1/30/16

The market finally broke out of the ascending triangle I was following. Near term  (15 min) I have it working on wave [a of -y. Could be complete or near completion.

There is a gap that can be filled at 1950 and the  inverted H/S targets calls for 1980-2000.

The bulls regained the 20 day SMA and the 50 is hovering near 2007 at the moment. Perhaps a backtest there?

Wave {iv on the 60 min below is ruled out with a poke over 2019.39.

The weekly printed a hammer last week and was confirmed this week along with positive divergence.

So my strategy hope this next week is to find a wave b to buy. Maybe 1t 1920 or hopefully on a backtest of the asc tri at 1910ish.

15 Min 

60 Min 

Daily

Weekly

1/29/16 - AM Update

7:45 AM - Just realized that wave -x pink counts better as a combo corrective; ending in that lil gray tri. Link for a combo corrective here.

7:45 AM - 15 min

7:31 AM - Thru the first barrier. Rejection so far at the next. Maybe another shot to get in long before the complete breakout.

15 Min 

1/28/16 - EOD Update

Not much to add. Looks like the ascending triangle is still playing out. Much cleaner on ES.

15 Min 

60 Min 

ES

1/27/16 - EOD Update

The market continues to chop up and down. Today the most bullish triple nested 1-2 option and nested 1-2 was invalidated.

The double zigzag is still intact with a slight adjustment. Wave -x is an expanded flat and it looks decent. Wave [a and [b both look like three wave structures and wave [c as the impulse down.

15 Min 

60 Min 

 Daily MACD is about to cross up so I still favor wave -y to come at the least.

Daily