I urge you to read my previous NDX wave count before continuing. Here's what's troubling me. On the futures chart I get a different wave count than on the cash. As you can see, the cash shows we are in the midst of an ABC correction of a Wave 5, which may even morph into a new bear market, but take things one at a time. Differently on the future chart we are in a...
This alternate wave count, shows how a double zigzag may be unfolding. This count is supported by the linear regression and similar fibonacci pattern. Of course, the Y will need to develop from an ABC pattern. No material difference from my previous counts, al point down. Still looking for a realistic bullish wave count.
No material change to the previous wave count, just an extended 3 of X. As noted @ the bottom of the chart, the Flat pattern is developing. I expect a sharp reversal soon. @15050 (ish) the 3rd wave extended 2x wave 1. Expect an extended 5 to follow the wave 4 correction.
1.382 extension of (A) has been reached. If this concludes the B wave (and it is behaving just like one) it can spin a 180 before you can you can see pericopobulaton. Eyes on the 65 MA, if broken to the downside this time, acceleration could be bad for your health. C waves ALWAYS unfold in 5 waves, whatever form they take. Since the lows, the 10 yr yield is up...
Looking for something bullish, but I can't find it. My best count is that we are in the process of completing a corrective B wave (targets shown on Fibonacci retracements). I'm posting daily an hourly charts to better illustrate my thesis. Wave A, subdivided in 5 minor waves, has an unusual extended 5th wave, which is in standing with Nasdaq behavior. The main...
Nasdaq approaching what appears to be the end of a minute C wave. Coincides with a 1.236 extension of A wave. RSI behavior seems to confirm it is in a 5 of C. An upward acceleration from these levels may signal an intermediate pause in the bear market and turn this C wave into a wave 3.
Continuing from the 15 min wave count, where the C wave of 2 is closing in an ending diagonal (contracting), wave 1 (where wave 5 ends) developed in a leading diagonal (expanding). Wave 5 of 1 shows typical wave 5 behavior with an RSI divergence as does 5 of C from the 15 min analysis. We appear to be in the early stages of a 3 of 3 of 3 , meaning an extremely...
NDX- Nasdaq is manifesting typical wave 5 behavior, Momentum is virtually flat suggesting very low participation, Maroc is virtually flat. Divergence on the rsi. Irregular price action with overlapping subwaves. @ 15230 wave 5 would hit the wave 1 extension from wave 4 low, next target 15700 area (1.618 extension) The market is ignoring both good and bad news....
Please refer to previous NDX analysis. Expanding triangle 5 th waves can expand, and usually do, into 7 overlapping subwaves. I'm shorting here. Pray for me ))
ETH is still bumping against the 62% retracement of the summer sell off. Now trading below it's 21 MA. A close below it today would likely cause prices to accelerate towards the 2700 area. I'm holding my short with stop @ a close above the 62% retracement. AB=CD target still in play (See related chart analysis from a few weeks ago)
Has the Nasdaq completed an AB=CD formation. Prices and momentum say yes. I shorted between 15250 and 15390 based on my wave analysis (see previous publishing). If this formation is complete the next target is the low of C (14715)
ETH is bumping against the 61.8% retracement of the summer selloff. Possible AB=CD pattern. Taking this short now exposes small risk, close a couple of points higher, but on the plus side, the target would be below 800, that would be 2500 points.
Breaking down the 5th wave on the 4hour chart, shows how prices reached the 200% extension of wave 1 from low of wave 2. This seems to confirm the daily wave count that we are in a wave 4 of 5. Downward target is @ 14050 area and high wave 5 target remains @ 15077. I would expect the latter reach said level in divergence. Maroc is weak both on the daily and 4 hour...
Most likely, Nasdaq is in a 5th wave (a minor count) with first target @ 15077 (1.382 extension of wave 1 from low of wave 4). Maroc is in trend mode, so I would expect a sharp acceleration before calling this top.
I admit I had a gut feeling this 15 day rally was a fake and I set out to look for reasons for a top. Nevertheless, I found something. Yesterdays action (15/04) blew out the 1.618 extension of the march move and hit a resistance (yellow line) which has proven its self in the past. If the breakout of the 1.618 level proves real, my next target is 4600 area, but...
My next preferred count is a 3-3-3 sequence, with current leg being the third B. Within this context, a triangle seems to have formed, hence, prices should not exceed the dashed red line, ideally the D leg should fall short of its upper limit. Inversely, the E leg should overshoot before resuming the main upward trend (a fakey - not sure about this spelling, but...
I think we are in the final stages of a complex wave 4 correction. A decisive break of 13400 has still not happened even though there have been plenty occasions to do this. A fib. retracement suggests a possible extension of X to 13500 before completing the move to the 0.382 or 0.618 extension. The generally erratic behavior of price action is typical of complex...