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Economic Pressures Weigh On Banks And Borrowers

Economic Pressures Weigh On Banks And Borrowers

Banks and borrowers are under…

Is Barrick Gold Close To Finding A Bottom?

Is Barrick Gold Close To Finding A Bottom?

Barrick gold has been a…

MortiES' EOCinco de Mayo Analysis ~ Is Wave 4 Over?!

Premium Update

Is Wave 4 over? That is the question. Take a look at the chart below and you decide. I'm 80/20 on it being over based on the four points made on the chart. But there is still a potential for more downside, so trade carefully. Nothing that happened today was unexpected. Our scenario from days ago is still intact, so I'll continue to follow an analysis that has been pretty spot on for this W4.

The W5 targets that I've identified on the chart below are based on today's low being the end of W4. If we go lower, that will cause me to have to adjust the W5 targets. Remember, these targets are magnets and resistance. Just because ES gets to these targets does not mean that W5 will end. They may be the resistance that ends a fractal wave of W5, which after some consolidation the market can break through. The strongest of the targets is the 161.8% external retracement of W4. These targets won't come into play for days, but I know that traders like to look ahead and see where we might be going.

ES 240-Minute

The best way to see what we do on a daily basis and on an intraday basis is to try our Premium Content. If this site doesn't add back more than the price of admission, then you have no obligation to subscribe after one month, and you will have still learned some Elliott.

If you like what you see here, wait to see how MortiES's analysis can assist you in your everyday investing or trading strategy! Go ahead., Click on "Subscribe to MortiES Premium" and give it a try! I am offering a 30 day free trial period.


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