Posted by DigiNomad on 18th of Mar 2024 at 11:27 am
SPX 130 - Broke through the ATR and printed a new green one at
the same time as a Demark 9. No cycle indicators recently on
longer time frames. The way I read them, it seems likely we're
still in wave 1 on the longer time frames. On the 5 min, it looks
like we completed 5 waves and are now somewhere in the corrective
process - I only see 1 red section on the ribbon, so maybe wave A
still?
Posted by DigiNomad on 18th of Mar 2024 at 11:38 am
MA Ribbon SPX 130 - Interesting using this for wave counts
instead of looking at somewhat complicated price. I still use both
but I'm leaning more towards the ribbon as I get used to it.
Anyway, the 130 ribbon right now shows a 5 wave pattern completed
to the downside last week which could potentially make today's move
a wave A vs a 1? That's not what I suggested in my last post,
but then I expanded the ribbon and blocked everything else out.
...the market does tend to play sick right before Fed
meetings I think in hopes of conniving more stimulus out of the
Fed. Running hard into Wednesday probably wouldn't play well in the
Fed meeting starting tomorrow.
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SPX 130 - Broke through
Posted by DigiNomad on 18th of Mar 2024 at 11:27 am
SPX 130 - Broke through the ATR and printed a new green one at the same time as a Demark 9. No cycle indicators recently on longer time frames. The way I read them, it seems likely we're still in wave 1 on the longer time frames. On the 5 min, it looks like we completed 5 waves and are now somewhere in the corrective process - I only see 1 red section on the ribbon, so maybe wave A still?
MA Ribbon SPX 130 -
Posted by DigiNomad on 18th of Mar 2024 at 11:38 am
MA Ribbon SPX 130 - Interesting using this for wave counts instead of looking at somewhat complicated price. I still use both but I'm leaning more towards the ribbon as I get used to it. Anyway, the 130 ribbon right now shows a 5 wave pattern completed to the downside last week which could potentially make today's move a wave A vs a 1? That's not what I suggested in my last post, but then I expanded the ribbon and blocked everything else out.
...the market does tend to play sick right before Fed meetings I think in hopes of conniving more stimulus out of the Fed. Running hard into Wednesday probably wouldn't play well in the Fed meeting starting tomorrow.