ES reversal? Map #1 going forward

2023년 1월 13일

If we completed the B wave up, a C wave down should commence starting today. C waves are notorious for their characteristic buying or selling pressure, panic or fomo at it's peak. A good example was the covid sell off in Feb - March 2020.

This is only one possibility. I'll post more as time goes by and see see how price looks.

Either way I believe we will have a sell off for Friday the 13th and into earnings. If they do rally and get over the 200ma today or next week it would be more bullish. As of now they stopped at the 200ma/upper BB and it should not be revisited anytime soon if the bearish case plays out.

2023년 1월 13일

노트

from Jan 5th - i does seem like an A and B wave has completed.

2023년 1월 13일

노트

on spy if they can get over the blue line we are probably going to make one more high to complete the B

2023년 1월 13일

노트

on the 30minute charts the rsi is already quite low, it would not surprise me to have one more move up like so -

2023년 1월 13일

노트

futures trying to take out the trendline to go higher. no idea if they will do it.

2023년 1월 13일

노트

ps its an objective short, but please use stops in case they go higher