The weekly chart bars show that my previous analysis is still in play. The past week plus kind of threw me as we blew through the bottom of my wave 1.
I am not sure if the move (2/22 -3/14-now) is a 4 or a B but either way the next couple of weeks are going to be overall red. I will post a follow up analysis of what I think these two weeks will look like.
I am a believer that markets are cyclical in the sense that all things have a pulse, a code. The Fibonacci sequence is found in all of existence i.e. the patterns that galaxies form. If you watch the video that I posted on a previous idea with Robert Prechter he gives a good example of how Fib Sequence can be applied to markets. He shows that the markets were meant to top in 2021 (which I believe we did have a true top in December before a corrective wave pseudo top). I believe it is on a deeper level. Maybe it has just been written into the algos of the market puters at this point but it started before that. Looking forward if we count it the sequence we should bottom this year and then have a very volatile 23-24. My call: we bottom in December 9th. (12/9???)
Using Elliott Waves and the Fib Sequence we can get a good idea of future direction. The key is to give yourself enough time for the move to happen as correction waves can be complex and drawn out... lesson still being learned.
Trading through 2020 has made me expect massive reversals every day of a bear market but they have consistently dragged out a move to the end of a day (or the week). This is just one thing that tells me that it was just time of the markets to top and to come to a more reasonable evaluation, it has been an orderly descent. Yes, there are horrible things going on in the world but there are always bad things going on that the markets powers through.
Furthermore these things are happening because it is time for them to happen. Like a running engine, one component does it's job and that leads to another. Throughout history we find these patterns of build up and falling off of economies and societies as well as war timing patterns. It is father time in unison with gravity. It is the push and pull and the greater power that controls it all.
Once a path is set for the market, the market is going to finish out that path before embarking on the next wave... some great news story may delay or expedite the path but it will not stop it. It will just contribute to a longer or shorter correction period. The key is knowing where we are in the process and mapping out the possible end price targets. With practice we can see that price action will touch these goals to the penny.
I believe if the markets prove your analysis wrong it is because you read the pattern wrong, not because it is erratic or changed direction due to news. The news does not affect the market the news tellers just put a story to the market's action. I believe the best news station understand the future direction of the market before it happens and set up their day to reflect that.
Happy Trading my fellow travelers.
I am not sure if the move (2/22 -3/14-now) is a 4 or a B but either way the next couple of weeks are going to be overall red. I will post a follow up analysis of what I think these two weeks will look like.
I am a believer that markets are cyclical in the sense that all things have a pulse, a code. The Fibonacci sequence is found in all of existence i.e. the patterns that galaxies form. If you watch the video that I posted on a previous idea with Robert Prechter he gives a good example of how Fib Sequence can be applied to markets. He shows that the markets were meant to top in 2021 (which I believe we did have a true top in December before a corrective wave pseudo top). I believe it is on a deeper level. Maybe it has just been written into the algos of the market puters at this point but it started before that. Looking forward if we count it the sequence we should bottom this year and then have a very volatile 23-24. My call: we bottom in December 9th. (12/9???)
Using Elliott Waves and the Fib Sequence we can get a good idea of future direction. The key is to give yourself enough time for the move to happen as correction waves can be complex and drawn out... lesson still being learned.
Trading through 2020 has made me expect massive reversals every day of a bear market but they have consistently dragged out a move to the end of a day (or the week). This is just one thing that tells me that it was just time of the markets to top and to come to a more reasonable evaluation, it has been an orderly descent. Yes, there are horrible things going on in the world but there are always bad things going on that the markets powers through.
Furthermore these things are happening because it is time for them to happen. Like a running engine, one component does it's job and that leads to another. Throughout history we find these patterns of build up and falling off of economies and societies as well as war timing patterns. It is father time in unison with gravity. It is the push and pull and the greater power that controls it all.
Once a path is set for the market, the market is going to finish out that path before embarking on the next wave... some great news story may delay or expedite the path but it will not stop it. It will just contribute to a longer or shorter correction period. The key is knowing where we are in the process and mapping out the possible end price targets. With practice we can see that price action will touch these goals to the penny.
I believe if the markets prove your analysis wrong it is because you read the pattern wrong, not because it is erratic or changed direction due to news. The news does not affect the market the news tellers just put a story to the market's action. I believe the best news station understand the future direction of the market before it happens and set up their day to reflect that.
Happy Trading my fellow travelers.
Comment:
If this is a B then we may still have room to run and my target would be 475
