Should go up till late spring, Summer when we should top, then have a big collapse in the fall.
2/B count be complete or we are making a more longer correction.
We are moving much lower, since we broke out of the wedge/triangle.
If you want to play it safe, wait for a break of this triangle to get direction. My bias is slightly down because the first wave last week looked like a three wave structure to me and not 5 waves. Also, there looks to be alot of selling pressure, we spent more time at the bottom of the triangle than at the top. The next move will be explosive, so I'd rather sit...
After looking at all the possibilities one more time. This is back on the table. Very tricky and coiled here, could go either way.
CLVS spiked in premarket after approval for priority review. We are making an impulse up now. I think this is a valid count. Should expect a high around 11.7. If we cross 12.4 my count is invalidated. I am still anticipating a drop below 8.
The bounce we got this morning looks pretty weak, so I expect more downside. Before I had called for a triangle. To be technical this looks more like a WXY corrective structure that finished than a triangle because the C leg was super short compared to the next and preceding waves. This count is invalidated if we break above 10.4
Last Wednesday CLVS went up more than 25%. It looked like we made a bottom and were now in a new uptrend, but over the past 3 days we are almost back to where we started. That doesn't by itself nullify the uptrend, but one must always be aware of other patterns and EW counts. This is a possibility shown, where we are forming a triangle. The internal structure of...
Here is my long-term prediction/wave-count for gold. Gold will spike at the same time as bonds, this will bring in possibly hyperinflation at which point the currency will be reset or a new currency forms and we go back to a gold standard.
Leading diagonal completed, now in wave 2. Out of all stocks biotech is probably the most susceptible to wrong Elliott wave counts because they are volatile due to news and trial results having a heavy influence on the stock. Nevertheless, this is a view of what the future may hold.
We are in cycle wave 4 for the US stock market since it's origin from the 1700s. This is going to be either an expanding triangle or expanded flat forming, we'll know more once the next wave down forms (if it completes in 3 or 5 waves). This is similar to the 1970s (which was a primary degree wave 4) but in a much larger scale.
It's always good to go back to the long term picture and see where we are at. I've had a lot of iterations of EW counts for the Dow Jones. After contemplation, I think this is the best one. I previously thought that we would get down to 1980 levels when we bottom in supercycle wave 4 but now I think that is impossible. Most likely we are forming an expanding...
Looking for this zigzag to complete before going long.
Pretty clear expanded flat forming, next year will be very volatile. SPX going down below 2100
Here is a scenario where the EW shows the B wave as a triangle. There is one other alternative where the B wave is a zigzag and b of B is a triangle, so we are in 4/5 of c of B in that count. If the whole B wave is a triangle as shown look for one higher low followed by one last top in Feb/March. The C wave will be devastating and I have us going down to 2016 lows.
We are in the midst of a 3rd wave, should get new ATHs when iii of iii of 3 is underway