Weekend Update ES

ES The ES continues its topping process. Did we have an ending diagonal? Maybe...maybe not.

I'm just not sure. This whole structure off the 7/29 lows has been BS. Nothing but choppy overlapping waves that is extremely tough to discern (but easy to trade). In a word - corrective.

For the time being, I will assume that the orthodox high is 1006.50, which was an ending diagonal and minor A has completed. I have a count on the chart, but it is speculation at this point.

I will keep scalping like a demon and continue to take their money. The count will resolve itself soon enough.

Speaking of taking their money, please tell me that Kool and I were not the only ones selling this pig at 1015. I had 17,638.832 numbers in that area AND the boundary line AND a completed structure AND divergence (denoted by red circle). Free money folks.

SPX Here is my big picture view. As I stated last week, EWI has changed their count to reflect a double zigzag.

This is probably a better interpretation, but not without unanswered questions. As I also stated, there is really no difference because you end up in the same place at the same time.

The next good timing (KoolsTools), on a daily basis, is a cycle peak that comes in 15 trading days on Friday the 28th. This comes from the 5/15 and 7/8 lows.

Folks, you don't need to know where the next 50 points are going. Find out where the next 4-6 are headed and you can live like a king.