Given that the market structure has been pretty weak lately, if we print another rounded top on our way up to hit the cup and handle targets, ill probably scale almost 100% out of the markets.
We've been banging against overhead resistance in the middle of this channel for some time now and i would expect a pretty substantial drop after this next leg up.
Obviously...
How high could it fly? Expecting 4130-4144 tar. Maybe it already topped? We'll soon find out!
The megaphone is ominous, could get correction back to support at 3800, or less, if it plays the horn.
Not investing advice; trade at your own risk; GLTA!
Pure WAG and sheer speculation. Absolutely NOT investing advice! This post is strictly for your amusement only; intended purely to entertain, so enjoy!
NB: Near-term some sort of correction is due, index trading >2SD above 50DMA, RSI overbought near 80; absent a Fed Hike on 28/29 Jan, expect a modest pullback.
The monster break of Feb 2018 is unlikely to repeat...
Chart says all. US 30 trending in pitchfork straight railroad track pattern. Bear signal on 12/30/19; comes at or near completion of 5-wave Elliott impulse.
Expect Bear down until it taps the lower rail; a bounce from there into Springtime will finish at 30K, intersection of top rail. Short until ABC completes; then all-in Long.
This isn't investing advice;...
Chart says all; a few salients:
Long Trend: The entire movement of late 90's up to 2009 was a giant Zig-Zag correction of the 90's Bull Market. The 2000 dot-com bubble burst provoked a mighty B wave lasting several years, that ultimately culminated in the 2008/09 crash, when prices fell below 2000 levels in a great 'h'. The current cycle began 09 March 2009 with...
See my related post on SPY. It's a Butterfly pattern. Current price is retesting the breakdown TL. I am short this index at 2900.
The wedge grows narrow, rapidly tightening. Break imminent IMO. Won't be a good time to buy long until Butterfly completes.
Expected termination of CD Leg around 2720-2740, by Monday 28 October. Go long after price break completes for...
Similar idea to my Dow US 30 post. Sand P is statistically a stronger model, from larger numbers.
NB: This model is imperfect as the XD spread should be 1.27, but we got a real nice 0.62 Fibo AB retrace of the XA leg up.
Note the perfect double top Fibo = 1 (was within a few pips, a 99.9% retrace).
Real life is like that, we take what the market gives us.
The...
Just an idea. Not sayin' this is goin' down; maybe we already saw ATH today on 7/15. But, maybe a brief pullback to lower channel TL culminating on 7/23 will provoke a feeding frenzy coupled with FOMC rate cut to push the darn thing to 30K. Could easily rise another 6-8% in euphoria and carefree complacency that prevails atm.
If this plays out the subsequent...
Just an idea; I'm not sure about this but I expected a LOT more selling, and it's not happening.
An ABC countertrend surge may be in progress; if so, we'll have a new ATH this summer.
There is NO rational or logical reason for this to occur; therefore I consider it highly likely.
IT's exactly what happened in 1929... Fascinating that Fib time projects...
Reasonably confident these wave counts are accurate. It's more art than science. Look at Mark Rivest's counts , he is even more optimistic than I am:
We've got a triple combo 5-V-v wave forming off the shallow 4th wave last week. My Fibo projection for the last stage of the rally is 2937, but it could blow through that easily, won't be surprised to see it over...
