AAPL Printed a two candle formation known as a "Bearish Counter Attack". This occurs with one up, green candle first day. Second day sees a gap up open, then red, down candle that closes at the same area as the previous up day closed. In the case of AAPL, it was within one cent. Some research has revealed that this formation results in a down day the next day 57%...
AMZN printed a Dragonfly Doji today, which is usually a good sign of a reversal when seen at the bottom of a downtrend. See attached image below. So, what do we do now? Well, here's my take. AMZN is a buy above the top wick of the dragonfly, so over 1770 tomorrow. However, the tilt in AMZN remains bearish until 1836 is broken and closed above with conviction....
In my best guess at where we currently lie in the Grand Supercycle Elliott Wave Theory, I have us in Wave 3 Grand Supercycle, Wave 5 Supercycle, and Wave 5 Cycle. This most likely puts the pullback for Wave 4 Grand Supercycle and A-B-C Correction for Supercycle/Cycle between around 2350-2085, which are .618 levels. However, based on earlier corrections the market...
KMB has climbed all the way back up to its upper resistance, and all indicators and price action show that it is going to be very difficult to pop through it this time. It would appear that a reset for a push on up is necessary, which I do eventually think will happen. In my opinion, a good place to get long this stock would be around the 120-123 area. For now...
