ES Morning Update August 29th 2022

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The move down on Friday is continuing this morning, but as I said on the post I did over the weekend it should be finished by mid-week I think. So I'm not too worried about it as nothing I see suggests this is the start of the drop to retest the lows.  It's still just part of the 5 wave move up to finish Medium Wave 1.

Assuming we're in the C part of an ABC down for Small Wave 4, the drop on Friday was certainly the wave 3 inside that C wave. Over the next couple of days we should see those Extra Tiny Waves finish and therefore finish Tiny Wave C down... which ends Small Wave 4 too.

As I said in the Saturday post I'm glad we are back on track with the Seasonality Chart as now there's much higher odds of reaching 4400+ for a better short compared to previously when I thought the last wave up would truncate short in the mid-high 4200's.

Lastly this coming weekend will be a 3 day one for the Labor Day holiday, and it will kick off the start of the positive time period from the Seasonality Chart with the negative period ending this week.  So all is still good for early September to put in the high and finish this first leg up from the 3639 low.  Going into the end of September my work on "Codes" will be tested.  If the low is taken out I'll be wrong on that theory... or they will have changed the code?  Only time will tell.  Have a blessed day.

 

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