Nat Gas - Add this to your main watchlist.
We could get a nice opportunity to short if we get a small pullback next few days to the noted orange zone at which point we have to look for clues for a potential sell off. #patience
On my previous post a few days ago, I highlighted this orange zone from which a bounce is highly likely if the primary count is correct.
Today we are seeing it go up with other mega caps.
Right now it look like it's making a 5 wave advance which would be a great bullish sign but we only have 3 waves up for now.
I already have a position here but I will look to...
Following previous post, the 570$ target was hit and exceeded today, going for 630 now.
Target have been silghtly revised from the previous post, since price remained more sideways and made a Triangle wave Y a month after my entry.
Follow up to my previous post.
Yesterday I warned that all big names like FB, GOOG, AAPL, MSFT, NVDA are in a tight consolidation and they are needed to go higher if we are to see a sustained bull rally.
Up until now, it's been the small caps taking prices higher and so a push up by the big guys will really launch the multi-year bull market in my opinion.
Big caps are finally waking up after consolidating for more than 5 months.
NVDA is no exception.
It seems to have finished a complex WXY correction and is now heading for new highs as long as 503.4 isn't taken out.
I have a position.
This is a follow up to my previous post you can check out below.
Bullish view is intact as this one (any many other Chinese stocks) have held perfectly during current market correction.
As long as invalidation holds, I see no reason to not have a position here and in Chinese stocks in general (other good one for exemple is ZI)
This is a simple setup that could yield around 300-350points.
Simply waiting for a break above the resistance zone.
Personnaly, I'm putting a buy order at 13250 with a Stop of 60points.
If we see a big candle breaking higher with high volume confirming the move, I will immediately move my stop to it's opening price.
Beware fake-outs though !
If price breaks...
This is clearly for promotion purposes as you can see but also shows the effectiveness of the wave Principle which is deadly accurate sometimes !
Here you can see the chart that I shared with my subscibers on 29 Sep 2020 and where we are currently.
S&P500 - Despite the optimism we're seeing in the markets today, I wouldn't go on a buying spree right away.
Many setups have been popping up but I still believe we're in a bad phase right now and there is a high chance for markets to sell off and make new lows.
What the catalyst might be, I don't know... Maybe Trump will not acknowledge the results ? Who...
Made only 3 waves down and currently is up in 3 and is at the 161.8% projection of orange wave a from b and the 127.2% of (w) from (x).
This is an important Fib cluster that can react as resistance and the fact that we also have the 78.6% retracement level of the Diagonal doesn't help the bulls.
Therefore, unless we see a new high above 420, I recommend to be...
We can make the case for this being a rising Wedge Pattern or in terms of the Wave Principle, an Ending Diagonal fifth wave.
Looking at the Wedge pattern, there's nothing wrong here and we can short if price goes outside the pattern.
But there are two problems with this view according to the wave Principle :
1) Wave 4 did not enter wave 1 territory altough...
This is a follow up to my previous post and is here simply to show the effectiveness of the Elliott Wave Principle and one way to apply it.
We shorted this ending diagonal right after closing our longs because for 2 reasons : 1) We got an Ending Diagonal wave 5 which should be followed by a sharp reversal.
BYND - Here's a new one for our watchlist. Not sure a retest of the support zone is for right now but once 5 up are done, it's a possibility and occasion for a long.
For now, it looks like a simple wave 4 correction.
A break above the channel should take this for a fifth wave higher.
Although we have the risk of this being a 3 waves rise, by the looks of it I tihnk we'll see a new high as this move has the caracteristics of a corrective wave 4.
Looking at the number of stocks that keep on breaking out of corrective bases and making new highs (look at my profile) but also looking at the Advance/Decline Line we can see that we have positive...
Just follow the noted path.
If wave (iv) has ended then we should see the fifth wave higher, completing a higher degree wave 1.
We then need to see a corrective wave 2 that must hold above the beginning of wave 1 at 73.80 for this stock to rally to new highs.
Should continue higher, 120-124 would be the first target zone followed by 130 after a correction.
If price goes below 105.1, leave the ship, it's going to sink.
If you're looking for a more short term move, you can use 112.4 as your stop