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Spy500

ES Daily Harmonic Elliott Wave AnalysisOverview: in the update of yesterday, the expectation was that we have completed wave 1 of c of (III) and need a pullback as wave 2. Update: the pullback in the so-called wave 2 continued for a short time and range afterwards and the price action made a lower low then. Now, based on the structure that I see, I think we are still in wave b of (III) developing as a triangle. As I mentioned before, this is a volatile market that we need to move day by day and adjust our expectations accordingly. Note: what about the count of yesterday? is it still valid, that we are in the very early stages of wave 3 of c of (III) at the moment? yes, it is and it can actually play out, but I don't expect that much of huge bearishness yet! we may need some more time retesting the weekly 200sma.
CME_MINI:ES1!
by bamdadsalarieh
SPY S&P 500 ETF game plan for this weekAfter last week`s rebound played perfectly: As well as the the Head and Shoulders Bearish Chart Pattern: For this week i have selected the 1h timeframe to understand better the possible movement. I believe that we will see a rebound once again at the beginning of this week after the speaks of Chicago FED Presidend and Vice Chair of FED on Monday and Cleveland FED President on Tuesday, but the market will close once again red on Friday, after the bank reports, where i think we will hear about revisions and recession incoming. Looking forward to read your opinion about it.
AMEX:SPYLong
by TopgOptions
5
ES Daily Harmonic Elliott Wave AnalysisOverview: let's review the expectations of the previous update: As we expected, ES continued higher to form leg C of zigzag. Now, we have completed a zigzag in wave b of (III). What is next? there will be a pullback at this point and its structure and extent will lead us on what to expect. This is a volatile market that we need to move day by day and adjust our expectations. Update: I now see a double zigzag being complete in wave b of (III), and we have initiated wave c of (III): There is one low-probability alternative count left in my mind: wave X (green) of b of (III) is playing out as a flat, and right now we are in it's leg C. Once again we need more subwaves to develop to be confident on which scenario is playing out, but for now we will stick to the primary count.
CME_MINI:ES1!
by bamdadsalarieh
ES Daily Harmonic Elliott Wave AnalysisOverview: let's review the key points of the previous update: I am now changing my primary count, where wave a of (III) is complete and we are in wave b. We see that wave b is developing as a zigzag correction with its wave A being complete. Update: As we expected, ES continued higher to form leg C of zigzag. Now, we have completed a zigzag in wave b of (III). Today, ES peaked at 3808.75, with the 0.667 retracement of wave a of (III) at 3807.5. What is next? there will be a pullback at this point and its structure and extent will lead us on what to expect. Wave b of (III) can be complete or it can develop as a flat or a triangle, so be careful that we have more than one possibility at this point. This is a volatile market that we need to move day by day and adjust our expectations.
CME_MINI:ES1!
by bamdadsalarieh
ES Daily Harmonic Elliott Wave AnalysisOverview: let's review the update of September 29th: With the price action of today, I think we have 2 possibilities left for wave b of (III): it's either a triangle or a flat (I prefer the triangle, but it doesn't mean the flat scenario is not possible). Update: the accuracy of analysis is obvious if we look at the current hourly chart. Now, I see us in wave 2 of c of (III). Note that I did not include the lower-degree counts on the chart so it would be cleaner. I have an alternate count where I see wave a of (III) near completion, but that's of low probability for now (when we see more price action, I may switch to that count as my primary).
CME_MINI:ES1!
by bamdadsalarieh
SPY S&P 500 ETF Double Bottom Technical ReboundIf you haven`t shorted the SPY Head and Shoulders Pattern: Then you should know that a technical rebound refers to a recovery from a prior period of losses when technical signals indicate that the move was oversold. In this case, the Relative Strength Index momentum indicator of SPY S&P 500 ETF is at 24.05 on a Double Bottom Reversal Chart Pattern. A double bottom is a reversal chart pattern in technical analysis that describes a change in trend. Even though i am overall bearish on the economy, buying a strong financial instrument when the RSI is below 30, would make a case for a potential short term reversal. My ultimate price target is $338, but for now i am bullish. Looking forward to read your opinion about it.
AMEX:SPYLong
by TopgOptions
1
ES Daily Harmonic Elliott Wave AnalysisOverview: let's review my expectations on the update of yesterday: I believe we completed wave a of (III) this morning at 3613 and initiated wave b of (III). So far, I see that we have completed a zigzag in this wave b. We have the possibility of having all the three correction types in here. We need a pullback and its extent will determine the type of correction that we are having. Update: with the price action of today, I think we have 2 possibilities left for wave b of (III): it's either a triangle or a flat (I prefer the triangle, but it doesn't mean the flat scenario is not possible).
CME_MINI:ES1!
by bamdadsalarieh
SPY Puts should cash when the market opens.Ill start being more straight to the point. In my previous post I stated that the 370 level was a pivotal one. and you have seen for yourself time after time that it has been rejecting it all week. IDK why trading view is hiding my last post. Ive seen many profiles on here that should be deleted. hopefully this was the last time. Now today is Thursday and we have one more day to close off the week and the month. No one really likes September tbh for its historical bearishness. But what I do like is the buying opportunity it presents for my portfolio. Please watch the retest of the support off 363.09 and 360.99 Here's my entries for SPY today CaLLS 367.64. Puts 366.15
AMEX:SPYShort
by Courtneyd
ES Daily Harmonic Elliott Wave AnalysisOverview: it has been a long while that we have been perfectly predicting the daily price action. Finally, today was the day that we got a minor invalidation. Let's review what was the expectations of yesterday: The price action followed our revised expectations of this morning. We are in wave (A) of 5 of a of (III). Potential target for wave a of (III) bottom: 3550-3595 Update: This morning before the market open, we went lower to the exact area I had as 5 of (A) and then had a pullback to the area I had as wave (B) at market open. This was the point that the actual price action diverged from our anticipation of tagging another low as wave (C) 5 of a (red) before reversing higher. The new labeling I have for wave 5 of a of (III) is fine in regard to its structure, but it is a bit shorter than the minimum fib ratio for a typical wave 5 (that was actually the tricky part). Now, I believe we completed wave a of (III) this morning at 3613 and initiated wave b of (III). Don't forget that we were not expecting the bottom to be much lower (3550-3595). So far, I see that we have completed a zigzag in this wave b. This means we have the possibility of having all the three correction types (double zigzag, triangle, or flat) in here. Hence, the only thing I can say at this point is that we need a pullback and its extent will determine the type of correction that we are having. Some points that can act as a support for the pullback are 3670, 3694, and 3718. Corrections are tough to predict by their nature and specially in this volatile market, the best thing is to minimize your exposure until the price action is crystal clear again.
CME_MINI:ES1!
by bamdadsalarieh
7
ES Daily Harmonic Elliott Wave AnalysisOverview: Today we finally broke the Jun 16th low. This is what I was expecting for months, in fact let's check my ES review of June 17th : "What comes next is another wave X and then the third zigzag, Z to the actual market bottom." In this whole time, we were strictly on the same higher-level count, only doing minor changes to the structure of subwaves as they developed. let's review the expectations of yesterday's update: Wave 4 completed as a flat, then we went lower to complete waves a (purple) and b (purple) of 5 (cyan) of (C) (yellow) of 3 (light green) of a (red) of (III). What follows is wave c of 5 to complete wave 3 (light green). This morning I updated the count, expecting us to go lower as wave 5 of a of (III). Update: the price action followed our revised expectations of this morning (the general structure was a bit different than I considered yesterday). Looking into the 15-min chart, I think we are in wave (A) of 5 of a of (III). Potential target for wave a of (III) bottom? * Based on fib ratios for wave 5 of a of (III): 3550-3595
CME_MINI:ES1!
by bamdadsalarieh
3
ES Daily Harmonic Elliott Wave AnalysisOverview: let's review the expectations of the update published on September 24th: The price action followed our expectations precisely. We have completed wave 3 (cyan) of (C) (yellow) of 3 (light green) and wave 4 is developing as a flat, which should be completed pre-market, and finally a push lower to complete wave 3 (light green) of a (red) of (III) of c of Z. Update: wave 4 completed as a flat, then we went lower to complete waves a (purple) and b (purple) of 5 (cyan) of (C) (yellow) of 3 (light green) of a (red) of (III). What follows is wave c of 5 to complete wave 3 (light green).
CME_MINI:ES1!
by bamdadsalarieh
ES Daily Harmonic Elliott Wave AnalysisOverview: let's review the expectations of the update published on September 22nd: The price action is following our expectations nicely. I think we completed waves a and b of 3 of (C) of 3 of a of (III) and we should head lower to complete wave 3 (cyan) of (C) (yellow) of 3 (light green) . Further, this was my pre-market update to the count (SPX chart): Update: The price action followed our expectations precisely. Looking at the 15-min chart, I believe we have completed wave 3 (cyan) of (C) (yellow) of 3 (light green) and wave 4 is developing as a flat, which should be completed pre-market, and finally a push lower to complete wave 3 (light green) of a (red) of (III) of c of Z.
CME_MINI:ES1!
by bamdadsalarieh
Potential Failure in SPYSPY created a S/R Box between 362.17 - 431.73. There was an adjustment bar formed in July. These generated a weak point (danger zone) between 362.17 - 371.04 Should you set your stochastic to be the width of the box that was created (currently 4 bars), Jan - Apr was also a 4 bar box. When Stochastics move below 30, it is an indication that it is about to challenge the lows. Currently the stochastic is 17.32, this is suggesting that there is 17.32 of the box range left until the bottom is breached. The Apr 22 value for the 4 period stochastic was 1.96 suggesting weakness and a challenge of the low. However, there is a danger zone. 371.04, if prices could bounce from here (and on Sep 23, the price is 374.22 with a low of 373.44) it shows that there is strong support here. Should prices enter this zone, if fails to hold, the bottom will fall out. The next area of potential support could fall (based on calculations Sep 23) to between 340 - 350. However, there is still 6 trade periods left in the month. End of the month calculation could result in a lower target range being generated.
AMEX:SPY
by priceprophet
1
ES Daily Harmonic Elliott Wave AnalysisOverview: let's review the expectations of yesterday: I think we started wave (III) of c of Z today. This is going to be the start of a massive bearish leg. I think we are completing wave (A) of 3 of a of (III). This morning, following our plan, I updated my count in this way: Update: the price action is following our expectations nicely. I think we completed waves a and b of 3 of (C) of 3 of a of (III) and we should head lower to complete wave 3 (cyan) of (C) (yellow) of 3 (light green). Note that I can just publish a count on the 4-hour chart and easily don't go into detailed count, which also increases my overall "prediction accuracy" considerably, but my aim is to also help daytraders out there :-)
CME_MINI:ES1!
by bamdadsalarieh
10
ES Daily Harmonic Elliott Wave AnalysisOverview: Finally, after a few days of vague price action, the structure is clear to me. Since September 19th, I had the idea that we have bottomed for wave (I) of c of Z and need a pullback as wave (II). The structure of wave (II) developed yesterday and the fact that it was very shallow made me to think that we are developing a flat as wave (II) and was expecting a rally to the 3960-3986.25 zone today before wave (III), which did not happen. Yesterday I warned about this possibility: "Note that the alternative count is that we are in wave (III) to the downside with a very shallow wave (II)." Update: I think we started wave (III) of c of Z today. This is going to be the start of a massive bearish leg, which I expect to move fast. Let's look at the hourly chart: I think we are completing wave (A) of 3 of a of (III).
CME_MINI:ES1!
by bamdadsalarieh