For a while now, I have been watching the US Index's and honestly, it doesn't look good. Sure, we just had a huge rally, and good deal of people are undoubtedly taking long positions. However, if one would just open their eyes, they can see the gigantic Tsunami headed straight for us. I'm not going to start naming all the different geo-political things that are currently going on in which could possibly cause this. That list is just way too long.
If you look at the MACD you can see we are extremely over extended and are due, at a minimum, for a retrace of some magnitude. I believe we have most likely already started that move down. If I'm right, we are about to drop very hard and very soon. We hit just past the 2.0 extension and the 0.618 retracement and then fell back under them. On the smaller fractals I see a downward trend already starting to carve itself out. That being said, that could still be a wave 4 which would explain the smaller fractal corrective moves too.
All that being said, we still have the potential to hit OMH in the NASDAQ. That is not my primary though at this time. If I am right, and we are about to start the journey to much lower prices, below $13565 is our first clue the upside count is finished, second clue is below $12800, and lastly below $11800 confirms it. Until then, pressure is still to the upside.
I know I know, that seems very far away from where we are at. I mean, that's almost a 20% drop. We have been in a bear market for the average amount of time they last. Sentiment seems to be turning bullish. I could go on and on with all the different reasons the market could go up making new highs in a new bull rally. As I said though, the MACD looks cooked and we're about to get a retrace of some magnitude no matter what count comes to fruition.
Once we start to get more price action to the downside, I can draw more accurate targets. For now, the only target i have for a micro a-wave is $14175-$14080. Until then we wait and see. There is always a chance for OMH which is my ALT count until we start to make more progress to the downside.
It takes a lot to offend me so please if you have differing opinions comment and let's hear them. If you do so though, post an analysis with it. Just simply commenting saying "I think it's going here" is not helpful. Ask away and questions that you have. I try to answer them with-in 24hrs. Lastly, hit that follow button if you haven't already. This will ensure you get all the most recent updates.
Take a look at my recent Tesla or Rivian posts from the last month or so to verify my accuracy. I will be the first to say, I'm not always right, but I will always try my hardest!
Bonam Fortunam,
--Tyler
If you look at the MACD you can see we are extremely over extended and are due, at a minimum, for a retrace of some magnitude. I believe we have most likely already started that move down. If I'm right, we are about to drop very hard and very soon. We hit just past the 2.0 extension and the 0.618 retracement and then fell back under them. On the smaller fractals I see a downward trend already starting to carve itself out. That being said, that could still be a wave 4 which would explain the smaller fractal corrective moves too.
All that being said, we still have the potential to hit OMH in the NASDAQ. That is not my primary though at this time. If I am right, and we are about to start the journey to much lower prices, below $13565 is our first clue the upside count is finished, second clue is below $12800, and lastly below $11800 confirms it. Until then, pressure is still to the upside.
I know I know, that seems very far away from where we are at. I mean, that's almost a 20% drop. We have been in a bear market for the average amount of time they last. Sentiment seems to be turning bullish. I could go on and on with all the different reasons the market could go up making new highs in a new bull rally. As I said though, the MACD looks cooked and we're about to get a retrace of some magnitude no matter what count comes to fruition.
Once we start to get more price action to the downside, I can draw more accurate targets. For now, the only target i have for a micro a-wave is $14175-$14080. Until then we wait and see. There is always a chance for OMH which is my ALT count until we start to make more progress to the downside.
It takes a lot to offend me so please if you have differing opinions comment and let's hear them. If you do so though, post an analysis with it. Just simply commenting saying "I think it's going here" is not helpful. Ask away and questions that you have. I try to answer them with-in 24hrs. Lastly, hit that follow button if you haven't already. This will ensure you get all the most recent updates.
Take a look at my recent Tesla or Rivian posts from the last month or so to verify my accuracy. I will be the first to say, I'm not always right, but I will always try my hardest!
Bonam Fortunam,
--Tyler
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler