Powell says Fed will discuss speeding up bond-buying taper at December meeting, which will take place from 14-15 of December ! As of this month only 15Billions were tapered ,
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The more we go up, the weaker this count is, just pointing out the " Known". We have already reached .78 Fibs of previous high, this is algo playground here !
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Seems likely this will get invalidated. We could have a flat for our X, just like this idea, but do not think so ! Never know though i see every one is just bearish with out sold analysis !
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We are closing in on a trough of some sort with in 2 days or so, lets see how this wave structure unfolds. Just Omicron + Tarping are going to invalidated any thing bullish here lets see !
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We might not touch the lower line of the channel, not sure as of now. 5 waves in progress to complete perfect Elliott wave count !
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Straight break down !!!
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We will probably get another ABC down in WXYXXZ triple zig zag structure !
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This is becoming more WXY , lets see what mkts give us today !
interesting perspective here, i was thinking we're playing out a complex wave 4
samitrading
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@Eloquent, **** ES buddy you have W4 (4) is too big right comparing it to your W2 (2), you need to check the ratio for that, & do not forget buddy the guide of Alternation between 2 & 4 ! *** Your NDX looks sold :-) and we still need to get that alternation between W2 in Yellow & W4 in Yellow the last dip we need to have it as a complex structures, i guess we are having one just by looking at it (did not do ndx for a while) !
samitrading
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@Eloquent, Keep up the good work buddy you are dong a great job. Regardless of internal structures bud, the bigger/larger count is the tradable and most important one. I do load of mistakes with flats, triangles and combination but as long the larger count stands then we are on the right track :-) love your charts keep them coming, they make me happy dunnoo why :-)
Eloquent
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@samitrading, despite what the count is, our algorithm is calling out a very significant buy here, i'm forecasting a powerful reversal within the next 24~48 hours
& thanks dude, i like your charts too, always nice to have more than one perspective in these markets ^^
samitrading
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@Eloquent, Hey buddy, which algorithm you are talking about.
Eloquent
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@samitrading, proprietary system our team uses in these markets