So far, bulls holding this move off the low.
The key to continuation remains forming a higher low.
If bulls succeed in forming this higher low, I'll be looking to last week's highs as the first significant objective/checkpoint.
A wild move there, getting nearly to the lows in this single 4h candle
This (nearly) brings the indices to the HTF area of interest... I'll be watching for a significant bottom to form as this liquidity/demand below is reached.
Pretty sharp bounce today, but still likely a B-wave:
- $ES did not sweep Friday's low, so for the low to be in there would have to be truncation
- Still facing supply
- Liquidity below after bulls failed to defend key areas yesterday
- Retracing an impulsive move down
So, perhaps a deeper B, but i do not think we've seen the bottom yet.
Things could settle a bit before completing the retrace early next week. Unlikely that we see any major resolution this afternoon.
Strong reactions from Friday's lows, after sweeping those liquidity levels into the early reversal windows.
2H reversal structures have formed and bulls have taken back active control.
I am looking for 25,893 and 6857 as the next upside objectives - (these are the key junctures from the newsletter).
A brief, corrective pullback would be welcomed in the short term, to set up long opportunities for me towards these levels.
Let me know your thoughts and Ill continue sharing...we all should work together!
$ES back into yesterday's range, $NQ sliding towards the week's low. This supports the idea of the w(2)s still in progress. The AOIs below are still very attractive. Let's see if price can finally get there to complete these pullbacks
Given the relative strength on $ES, a running flat is possible - so, i'll be on watch as early as 6838 Otherwise, everything is the same. Expecting these C-waves to conclude what have been some ugly w(2)s, looking for expansion to return in w(3) soon!
“Where’s the Market Go Next?”
$ES hovering above Friday's low ($NQ already reached it), I find it pretty likely $ES will get there.
What I'm looking for in terms of the reaction is for sellers to FAIL to find continuation below.
So, a reversal structure that gets back above Friday's low would be a great start
That's what I'll be watching for in terms of the w(2) bottom.
In the meantime, we could get some back and forth. Keeping an eye out for scalp opportunities, but the main event will likely follow a sweep of Friday's low.
#ES #NQ #QQQ
Checking back on the mid-term situation... The divergence flipped this morning with $ES retesting the low and $NQ (at least so far) attempting a higher low
In both cases, I need to see price above last week's lows for **SWING** longs.
Intraday stuff still in play, but for mid/HTF purposes I need that reclaim of last week's lows
Still looking for NQ to form that higher low here and proceed back through HOD, but with price settling back into the range here, it likely needs one more sweep first. I'll be on watch again when we get there.
Still pushing towards HOD, stops raised here into profit - if this is going to breakout, it needs to sustain through this area. At the HOD, if reached, I'll trim down to runners which will become a free swing position.
Buyers did not step in from those liquidity areas, Now, back to yesterday's lows Mid-term context of the w(2)s is still in play. Still in demand, at fibs and generally at mid-term AOIs. Things are just 'reset' here. Fresh reversals will be needed to re-activate upside. Bulls want to see a quick recovery back above yesterday's low on the LTFs. For swings, getting back above last week's low will still be key. For the moment, trend is down, so bulls will need to change that to get things going again. Not hunting at the moment. Here i pause and evaluate the reaction.
Sideways action overnight, staying within yesterday's afternoon range.
Still likely part of this same w2 pullback. AOIs remain the same.
Until there's a sweep, the action within these ranges is likely to be choppy.
It's much easier to trade the move back through ranges (after a sweep) than to trade from the chop towards the sweep. So, I'll begin the day patient.
Overall, the situation is the same as last night. Watching for a sweep to conclude the pullback, bulls will need to step in and defend yesterday's lows.
Sharp rally @ open, clearing yesterday's highs and getting up to wednesday's highs!
With this rally coming direct from consolidation (triangles), this is likely still part of the first impulse from the week's low.
MEANING... A w2 still to follow
When it forms, I'll be watching for:
Shallow/sideways w2: Hold above yesterday's range, direct continuation
Sharp w2: Sweep through yesterday's range
Unlikely that it'll end within that range.
In the meantime, trending mode in play intraday until the w2 begins.
