A flat and shallow consolidation on top … Read more
$ES #ES-mini #Elliott Wave #trading setup Overnight price action delivered a textbook bear trap—bears briefly pushed below the previous low, only to be met with a swift and powerful bullish reversal. This deceptive move cleared out weak longs and triggered stops, creating the perfect springboard for a new leg higher. The entire corrective structure is … Read more
#BTCUSD #Bitcoin #one-more-high Bitcoin has been moving along our path nicely. On Monday morning I shared the path with subscribers of my trading chat room: BTCUSD 120 min Below you can see how that chart looks like now. BTCUSD 120 min chart As you can see, Bitcoin dropped down to the Green Box. Here bulls … Read more
$ES #es-mini #ElliottWave #breakout #failed breakout We’ve been closely monitoring a Very Bullish Scenario that could be triggered by a decisive break above the Monthly Resistance at 6,333. ES came back up to the Monthly Resistance 6,333. Break over that level confirms intramonth bullish trend. This is the Very Bullish path we have been watching: … Read more
$ES #ES-mini So far bears have been holding ES under the broken Daily support 6,296: Price has been consolidating inside the Month Opening Range of July: So far this pullback looks like a flat and shallow consolidation “through time” expected by the Very Bullish scenario: ES-mini 120 min chart Morning Market Outlook The most straightforward … Read more
$ES #ElliottWave #trading setup #shortcovering Bears are getting disappointed about very tame reaction to the complete looking micro wave count of the rally: ES-mini tick bar chart Bears need to push ES unde 6,277 to produce a stronger drop down to 6,208. Under the primary bearish scenario that -a-b-c- move down would be a subwave … Read more
$ES #SPX #Elliott Wave ES-mini has made enough waves to consider a rally off the April low completed. We expect a corrective (a) down,(b) up, (c) down structure to unfold. So far we did not see any strong push down. That does not make me doubt that topping scenario. It’s pretty normal when a move … Read more