Markets had a fairly strong Globex session on Sunday. The NQ made an additional high which I have noted as the completion point for the minuette 3rd wave. The ES did not leave in place last week high as the completion point for its 3rd wave. From those highs, both markets are within smaller minuette 4th waves with both reaching initial support levels at the Fibonacci .236 level. I discuss the possibility of a more "detailed" A-B-C zigzag structure to form the 4th waves and therefore I'm leaving open that tomorrow's trade could be more inside today's ranges. Ultimately I'm still looking for additional new ATHs before the Minor 5th and Intermediate 3rd waves are complete.
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures ...
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC Rule 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will, or is likely to, achieve profit or losses similar to those shown.