Disclaimer: My long term projections are not anywhere close to as good as my daily projections
I'm not much of an Elliot guy, but I do believe in the 3 drive pattern because the market does it a lot. It's part of the algos, I posted 3 drive pattern down a few times during the tank. Anyways, this plot shows why I keep saying no shorting until next week, either...
this was a question which echoed through my mind these last few weeks.
my primary idea has us going down, and very hard,
there's been a lot of excitement on this bear rally
>notice how i call it a bear rally
>cause that's all this truly is in my honest opinion.
a lot of people think things are back to "normal",
but normal is long...
S and P will make new all time highs by March 2023, what remains to be seen is whether this incoming pullback will initiate Z of triple combo or if it will be smaller degree wave 4 of 5 - which would likely mean breakout after pullback here to ~4090 (thus completing larger corrective wave IV with a double combo at Junes low).
my main target of 4300 has been hit.
exactly 30 days from today, a majority of all of the puts in this market will expire worthless.
there is tens of millions of far otm contracts across the board.
majority of the stonk market is apparently short 👀.
majority of the market also tends to be wrong, every single time.
maybe this time is different, but...
Housing continues to implode along with China's recent Urban Outfitters.
8:30 am Building permits (SAAR) July 1.63 million 1.70 million
8:30 am Housing starts (SAAR) July 1.52 million 1.56 million
Interesting China avoided its Ecuminiopolis Economy... it's worse, of course.
The Cerveza Sickness compounds across all regions.
The Hot Topic is China leaving...
Not a lot of action overnight.
On the Micro Level;
The 5m and the 15m both have a higher high and lower low trend settled in.
On the Main Medium Trends;
All are in an uptrend. We are below our higher high uptrend of the 30m and 1h (purple and grey), but above the 2h and 3h (blue and red) uptrend lines. I'll likely wait for the micro levels to at least start...
The Market went through the $4165-$4200 resistance, as described in my previous analysis.
We are still in a bear market, however, the short-term directionality is bullish. The price will probably try to break the $4400-$4500 level.
The last four weeks have been incredibly strong. Money Flow Index (MFI) in overbought & Rising Wedge Formation.
From my point of...
This morning I thought I’d try something different. Updating my coverage list in one post. (Comment if you like or would rather have dedicated posts). I’ll start with the US Markets. The main chart above shows the S&P Futures advancing or consolidating at the highs. I am starting to see a more bullish or technically constructive article flow from...
COVID 19 -> PRINT $ -> INFLATION -> RECESSION -> NEW SUPER CYCLE
when will the new super cycle?
TAIWAN is a war for international trade and chips
UKRAINE is a war for Oil & Gas
= > Solution: Green finance and more green trade barrier