ES1! - S&P 500 Bear Count

The 0 to 5 count is very helpful in determining the current state of Swings & Pullbacks.

Any Swing or Pullback can be counted from 0 to 5.
When 5 is reached, it restarts from 0, again to 5, just in the opposite direction.

This count is most effective when you count the real Swings. By "real" I mean, if you follow these Rules:

Up-Swings:
A new high is CONFIRMED when the last low got broken

Down-Swing:
A new low is CONFIRMED when the last high got broken.

Here in the S&P 500 we see 3 different counts.

- grey = Pendulum Swings, the biggies
- yellow = Swing count withing the Pendulum Swings
- red = Pivot count within the yellow Swing count

Currently we are in a overall down-count.
Nr. 3 of the grey, Nr. 5 of the yellow and Nr. 3 of the red. So, a very good short opportunity.

Another short indication is the nice dobule-top at the white center line of the up-sloping pitchfork.

And finally the bear flag where you see the red 1-2 count.

If all this fails, then we see a much higher grey 2,4,5 high count.

Let's find out.

Bình luận:

So far we're on track.
Let's see if it's really tanking.

Bình luận:

All tough I expect a intraday pullback, mid term we will see the grey leg 3, a new low.