NASDAQ is in the final stages of the third Elliott wave which started at 6460 (dark blue). It appears to have already completed four minor waves (green) and is currently in its fifth leg.
Further, if you drill down, you would notice that the fifth green wave has also completed four minute waves (pink) and the fifth pink wave has completed three sub-minute waves ...
NASDAQ appears to be moving in an ABCDE corrective pattern. It has completed four legs and is currently going down in the E wave.
Wave E should be made up of an ABC sub-wave. Currently, wave 2 of the wave A is in progress (red wave) which can have another short movement up on Monday to 6950, from where it could go down in the third wave.
Hi everyone. In my TA I'm considering fib levels, elliot waves, Ichimoku Cloud, RSI, and MACD.
--> I see a 1-5 count on MACD and price action and we are about the end of the wave 5.
--> fib extention shows we have rejected 360% (7.5k) and we see a high+long+red wick that signals reversal soon.
--> fib retracement tells us that the next stop(support) is at 26% ...
Technicals imply a sweetheart deal for MSTX bulls to GET OUT @ 10.3-10.4. This chartist implies to just GET OUT. If only I would take my own advice. Literally, I don't even care about a profit anymore as long as my losses are minimized. Anybody else trapped in the 1408-style MASTX? My opinion based on previous trading sessions is B-b-b-bearish, while a hope and a ...
It seems only volatility in Utilities can truly threaten equity , so that this might be the ultimate indicator for going short equity . Right now the danger level is very low, because Utilities are through the roof.
1 - Overall price action suggests an incomplete 5-wave impulse with Elliott Wave alternation rules giving way to a complex Wave-IV consolidation with support expected at 4104.70, compared to a simpler Wave-II which occurred between 04-2010 and 10 2011; A resultant Wave-V completion remains pending
2 - ...
Entered at $17.7 here, this will be a multi month holding position with little risk.
Stop loss will not be exactly at 16.7, I will watch for other macros such as the upcoming FED rate hike on june 17 (yes again, and probably not raise it lol )
Nasdaq 40 year perspective: ...