Like sister, like brother...Longs triggered in the ES. Like the NQ first targets were hit on Friday. Next target for us in the 2120 area. This has potential of being a really good trade. Stay tuned.
SP
Santa could get stuck in the Chimney at the ABCD 2074 target!!This chart shows a confluence point with my "Santa" chart at the 2074 handle.
It's the ABCD Gartley harmonic target for the 666,79 low to the top of a possible Elliott wave ABC leg up to reach 1370,58.
D comes in at the 2074 handle.
RSI is at oversold levels.... but could stay there on a monthly chart for another couple of month. Last time around in 2007 RSI hit the 79.5 area before turning down.
There is a slight divergens emerging on the RSI. It has been at 77.6418 a year ago and has twice attempted to move higher but failed to do so. At present RSI is at 76.0205
Time will tell - as always
Safe trading ladies and gents!
@BLawrenceM
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S&P 500 IndexThe S&P 500 is still ripping & is still going up. Puttin up shorts is
against the trend & can lead to margin calls. But could the S&P500 bullish trend ending soon?
It looks like an ascending wedge, a short would be great if the trend changes. All the indicators are still
green & it did not broke out of the ascending wedge.
But we know.. what goes up will go down someday. Putting in longs might be riskfully.
EW-count Wave 5.... when the light go out Count on the chart...speaks for it selfs.
I'm long at the moment but 2025 seems to be where wave 5 will have resistance...
If we then see a shallow retrace this wave 5 could be wave 1 of 5 ....and a parabolic move could be at our hands
Time will tell .... as all ways!
Safe trading
@BLawrenceM
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SP Bearish EW-wave count 60 minWith this wave count I'm at the moment bearish looking for a move down.
Have made a wave 4 into wave 1 violation and at a 88,6 retracement.
It does look bearish if this is the right wave count
Safe trading Ladies & Gents
@BLawrenceM
How deep is Ur Love ...Bulls?BUYING THE DIP after an almost 100 handle deep 5 wave down !!
EW ma's 13 and 34 making a bull cross - might indicate a BTFD at red c. But also indicating that we might only see a corrective 3 wave move up.
If corrective 3 wave ABC up pans out it should be a 88.6 retrace.
(Making the right shoulder of an IHS at orange B)
SP did make a 5 wave down so a corrective 3 waves up making a wave 2 - could def. pan out
RSI has broken out above resistance but still in overbought area on the 4h chart.... have to show strength after having made the red abc retrace... but might be coming short an start showing divergens...
As always.... time will tell
@BLawrenceM
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3 drive to a bottom & end of corrective ABCD harmonic Looks like Fed is setting the market up for a pop on there announcement later today at 2 o'clock.
Market would then have made a perfect ABCD correction (yellow lines) at the 1.272 fib and looks like a 3 drive to a bottom at the same time (green lines). We would at the same time have seen a gap close
Fisher looks also ready for a bounce making a possible divergens
That would set the market up for a 5th and final wave up.
Time will tell
Safe trading !
@BLawrenceM
Bearish Gartley, Gap close, abc move done.Smells like a diagonal being formed together with a gab close ending up with a Bearish Gartley being formed.
I recommend hands of until clear signals given
Safe trading ladies and gents
BM
