ES1! If $3882 Was The Bottom thienlovvによるCME_MINI:ES1!の分析

ES1! If $3882 Was The Bottom

This is my alternative count. My previous analysis was invalid because the bottom formation at 0.618 fib retracement. I thought it would go lower but I was wrong. In this case if the bottom at $3882 was in, I think the next the target could be $4500 in November. We have a midterm election this year. I would wait for a pull back and find an entry to go long.

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There is a resistance at $4112 but nature of ending diagonal is coming back to where it started which is $4220. Let's see it is possible.

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We couldn't reach $4200 but $4174 is close enough. Next, pay attention at $3800. We might have a RSI divergence right there. Luckily I closed SPY and Apple calls yesterday. Good lucky all.

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I started buying since last Thursday and will keep buying next week. Good luck all.

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DXY still look bearish. Good for the market. If DXY breaks above $111, we may break the bull case plan.

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If anybody curious why we have a double divergence on DXY, it's because there is 5 sub-waves inside of Wave 3, so we needed a double divergence in order to complete the Wave 3. I think Wave 4 would hold around $103-104. This is when we are going to short the market.

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Bears tried so hard to break the formation of leading diagonal. Let's see if it holds $3662. It would be bullish if it does.