$SPY May Offer Us a Deeper Count

I find the overnight price action on $ES to be strange and I’m not entirely sure what to do with it at present. It’s a shame to not have been able to anticipate this drop.

On the cash session, the gap is often associated with a 3rd wave, so perhaps we are looking at a 5-wave “C” like below. The expectation would be for the red 3 to get to the orange box, consolidate, then make another low before completing the structure.

SPY


Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make 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.


One thought on “$SPY May Offer Us a Deeper Count”

Leave a Reply

Your email address will not be published.