$ES and $NQ Targets

I was hoping to see a bigger drop than we did; I’m glad we saw a drop (it would been painful to be on the wrong side of that), but without deeper selling, we risk a pretty bullish setup here.

I pointed out a few things today (here), and I found a way to count the Naz as a correction (here), but the count I provided for the S&P (here) works well on the Naz, too, so I’ve reworked that and will share it.

So, note the 78.6% retracement on $NQ here. Good spot for a 2. Note the potential inverse forming. This is why taking out prior lows is so important, so we don’t form stuff like this. Wave 3 target is the orange box, the measured move for the inverse as a whole is even higher, and I’ve stuck the minute (blue) 5 up there where that measured move is.


I just shared this count for $ES, but did not provide a wave 3 target, so here it is (note an inverse-like structure on this as well).


I am presently unsure on the Russell and the Dow, so I will keep watching those for the time being.

Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.

Leave a Reply

Your email address will not be published. Required fields are marked *