This retracement has look and feel of a B wave, choppy and hesitant. Got a H&S in the 15 minute chart on 11/11. Expect another leg lower soon IMO. Should push down to test support at the old ATH IMO. RSI went oversold, bounced, fades. Likely to get a big bounce (arrow) after the C leg, retest ATH in December. 19 Nov OpeX likely to be pretty choppy IMO. Sold...
Last pullback in 5-10 Nov gave an S-curve 'ABC' with two down legs, time from first sell to completion: 5 bars; would paint NLT 11/26. Got a nice retracement in late trade Tues, from oversold on first leg down; expect lower Weds EOD. Tues PM rally typical of bear reactions. First support held at 4660 11/23; break below will signal measured move lower. An S-curve...
Chart says all. Pattern from August 2020, now making same insane run. The 1.62 Fibo extension from September correction is at 4720. Do not short based on: "I think the price is too high!" "It's overbought, must come down!" "How can it get any higher?! Already nosebleed!" "I feel lucky!" Short on signal; the engulfing bear candle after blowup. IF it follows...
Be really careful about placing bets against this monster. The end phase of bull markets are always characterized by explosive panic rallies. Been rising for 12 years. Fed gonna raise rates >1% next year, probably gonna get a 50 basis pip pop in spring or summer, inflation unchecked. Read Friday's NY Times for a very insightful article on when, why and how much...
Not over IMO. Look such a perfect fit on this overlay, couldn't help noticing how the step-down pattern led to waterfall then; Expect another. By happy ?Coincidence, the previous ATH 4545, prior resistance and the overlay projection all align at 4545... on that line; that's my target. Not yet oversold in the 3hr. DYODD; GLTA!
O FGS! Dammit! They gapped it up overnight, what should I do?!? Well what gap is this? Three weeks ago we had Initiation Gap: These often do not fill, don't short them! It's suicide, lol! This has hallmarks of an Exhaustion Gap; it will fill intra-day or within a few sessions at most... a great short opportunity! See my related post on gaps FYI. But, when should...
RSI near 80, MFI near ATH over 90, Blowing Up. Chart has all the details. Could top this week or early next. Overlay is a WAG. Absolute disconnect of price from reality. Selling soon IMO. Price may press higher to test the Fibo at 16,530 before rollover. Every blowoff ends in a waterfall cascade. Excessive greed gives way to excessive fear. Gonna get real dicey...
Predicting the future is hard. Here's a possible path to ATH and subsequent breakdown after FOMC rate hike in Feb. The previous ATH top and consolidation zone at 4545 should provide strong support IMO. Pullback to support > springboard for next bounce. Pullbacks suggested to the 1/3 speedlines, actual results may vary. Each 1/3 retracement, if followed by a...
In the 1-hr we have Squeeze Momentum green fading and the green bars have turned gray. This suggests price may have topped and is a warning to close longs. When the bars fall to centerline, dots change color from dark to light blue, is a signal to enter short side. You can aggressively enter shorts earlier based on chart formations, other signals such as RSI...
If you sell short or speculate in put options because: - Price too high! Must come down! - RSI Overbought! Must go oversold! - Another ATH?! Sell it! Will dump soon! - It's an Elliott Wave and Theory crafters say "Sell today!" or "Sell on a specific day I magically forecast!" -I feel lucky, punk! Make my day! Then you will lose money. IF this monster rally...
Irrational Exuberance! Bad news is good, good news is gooder! The gaps tell all. Measured move from the runaway gap ought to end up around 388 +/- 2 pips. There must be and certainly will be a pullback from a last exhaustion gap, may gap up sometime 1-3 Nov. Fed minutes on 3 Nov may be catalyst for pullback. Likely pivots shown, 1/3 speedline most likely, given...
Just an idea. Every correction has been a zig-zag since 2015. Last year the zag came in late October. Cycle this year seems to lag a week behind. Time bars suggest this rally maybe near end move. Not saying that gap at 360 will fill, just that it might fill, it's a price magnet TBS. Price could consolidate and pivot again anywhere between. Some kind of pullback...
Every correction since 2015 has zig-zagged. Going again? IDK, but eerily close to dates, peaked on 12, sold to 28 Oct 2020. This one is running a week behind, looks like we peaked 10/21; to confirm on Fri 10/22, ERs tanking FB, SNAP, INTC techs overnight; if double top is in, might expect weakness until ~5 Nov, if the zigzag pattern repeats. Bull trap?! Not...
Wow. Just, wow. Who knew? Melt-up fgs. Murrey ultimate resistance within a buck. Double topping? Unsustainable parabolic. Not shorting this yet, better to buy the pullback IMO. Gonna hit a wall at 4525 IMO, PRZ. Probly squeak higher Weds. GLTA! PS This is a pure interest and education post. No position, risk-off. Murrey called the bounce, can it call the...
It ain't over till she sings. Overbought, again... gaps to fill near pivot price. More volatility incoming IMO. Trade with care!
Price entering Buy Zone. Expect pivot within 3-5 trading days IMO. Falling Wedge formation, inverted H&S on Right Shoulder. Friday will be daunting and may well mark the LOTM. September Triple Witch was ferocious, expect more same. Pivot likely Mon 18 Oct IMO. This ain't investing advice, Do Due Diligence, GLTA!!
Breakout from the downsloping TL on Thursday 10/05 is Bullish. We see the violent churning consolidation of the correction which struggled to find support trading below the 200 DMA in first week of Oct. Price broke above 200 DMA on the 5th, moved above the DTL and also broke out above former resistance at the $3465-75 zone. After a breakout, we almost always see...
Gonna find out real soon. So Oversold, due for a bounce. So far this week every rally met with more selling pressure. Something gotta give soon... where will it hold? No positions, tried calls several times, all fizzled, and then the EOD dump. Looks like an ABC correction, so far... if this is an impulsive 3rd wave it's gonna get really really rough soon,...