The Nasdaq has just hit an important target. The 1.382 extension of W1 length from W4 low. If confirmed it would be a 5th of 5th of 3rd. Quite big. Appears to be confirmed by RSI. We'll see in the next few sessions if this is confirmed.
Nasdaq has entered the 50% to 61.8% retracement area of the 5 wave move and coming close to the previous wave 4 lows. Typically this is an area of where markets reverse. Also, volume spiked which signifies capitulation from one side or the other. Shorts need to be closed, if not done when there is selling volume that's when you get a short squeeze. Most pieces of...
Overnight the nasdaq futures contract has hit and bounced off the 1.618 extension of A. Or is it a 3? Only a return above the A low would confirm the move from ATH's is a correction and not a new bear market. Yesterday the cash market penetrated the 1.382 extension of A. Personally i'm going with it allbeit on a very short term basis (3 minute chart)
The strategy gave a buy for TSLA in the closing minutes of Friday. Very odd considering how the general market closed but interesting so it made it to Pick of the Week.
2nd trade for the week is Long USDJPY. On this pair the model is quite consistent, steadily grows (with obvious ups and downs) but the uncanny ability of anticipating very sharp moves.
I don't think anyone has come out with something like this yet, but the system says buy, even if it's the infamous Evergrade. You gotta buy them when everyone hates them.
