The Elliott Wave pattern as left on Monday, did not follow through as I had expected. Fortunately, before the opening I recognized what was going on and made the labeling changes. That then is what is reflected on Tuesday's Update. Both the NQ and the ES remain in the process of putting in a minuet second wave with today's high likely finishing wave "b" of minuet ii - leaving a "c" wave down to complete the minuet second waves. I have also included and updated the Fibonacci levels. Also, I do discuss what to look for and expect should the markets again pick up the rally and tack on an additional 3 to 400 points.
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.