Your not wrong, just ahead of the game. We have been an a 12345 Elliot Wave since 6/15 and just finishing up leg 5 toward 3400. The market wants 3400 no matter what. Will it get there all the way? Don't know, but that's the destination. You should use Elliot Waves and Fibonacci to help guide your MA models. Markets move in EW hitting Fib levels forming fractal patterns because human beings in the market are not any different than other things in nature and the universe following wave theory, fibonacci ratios, and building large structures from smaller fractal structures.
@cromero_flash, I think we are seeing the same wave pattern development. See my posting below. I only worry what would happen if they pass the second stimulus this Friday.
Looks like 7/21 is peak of sub-wave 3 in current wave 5. 7/24 is end of sub-wave 4 and start of sub-wave 5 in 4 hour chart. Base on this assumption, can you adjust peak model to find out wave 5 peak again?
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