We seem to have finished a Triangle count here so can look for the move higher to be equal to wave (i) which gives us a potential target of 20219 . Of course it can go higher and I'd love to see it go higher but 20k is already a great target. If price goes above 19340 , it should continue to go higher towards the noted Fib clusters. Same view goes for the...
This one has been pretty good to me and my subsribers us althought our first buy in was stopped out for a tiny loss but we were able to get in again and got some nice profits out of it. Now we're in a fourth wave so this could and probably will continue some more sideways if it stops at support. So, building longs slowly is the way to go imo but only if we see...
This is the SPY ETF but the count is the same for SPX too. I don't know if we're in a 3 waves correction here or in a 1,2 situation. - If price starts to go lower but in corrective fashion and doesn't invalidate the count, chances increase (by a lot) that we'll see a rally higher. - If on the other hand it keeps on going lower, I expect this to be a wave C or...
Price broke out of this Triangle. I'm already long with my members since last Thursday but you can still buy in with a target at 147 first followed by 160 next. This setup remains valid as long as price stays above 112.6 !
We seem to have finished a WXY correction contained in this descending channel. A move above orange wave iv is a first sign that price is reversing but you can wait for a break above the middle channel line which would be a another bullish sign, followed by a move outside the channel. Beware though, we could see one more tiny drop down to around 1750 if the...
NFLX - Looks like we could see a rally up to 570 first, followed by 662 next but this view has to be evaluated anew once (if) price reaches 570. Best is to wait for a push above 496 before buying, in which case Stops can be placed at 475 but I recommend using 458.8, just to give it some more room. Ps: Notice that we have a potential Head & Shoulder pattern,...
Looking at the other indexes, I have to favor the Flat count on this one. I don't believe to be in a 1,2 / i,ii situation but it's still a valid option just as a potential Diagonal count ! But in both cases price needs to remain above invalidation level ! Shorting is the best option for now. For non-elliottitians : Idealized chart : Other indexes are...
This is a follow up to my previous post you can check out below. Bullish view is intact as this one (any many other Chinese stocks) have held perfectly during current market correction. As long as invalidation holds, I see no reason to not have a position here and in Chinese stocks in general (other good one for exemple is ZI) Previous post: Don't...
This is a simple setup that could yield around 300-350points. Simply waiting for a break above the resistance zone. Personnaly, I'm putting a buy order at 13250 with a Stop of 60points. If we see a big candle breaking higher with high volume confirming the move, I will immediately move my stop to it's opening price. Beware fake-outs though ! If price breaks...
We have a Triangle (or Pennant pattern if you like). We could see one last small push for wave (e) that needs to remain above 379 ideally. Below that, it opens the way for a bigger & deeper pullback.
This is clearly for promotion purposes as you can see but also shows the effectiveness of the wave Principle which is deadly accurate sometimes ! Here you can see the chart that I shared with my subscibers on 29 Sep 2020 and where we are currently.
S&P500 - Despite the optimism we're seeing in the markets today, I wouldn't go on a buying spree right away. Many setups have been popping up but I still believe we're in a bad phase right now and there is a high chance for markets to sell off and make new lows. What the catalyst might be, I don't know... Maybe Trump will not acknowledge the results ? Who...
Made only 3 waves down and currently is up in 3 and is at the 161.8% projection of orange wave a from b and the 127.2% of (w) from (x). This is an important Fib cluster that can react as resistance and the fact that we also have the 78.6% retracement level of the Diagonal doesn't help the bulls. Therefore, unless we see a new high above 420, I recommend to be...
We can make the case for this being a rising Wedge Pattern or in terms of the Wave Principle, an Ending Diagonal fifth wave. Looking at the Wedge pattern, there's nothing wrong here and we can short if price goes outside the pattern. But there are two problems with this view according to the wave Principle : 1) Wave 4 did not enter wave 1 territory altough...
This is a follow up to my previous post and is here simply to show the effectiveness of the Elliott Wave Principle and one way to apply it. We shorted this ending diagonal right after closing our longs because for 2 reasons : 1) We got an Ending Diagonal wave 5 which should be followed by a sharp reversal. ...
BYND - Here's a new one for our watchlist. Not sure a retest of the support zone is for right now but once 5 up are done, it's a possibility and occasion for a long. For now, it looks like a simple wave 4 correction. A break above the channel should take this for a fifth wave higher.
Although we have the risk of this being a 3 waves rise, by the looks of it I tihnk we'll see a new high as this move has the caracteristics of a corrective wave 4. Looking at the number of stocks that keep on breaking out of corrective bases and making new highs (look at my profile) but also looking at the Advance/Decline Line we can see that we have positive...
Just follow the noted path. If wave (iv) has ended then we should see the fifth wave higher, completing a higher degree wave 1. We then need to see a corrective wave 2 that must hold above the beginning of wave 1 at 73.80 for this stock to rally to new highs.