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ES - Weekly / 1C Underway

ES - Weekly / 1C Underway

We are witnessing the Larger 1/5 correction within the "C" Leg.

The Extensions reside @ 4426 and 4190.

Retracements should be limited to the 8/13 EMAs with the
21 EMA now acting as Support unit it does not.

"C" moved are generally quick and outsized.

There will be a Larger Retracrement when 2/5 begins, not

The FED has increased the probability of a 25 BPS Hike from
100% - to 86.1% Probability of a 25-50 BPS Hike.


The Transports confirmed the Dow Theory Sell Signal as I indicated
this would cause the DOW to correct.

Value Line Index gave us the warning the ES would see a sharp decline
to follow.

NQ has been seeing outsized selling in 711s.

TNX should tap or exceed 2%, perhaps 2.12% prior to a Retracement.

TLT should trade the 139s and possibly the 134s.

For time the "bottom" should not be until Mid- MArch when the FED
backs down from 50 BPS to 25 BOS and becomes less hawkish and far
more verbose as to concerns for the Overall "Economic Health" - this will
be the time to take the BUYs and ride them for a violent run ti new all time


By then, the ES should have filled its Gao at 4010.

It is Day by Day for now, with further updates to follow.

Trade SAfe everyone - HK

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