I'm sure when I first posted how high my forecast for AMD was most of you scoffed at it. Well, look at where we are now. I still feel we are targeting the 1.382 next @ $193.30. This isn't a requirement though as you can see, we are in the target box. When we hit the top, we will start our wave iv retrace which will bring us to the $150-$160 area before raising...
Gold has been consolidating for a while now with-in this wave (5). Structure appears to be waiting for wave 3 of iii of (5) to start. These corrective waves with-in an impulsive count can last for an unreasonable amount of time. There is nothing that dictates the amount of time ANY wave has to take, only that corrective waves are comprised of 3-wave moves. These...
This latest move off the $118.02 bottom made on 19 Jan appears corrective to me. In order to create a 5-wave move I just have to really force it and when you have to force an impulsive move, it's probably an A wave in my experience. On the chart, you see a turquoise count (ALT), but this is becoming even more likely than my white count IMHO. Until the white count...
First thing I want to point out is we have yet to breach the previous low the 1HR MACD made on 06 October 23'. We haven't even come close. This is re-assuring to me that the prior decline was the A wave of this larger count. We are still in the target box too. Even though Tesla dropped almost 20%, Rivian has held up rather well comparatively only dropping 5.3%....
Welp, in my last post titled, Thought Experiment, I stated we would get a "hard fall which would coincide with the strength one would expect to see from a C wave of any degree". We definitely got that hard fall alright. Tesla fell 17.87% from yesterdays close to today's low of $180.06. This fall isn't over yet either. As the chart suggests we could fall down to...
We never got the confirmation/clues I said we needed to say price had carved a bottom. Today, we breached that $15.12 bottom, so the previous impulsive count has officially been invalidated. As previously stated, we now look towards out next levels of support. On the micros we bounced off the 1.236 fib but the next larger line of resistance is $14.13 @ the 0.786...
As the title mentions I am going to predict what I think the earnings report will result in. But first I want to point out that I have changed my ALT back to my primary. As I have said, I've been leaning towards this count for some time now. If my old-time followers remember, a couple months ago I said the bottom for (2) should hit the $180 area. Price hit $193 on...
I think I may finally be on to something tonight. After looking at/refining this most recent decline, I drew some fib extensions, and look at how accurate this one seems to be on the 15min chart below. We bottomed on the 1.118 extension to the cent. The other lines are acting as resistance/support as well. This to me, is the most probable area for these mini-a-b...
In my last SPY update I mentioned I felt we were still in an ED due to the way price has been behaving and the way MACD has been acting as well. MACD made its last high all the way back in wave 1. That shouldn't be the case if this was a "normal" impulsive wave. If this is in fact the correct count, then we should have a b wave retrace soon before heading to...
Today, Coinbase made a new high on the 3min MACD, which is a very good sign. It shows this move up, as of this writing, is healthy. This looks like a 1-2, (1-2) forming as of now. The clue I will be watching for is MACD to make a new high above todays on the 3min chart. This will signify we're most likely in a 3 of (iii) of i of our next larger wave (5). Zooming...
Today price dropped yet again but then bounced off the 0.786 fib retracement. MACD DID NOT make a new high on the micro 3min chart, and price has remained choppy. This makes me feel there may still be some downside left. Also, due to how low MACD dropped on 12 Jan I am beginning to feel my turquoise ALT has a higher probability of coming to fruition. The structure...
Today was a good start but nothing is confirmed yet. We raised strong early in the day and then spent the remainder meandering down. I had mentioned in a comment that we needed to watch the 0.618 fib @ $16.65 as a possible resistance level. Well, as you can see on the 3min chart at the bottom, we smacked into it and then got rejected. I was hoping we would drop no...
With the price action we're seeing today and a request from a follower, I wanted to update y'all on where AMD is in the count. As you can tell we are currently on our iii of 3 of v of ((1)). The strength since the Oct lows of last year are a testament that we are in fact in a iii of 3. We have literally almost doubled since that time. If this thing is to continue...
Meta has just barely pushed out of the top of my target box. This is still the area I expect it to end and isn't entirely surprising as I am counting this as the wave ((1)) of III. Wave 3's of any degree are very strong and the most likely wave to extend beyond standard fibs. This high is on neg div and should be concluding soon. Once it finally does top, the next...
As much as I want this thing to have bottomed, it may need another low to make first. The reason being is when you zoom out to the bigger picture, look at the descent from the 26 Dec high. It has been a very strong one-sided move. This is very typical of C waves. Not to mention the MACD made its lowest low on 05 Oct. The two counts you see here are very close to...
Not really much to add from my previous posts. We raised higher as expected and I am still waiting for us to reach the 0.618 retracement fib around the $192 area. Depending on what happens tomorrow, I will possibly buy those couple puts I held off on Friday. I would like to see a more drawn-out wave 4 but we shall see what price has in mind. I would also like to...
Looking at MACD and the structure price has carved out, the bottom appears to be in. We still don't have confirmation though. That comes once we make a new high above $187.97. At this time, we have positive divergence not just on the micros but all the way up to the 4HR chart with the daily starting to weaken signaling a change in trend. Also, we bounced off the...
Just as with Rivian, I went back through Tesla and tried to look at it with fresh eyes. There are a few things that stick out to me. Before I start though you may notice I have a few different colored labels ion the chart. This is due to the many possible paths Tesla has in front of it. In the bottom right of the chart I have a list of what the colors reference...