M2Capital

M2Capital

Back from a break. Seems as if the market wants to sell down in a C wave to complete a higher degree 4th correction which takes us down to a 38.2 projection from wave 2 lows. This is the most probable scenario before we V bottom and Rip higher to complete the higher degree impulse that starts basically when the SPX started trading. Either we sell impulsively or...

M2Capital

SPX is still on track looking for a top of wave 1 in a higher degree extended 5th wave. This forecast is typical of a terminal move to all time highs (extended 5th wave). I still remain bullish and will not turn bearish until 3350-3500 in the SPX. We should see an extended correction over the next few weeks that takes us into the lower 3000s and then continued...

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Update on SPX after a little bit of a break. I think we are headed up to 3300-3500 in SPX in the final impulse wave of the bull market. Expecting one last push up to complete minor 1 with a pullback in intermediate 2 to follow before we rocket in a wave 3. This count shows good equality to the terminal cycle 5 compared to cycle 1. The bullish interpretation is the...

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Covered short position from the highs. Expecting some near term relief rallies for a wave 2 and continued downwards movement as the US dollar remains strong. Target long is lower trend support (higher degree correction completion) at ~1.07. Should have a big move to the upside as US equity markets selloff and dollar weakens.

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EUR is showing weakness. I think the dollar will rally into the new year, we should expect more downside movement in the euro before upside reversal as US equity markets and the dollar weaken.

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Per my last post about ROKU we got the move to 150 post triangle. I am expecting a move higher for earning to 160 and then the C wave correction to lead us to the downside. ROKU should follow broader NDX and SPX markets which is why I see more potential downside after earnings beat than upside.

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Still looking strong after earnings. Expecting move up to 208-210

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Considering a running flat for the wave 4 corrective structure that pairs up against the cycle wave 2 that was rather sharp and impulsive (following guideline fo alternation). We should see movement toward the 1.272 and 1.618 retracement of primary A which puts us at 256-260 top side (maybe a bit higher). I have the cycle 4 labeled as a 3-3-5 currently in the C...

M2Capital Updated 

Expecting a wave 5 move higher to complete 3 headed into earnings. This is post triangle thrust after consolidation earlier in the year. Expected Primary 3 target is 256-260. We then should see a 3 wave counter trend move down to ~235. Remaining bullish, not much evidence to be bearish.

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Expecting AAPL to have one more leg up to complete a higher degree 3 before a correction. Upside target is 256-260 and then we should see a 3 wave counter trend move.

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Update to previous post. The C wave correction should break down into a motive impulse. I counted as a diagonal and then realized $ never entered into the orthodox area of wave 1-2. The wave should be counted as an impulse. More conviction that we will get another move lower before we reverse to the upside.

M2Capital Updated 

Since we still remain well of the highs, FB looks to be setting up a longer term triangle there should be another push up to complete WAVE B of the higher degree triangle. I will look to play the short side upon completion of the B wave. Price targets to follow...

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Tracking a long term triangle for contracting price movement. Planning for the euro to have one more push to the downside before absolutely ripping. I want to be long at 1.1 - 1.025 mark

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Much like the DOW, I believe that we have one more push higher to 3200 before any significant downside movement. I count the SPX in cycle wave 5; however, we are currently situated in a primary wave 4 correction before moving higher. I expect some sideways price action to continue into the new year before we ultimately resolve to the upside.

M2Capital

Long term analysis breaks down the bull market we have seen since the crash of 1929. Yes, thats right a bull market since 1929 :). Anyways, I project that we will have one more push to 30K in the DOW before any major interruptions ensue. I have the DOW in final wave 5 (cycle degree); however, experiencing some minor sideways movement in a primary 4 wave before we...

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Expecting 3 wave correction to resolve to the upside in ROKU to at least 150$ (wave C). Currently long the Nov. 1 150 Calls - Far OTM. Volatility spike into earnings and then an IV crush post earnings.

M2Capital

ROKU in wave 4 territory expecting a Higher degree zig zag. Currently in B wave with a C wave to go to the downside which should take us back below 100$ price target. Matching current landscape in NDX and SPX

M2Capital

Following elliott principles, I am calling for a wave 4 triangle. Momentum divergence and hesitation at the 3K level supports a longer term breadth distribution is needed before upside continuation. Great opportunity for index butterflies and theta positive strategies. Looking for shorts at 3050 area and longs at 2600.