The hourly ESM17 chart just printed at the bar ending at 11 am CDT a DeMark Sequential™ buy signal at the .786 retrace of the 4/11 low and at the 100% fib time extension of the 4/10-4/11downswing. This signal is hitting at a short term Hurst cycle low, and could count as the end of Wave 2 from the 3/27 low to 4/5 high. It hit the .707 fib retrace of that swing. If this is the pivot, then the Elliott wave count then would be that we are in wave 3 of 5 of 5 up from the Jan 2016 low and looking for a May top.
As is often seen, these signals cluster across different asset classes in what appears to be coordinated/ correlated swings. Oil hit last night. Many of the softs hit in the past few days.
Edited by Geomean, 12 April 2017 - 11:07 AM.
