Possible DOJI candle reaction - October & December had continuations off this though set up is slightly different. Fed minutes tomorrow & Russia tensions rising. Will play a factor.
Here comes the update for Nasdaq. Closed 50%+ of shorts following Friday's drop. Anticipating a bounce next week in wave x which is likely to come out choppy. As a general rule I do not trade countertrend bounces (especially wave x), it is better to wait until wave x is completed and reenter shorts.
Share your thoughts on the spy? Do you rely on news or strictly the chart or is it both? Thanks
What does the Trend Say? Part of the Weekly Update, to be followed by the big picture. The market continues to move in what I consider to be x of wxy of wave 2 of ... whatever. Wave x can take many shapes and what is indicated on the chart is a possibility, not a forecast. Currently, there is no high probability setup. We keep holding the assumption that the...
A recast of the count similar to SP500 posted earlier to accomodate the bounce we witnessed over the last 2 days. We still hold bearish bias.
Yesterday I was banned by Tradingview from posting and messaging due to 'unsolicited advertising' and my updates were available through the website only. Yesterday, the market continued its rally and at this point, the previous count looks extremely stretched. By now the bears should have been stopped out. Aanalyzing lower time frames in the rectangular area...
SP500 is in a similar situation as Nasdaq. Looking at SP500 I need to be wary of the risk to miscount waves when the price will move from one 4rth wave to another one of a higher degree.
The market promises to be volatile, yet offers swing trade opportunities. I am not exceptionally good at short-term swinging - a good chance to practice. Please see the related posts for the bigger picture.
The big picture remains largely unchanged. I corrected wave 2 to make it deeper and more volatile. This is dictated by the dynamics we observe in wave 1 currently.
Same as Nasdaq SP500 does not appear to have finished the consolidation.
Very similar to SP500. Most likely the market will be like a saw cutting both shorts and longs in the aftermath of FED.
Those who stayed short - well done! The message of this chart is that for the remainder of this and early next week, the price can spend consolidating. I do not do intraday trading, hence, the strategy would be to take it easy, watch waves and add shorts if opportunity emerges. The price can continue crumbling down - I do not rule this out. At this stage of the...
By the way the price goes - the bottom is nowhere near. There is a strong level of support/supply area at 13500-14000. I will refrain from trying to label the minute waves as of now.
last days we see a volume increase and some bullish indikators like momentum and stochastik. but also we're hitting a gap resistant in the gold-ETF. i would wait for a consolidation respectiv a bounce back to the 170$ support to get into it. overall i think with high inflation and all the crisis over the world goldcould be more attractive in the next time. also...
Not a financial advice I recently watch a spy analysis video by David Marino jr on YouTube which gave me a thought of plotting key trends and eras to study confluence.
Another possibility. Difficult to say as of now where we are. Just creating charts for webiste my posts.
Seems like we are sinking. RSI is oversold and no divergence in sight. We are back to the immediate short scenario.
A possible interpretation of the wave compatible with recent SP500 post. THe red alternative is likley to be canceled. Will keep it on the chart just in case.