$ES / $SPX / $SPY wave count update
Here is the 12/1/21 after hours wave count update for ES. Obviously SPY and SPX will be similar but this can be cleaner to count at times.
Today we sliced right through a demand zone and parked right on the 50% retracement - also the last peak AVWAP. Based on this move to the downside this can only mean 1 thing - it was a wave 3... This changes my count and now this is what I see being favored. I think we likely are looking for wave 3 bottom (may have found it today) but we still need at least 1 flush lower to complete the 5th wave drop.
I am seeing most likely bottom here to be between 4430 and 4480 on ES. I truly think we can tag that tomorrow - especially if this thing sells overnight.
At this point I think buying the dip with time is a must. My worst case scenario for ES is 4360-4400
Today we sliced right through a demand zone and parked right on the 50% retracement - also the last peak AVWAP. Based on this move to the downside this can only mean 1 thing - it was a wave 3... This changes my count and now this is what I see being favored. I think we likely are looking for wave 3 bottom (may have found it today) but we still need at least 1 flush lower to complete the 5th wave drop.
I am seeing most likely bottom here to be between 4430 and 4480 on ES. I truly think we can tag that tomorrow - especially if this thing sells overnight.
At this point I think buying the dip with time is a must. My worst case scenario for ES is 4360-4400
إخلاء المسؤولية
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.