SP500 – Road Map
Every time I plan to step away from the screens for a few days, the market doesn’t like it and adds some entertainment to the daily routine. Yesterday I outlined a possible path for today; now we have enough data to explore it at the micro level.
ES Futures – Road Map
It looks like ES futures chose the blue path, formed wave B of the reverse complexity, where each subsequent wave is simpler than the previous one, and completed the first impulse down right after the cash market closed. Now it is attempting to form an impulse of a higher degree.
Let’s see what size this impulse produces. It could be considered the first sizeable leg down, potentially wave (i) of C. Once the impulse completes, we can approximate the length of wave C.
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Happy Trading!
