Ewj: elliott wave

Looking On the daily time frame.... the Delta could be hinting a more of a Mark down..

Needs to bust through that lesser 1:1 shown on that last chart to get things really moving for the bears and to confirm the late delta point.

Traffic light rules as usual...
 
Got to that 1;1 target and more, so the odds are moving for a larger Mark Down of that higher delta point.

Next ALt is the -39.5 with usual Fib dymamic points in between.. :)

15min ES
 

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Coal, Steel, and Energy names rolled over pretty hard after 1PM Eastern.

They are treading "thin" on support here after inching up over the last month or so with the moving averages.

If Crude corrects back down, these chart patterns could break pretty HARD and take some important support away from the market, especially after financials have already scored big gains.
 
Quote from Mup:

larger a-b-c pattern for the 1:1 around 803.75...

yesterday was the a wave this morining the b , now in the c

see what you think.....

15min ES
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nice call mup,thanks
 
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