ES Extends C-Wave, But Bearish Continuation Remains Intact

TRIGGER TRADES

04-08

$E-mini S&P 500 - main 2606(ESmain)$ | Yesterday's first downside trigger didn't fire.

Instead, price expanded the C-Wave into resistance:

Equality (A=C), 61.8% retrace, & Daily FVG.

5 waves down.

3 waves up.

STILL corrective.

→ Next: $SPDR S&P 500 ETF Trust(SPY)$ forms a bullish Daily FVG on this push.

Inversion of that gap = sell signal for the next wave down.

→ Catalyst: CPI Friday.

Leaning sell-the-news ~ pending confirmation.

New levels. Same outcome.

The current $SPY bounce is the largest % rally since the 696 peak.

That means price is correcting at a higher degree, which means the next wave down will also be higher degree.

Whether this labels as a 2 or B wave, what follows is a 3rd or C — neither is friendly.

The bigger the bounce, the BIGGER the drop.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Same outcome.\n<img alt=\" \" title=\" \" src=\"https://community-static.tradeup.com/news/97f86f9fb888c6cbbd3de7b4bdf470da\" tg-width=\"3620\" tg-height=\"1768\"> \nThe current $SPY bounce is the largest % rally since the 696 peak.\nThat means price is correcting at a higher degree, which means the next wave down will also be higher degree.\nWhether this labels as a 2 or B wave, what follows is a 3rd or C — neither is friendly.\nThe bigger the bounce, the BIGGER the drop.\n<img alt=\" \" title=\" \" src=\"https://community-static.tradeup.com/news/29d4f1156198b058cf2ee4ef25b524c4\" tg-width=\"3620\" tg-height=\"1768\"> </body></html>","htmlText":"<html><head></head><body><a data-mention-id=\"ESmain\" class=\"teditor-mention\" data-mention-name=\"E-mini S&amp;P 500 - main 2606\" href=\"https://ttm.financial/FUT/ESmain\">$E-mini S&amp;P 500 - main 2606(ESmain)$</a> | Yesterday's first downside trigger didn't fire.\nInstead, price expanded the C-Wave into resistance:\nEquality (A=C), 61.8% retrace, &amp; Daily FVG.\n5 waves down.\n3 waves up.\nSTILL corrective.\n→ Next: <a data-mention-id=\"SPY\" class=\"teditor-mention\" data-mention-name=\"SPDR S&amp;P 500 ETF Trust\" href=\"https://ttm.financial/S/SPY\">$SPDR S&amp;P 500 ETF Trust(SPY)$</a> forms a bullish Daily FVG on this push.\nInversion of that gap = sell signal for the next wave down.\n→ Catalyst: CPI Friday.\nLeaning sell-the-news ~ pending confirmation.\nNew levels. Same outcome.\n<img alt=\" \" title=\" \" src=\"https://community-static.tradeup.com/news/97f86f9fb888c6cbbd3de7b4bdf470da\" tg-width=\"3620\" tg-height=\"1768\"> \nThe current $SPY bounce is the largest % rally since the 696 peak.\nThat means price is correcting at a higher degree, which means the next wave down will also be higher degree.\nWhether this labels as a 2 or B wave, what follows is a 3rd or C — neither is friendly.\nThe bigger the bounce, the BIGGER the drop.\n<img alt=\" \" title=\" \" src=\"https://community-static.tradeup.com/news/29d4f1156198b058cf2ee4ef25b524c4\" tg-width=\"3620\" tg-height=\"1768\"> </body></html>","text":"$E-mini S&P 500 - main 2606(ESmain)$ | Yesterday's first downside trigger didn't fire. Instead, price expanded the C-Wave into resistance: Equality (A=C), 61.8% retrace, & Daily FVG. 5 waves down. 3 waves up. STILL corrective. → Next: $SPDR S&P 500 ETF Trust(SPY)$ forms a bullish Daily FVG on this push. Inversion of that gap = sell signal for the next wave down. → Catalyst: CPI Friday. Leaning sell-the-news ~ pending confirmation. New levels. Same outcome. The current $SPY bounce is the largest % rally since the 696 peak. That means price is correcting at a higher degree, which means the next wave down will also be higher degree. Whether this labels as a 2 or B wave, what follows is a 3rd or C — neither is friendly. The bigger the bounce, the BIGGER the drop.","highlighted":1,"essential":1,"paper":2,"likeSize":30,"commentSize":0,"repostSize":5,"favoriteSize":0,"link":"https://ttm.financial/post/551289196175904","repostId":0,"isVote":1,"tweetType":1,"viewCount":612,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["SPY","ESmain"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":634,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/551289196175904"}