Comparison of the Counts for $ES, $NQ & $RTY

I want to take a moment to compare the counts for three of the main US indices.

If the S&P 500 is, in fact, in a 4th wave triangle, it needs one more high to complete its minor (green) 1:

ES

On the other hand, the Nasdaq 100 does not look as much like it is in a triangle, and it has already taken out its 5/30 high, indicating that its minor (green) 1 may already be complete. So, as the S&P rallies in its 5th (blue) of 1 (green), the Nasdaq 100 should be rallying in its 1st (blue) of 3 (green). And when the S&P pulls back for its green 2, the Nasdaq will be pulling back for its blue 2:

NQ

And the Russell 2000 is different still. Not only has it already completed its minor (green) 1, but it’s also completed its minute (blue) 1 as well and should already be well on its way for its minor (green) 3 way up above us.

RTY

What does all of this tell us? It doesn’t tell us a ton, because internal waves from here to there can all look very different, but, if this is all an impulsive rally, it does tell us one thing of importance: the order in which they should top. So, in other words, the Russell should top first, then the Nasdaq, then the S&P, in that order. So, if we do get a big big rally and you start getting in the mood to short, you can look to that order. If I’m right about this, the Russell will be the first one to stop making new highs, etc.


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.


3 thoughts on “Comparison of the Counts for $ES, $NQ & $RTY”

Leave a Reply

Your email address will not be published.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