On an Elliott Wave basis, the ES and NQ continue to present a mixed picture as to what is "the plan" for the balance of the year. I presented several scenarios both preferred and alternates. The internal moves in both markets are coming across as series of 3 wave patterns, which continues to suggest the overall move is correction and therefore continues to build and complete what I'm counting as minute 4th waves. My expectations remain for the markets to make additional new ATHs before completing the Intermediate 3rd waves - although in the NQ that may have already happened as I discuss tonight.
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.