As expected, prices were able to penetrate Moving Average Resistance. I believe there is still higher to go, but a small correction is due on a fourth wave. The degree of this fourth wave is not clear and its depth …
No change in our view… However, the P&F chart is showing a bullish trend. Let’s stay aside and wait for the news. As long as 1.2985 is in place we will keep our bearish count.
While I was long using P&F in search for a wave 5, I exited my position yesterday with a small gain. Now I prefer to stand on the side because the strange price action we are seeing. Key Support is …
As I mentioned before, while the larger count is still bearish, the recovery has many possibilities. One of them is represented with the red count that sees the end of wave ((ii)) within the blue rectangle. But that is not …
Yesterday we decided to favor longs using P&F. The strategy was correct again and we had a very profitable trade. Today, I am not sure about the ES intentions… I am still using the 15 min chart to show you …
Prices reached the support area highlighted in my chart and more specifically they reached the exact projection we had at 1.2535. However, so far, prices have not been able to move above the upper boundary of the channel nor above …
We have just witnessed the problem with “ugly” counts and why we should always trade what we see not what we think. The bearish count is still possible. I just moved the ((4)) to the right. As long as the …
This is the chart I showed you last night and mentioned the triple top. With that in mind, I put some labels on it. Notice that a break of the red uptrend line would be an early warning that the …
From Yesterday: “7052 will need to hold if indeed a third wave is developing…” 7052 did hold and we can now label the advance from it as the first wave of a larger impulse. However, the internals of this first …
Price action has been so range bound that we can not make progress in our analysis. Having said that, I should admit that trying to label the SPX Cash impulsively is truly a challenge. I have added the Guppy Indy …