It always ends like this. Overlay from final wave 5 rally into 2 Sep. Just something to consider before you go full bore shorting this.
Finding the exact fit to this week's rally was quite sobering. April is usually very bully and we're coming off a very Beary period since mid-Feb. The overlay suggests end price ATH at 4446.
IMO a Big Bullup may well occur. Weakness in techs, NQ and RUT have been holding this dog down; they appear to be consolidating and possibly preparing for a move up. Watch RTY and NQ1 for a breakout; if it comes this will bull IMO.
Not intended to be advice, trade at your own risk; just something to consider... carefully IMO. GLTA!
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IMO the move will start on 5 April week. Expect to bull every day for a month. Moonshot. Probly last chance to close shorts before the holiday weekend... don't forget 2 April is market Good Friday holiday!
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NB: RTY and DJT Green on a down day... these are leaders of bull movements, small caps bulling is an early warning to GTFO ur shorts!
Transports going Green, DJI close behind, get ready for the parabolic IMO: Dow Theory, Indices should confirm each other (DJT, RUT moving up with DJI, SPX), volume will rise with rising price (waiting to see this); Trend Persists until a Clear Reversal occurs (only NQ1 slipped into correction zone and has since lifted out): The Trend is Ur Friend until the End when it may Bend.
Expect this to climb a wall of worry. If it gaps up Monday, will likely sell down and might fill gaps back to Wednesday, then bounce higher, faster.
Option traders dream, buyin daily calls in a panic for pennies, just be damned sure u get in on bottom and not end of wave 3 down, lol.
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Another Gap & Go, FGS, due for a breather soon, pullback imminent IMO.
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Looks and feels toppy IMO... waiting on Tues prices to confirm or invalidate top... there is a Fib at 4130 but overlay suggests some pullback here soon.
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EOD rush lifts price back to the 2PM HOTD. Next 2 trading days will generate a signal IMO.
Would NOT short based on high price alone! Can creep higher... wait for a clear signal.
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Filling in nicely; got a nice blowup this week, wayy overboiught; overlay calls for 90-100+ pip pullback next week, then higher again.
how does this work? there's no consistent wave patterns in these, you can't overlay past price movements to the candle and have it mean anything without doing wave counts can you? markets are fractal but also chaotic you have to systemize things to something...
DaddySawbucks
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@candlestickninja, Just a projection of the last stupid blow-off rally from August. IF it blows up in similar fashion, could expect the chart suggestion.
OFC it's only an overlay, but you see what it did last time it bulled to parabolic; likely got one left in it IMO
I am NOT betting on this, just taking day trades as I find them. Hold NOTHIN overnight, lol.
hungry_hippo
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Biden speech Wed. He wants to increase corporate taxes and rates for >400k.
Remember the Trump pump when he cut taxes? Expect the opposite.
Mars-james
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This is the best idea.
samitrading
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Don't think we will go to June with out a correction. Buddy that's 3 months from now, Elliott wave is just ready whether from 2009 Grand
cycle count or from Covid's low count. Stimmy is running the show, and everything is possible we could be in wave 3 we go up to 5600 .
DaddySawbucks
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@samitrading, yes I agree. see embedded comment about overlays, use and limitations. past paths do not project future performance, but do offer suggestions
redlinesd
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I see 445 as well, and I believe rent/mortgage moratorium ends in June.