Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Red Dragon leo (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

ES Morning Update January 14th 2022

% of readers think this story is Fact. Add your two cents.


The bears finally started the attack yesterday and this morning the bulls are barely holding the line. I did see a “possible” FP after the close on the SPY at 467.39, but it could have just been a late fill… not sure? It’s still some hope for the bulls I guess, but it’s not looking likely today… maybe Monday, who knows?

In reality it’s just a normal retrace bounce in a (very likely) bigger wave C down… meaning I’m still bearish here even if we see that bounce today. Looking at the last two weeks you can see that area is a mid-point zone, so closing around there seems reasonable if that’s the plan?

However, C waves can be brutal and don’t usually like to let traders out once trapped on the wrong side. So I wouldn’t count on that “possible” FP as being hit today for sure. Maybe it does, maybe it doesn’t… but if it does then it will just be subwaves inside the medium C wave down.

There could be many more subdiving waves as well, and they are too hard to count. I only know my downside target is around 441.65 on the SPY and it should be by the end of this month… probably by the FOMC meeting on the 26th.

My best guess is that we see a 5 wave drop (call them tiny waves) for the first small wave 1 down inside medium C down. I suspect it bottom by next Tuesday, and then we get the small wave 2 up into OPEX, which should be three tiny waves… ABC basically. Then the following week we drop for the small wave 3 (which should also have 5 tiny waves inside it but they will likely be very fast and short lived) into OPEX on the 26th.

From there we should get a small wave 4 up and then 5 down to finish medium C by the end of the month. But that 5th wave could truncate short and not take out of the low of the wave 3… basically a double bottom (all just my “best guess” so don’t hold me to it). After that we rip to 5000 SPX/ES into March. Have a great weekend.



Source: https://reddragonleo.com/2022/01/14/es-morning-update-january-14th-2022/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.