Emini SP500 Intraday Review




This E-Mini SP500 contract  has many of the same wave patterns as the DJIA has but there are also differences at times that conflicts with anything the DJIA has produced.  In this case and starting an impulse wave is riding much higher than the DJIA, which could produce extensions on the way up.

I also have two wave bottoms that must not get breached, especially the first one just below 2090.  We are about 40 full points away from reaching a new record high with my charts, and this can potentially be getting close to a Primary degree “B” wave top.  I have drawn out and posted on a page that gives us an idea what can happen after an expanded flat has formed.   After a year of going up, down and sideways, the market is only down 40 points or so.  Meanwhile, many single stocks have been decimated, and we sure can’t forget the big oil crash as it must have erased a trillion or more.

An upside breakout is the preferred path at this time, but  a diagonal may also be in progress.   



Hits: 0

Share this...
Email this to someone
Print this page