Today was choppy yet again. Does that strike you as something you would see in an impulsive motive wave? If you answered yes, then you should go back and study the difference between corrective & impulsive patterns. Not saying LDs are impossible...but in a wave 3? That just isn't something I'm ready to get behind. Not to mention we still don't have positive...
In my last post I stated, "The next primary line of resistance is the 1.618 extension @ $489.95. I expect some type of reaction there regardless of the strength it shows". When we hit that fib, we got some choppy price action but ultimately were able to push through it. The next line of resistance we look towards is the 1.786 @ $501.99. This would fare well with...
Not spending a lot of time on this post as I have been very clear on my expectations with Coinbase. Looking at the 3min MACD, the choppiness of price action, and the structure that has been carved out since the 19 Jan low my ALT seems ideal. So, from here I expect us to drop to the yellow box before lifting off. There is a slim possibility the bottom has already...
In my comment last night, I stated "we shouldn't breach the 0.5 retracement @ $195.74". Well, we just barely breached that and hit $196.35 before dropping hard. People can say it was due to the judge striking down Elon's payment package, but why would that hurt the stock? That literally saved/made it to where Elon wasn't given $55 billion dollars of free Tesla...
Wave ((1)) of III is extending which isn't too surprising. As said before, this is a wave 3 and those typically extend and are the strongest waves within an impulsive count. We met some resistance around the 0.786 extension that a mentioned in a prior post. This to me is starting to look like an ED and should be concluding soon. When it does finally conclude it...
Nothing has changed from last week's Coinbase post. I feel this is most likely corrective action and we have one more slight low to make. If this is the case, then we need to make another slight high to finish this c wave before making that slight low. Once this is complete, we then take off for our next push higher. The next target is $190 at the minimum. If...
There isn't much to add from my last post. Price action since Thursday of last week seems corrective to me and so I am counting this as our final wave iv of 5 of C of (B). We could have technically bottomed already but the most recent price action doesn't suggest that to me. If we do get one more low, I would like it to ideally be fast and then a strong move...
There isn't much to add to my last Tesla post either. We have been in what appears to be a corrective move as predicted in my last post. I still feel we have a couple 4-5's left to carve out before we bottom and start to head up again. As you can see by my box, we could easily drop to the 1.236 @ $154.94, and it be considered a "standard" end point for this...
I'm sure when I first posted how high my forecast for AMD was most of you scoffed at it. Well, look at where we are now. I still feel we are targeting the 1.382 next @ $193.30. This isn't a requirement though as you can see, we are in the target box. When we hit the top, we will start our wave iv retrace which will bring us to the $150-$160 area before raising...
Gold has been consolidating for a while now with-in this wave (5). Structure appears to be waiting for wave 3 of iii of (5) to start. These corrective waves with-in an impulsive count can last for an unreasonable amount of time. There is nothing that dictates the amount of time ANY wave has to take, only that corrective waves are comprised of 3-wave moves. These...
This latest move off the $118.02 bottom made on 19 Jan appears corrective to me. In order to create a 5-wave move I just have to really force it and when you have to force an impulsive move, it's probably an A wave in my experience. On the chart, you see a turquoise count (ALT), but this is becoming even more likely than my white count IMHO. Until the white count...
First thing I want to point out is we have yet to breach the previous low the 1HR MACD made on 06 October 23'. We haven't even come close. This is re-assuring to me that the prior decline was the A wave of this larger count. We are still in the target box too. Even though Tesla dropped almost 20%, Rivian has held up rather well comparatively only dropping 5.3%....
Welp, in my last post titled, Thought Experiment, I stated we would get a "hard fall which would coincide with the strength one would expect to see from a C wave of any degree". We definitely got that hard fall alright. Tesla fell 17.87% from yesterdays close to today's low of $180.06. This fall isn't over yet either. As the chart suggests we could fall down to...
We never got the confirmation/clues I said we needed to say price had carved a bottom. Today, we breached that $15.12 bottom, so the previous impulsive count has officially been invalidated. As previously stated, we now look towards out next levels of support. On the micros we bounced off the 1.236 fib but the next larger line of resistance is $14.13 @ the 0.786...
As the title mentions I am going to predict what I think the earnings report will result in. But first I want to point out that I have changed my ALT back to my primary. As I have said, I've been leaning towards this count for some time now. If my old-time followers remember, a couple months ago I said the bottom for (2) should hit the $180 area. Price hit $193 on...
I think I may finally be on to something tonight. After looking at/refining this most recent decline, I drew some fib extensions, and look at how accurate this one seems to be on the 15min chart below. We bottomed on the 1.118 extension to the cent. The other lines are acting as resistance/support as well. This to me, is the most probable area for these mini-a-b...
In my last SPY update I mentioned I felt we were still in an ED due to the way price has been behaving and the way MACD has been acting as well. MACD made its last high all the way back in wave 1. That shouldn't be the case if this was a "normal" impulsive wave. If this is in fact the correct count, then we should have a b wave retrace soon before heading to...
Today, Coinbase made a new high on the 3min MACD, which is a very good sign. It shows this move up, as of this writing, is healthy. This looks like a 1-2, (1-2) forming as of now. The clue I will be watching for is MACD to make a new high above todays on the 3min chart. This will signify we're most likely in a 3 of (iii) of i of our next larger wave (5). Zooming...