If wave 2 bottom isnt already in (could be and the big move could even be this week). If it does dip again BUY THAT DIP. I think if market rips then we see FB go on an insane rip over next 2 weeks, if market dips then we will touch that RS area again and load the boat!!!
I expect a flush down to around the mid 3300's before this thing goes on an absolute tear. Note: it is possible we just had a shallow 2 and launch early next week, but I favor more downside to the 50% retracement area then RIPPY mode. Interesting enough because what we see on indexes though. To follow this path I would expect market weakness, time will tell.
I believe IWM is looking for this wave iv bottom (or already found it). Don't like price action and weakness from Friday, this is the one signal that makes me think we could flush again early next week. IWM was weak - so was the other index movement just a pump?? We will see very soon... Either way bulls - green path Bears - pink path and we go lower to...
Now - we all know at this point once I favor a count it goes the other way. So be smart... What I am seeing is Friday was a 3 of a 3 of a 3. It is more clear on ToS because SPY trades 24/7 on that plat, but you can still see it here. That monster move very well could have been low volume manipulation though and it was Friday (Weekly expiration). Plus a big...
At this point I would have to say I favor this count because Fridays move screams to me as a wave 3 of 3, which means impulsive to the upside = bottom is in. For bottom to be in that means it was a wave 4 and we are in a new impulse to the upside and QQQ could reach as high as 410-415 in this scenario before the next "major" pullback (excluding the wave 2...
No changes to this guy I posted this chart during the week and so far we are following my path (green arrow) perfectly. The bears need to act early next week and reject this in the downtrend zone (pink channel). If we do follow this path we could expect a dip buy in the 375 - 380 range. Note: due to potentially "shallow" retracement here it asks the question...
The bear count on PLTR is very very bad. Normally the Y will be around the 16.8% extension of X at a minimum, that puts PLTR at 11 a share. I just dont see that happening. Doing an extension off the most recent WXY would put the bottom in the 17-21 range, which I would favor more then going down and seeing 11, but anything could happen. Note: Only somewhat...
Hey Guys I didnt have to make any changes on this chart here except add the WXY in white for the correction. This is the bull count and is valid above the red stop loss line. Note: This chart is not looking good right now. Can't even say I am favoring the bull count at this point. See the MACd and RSI, both look AWFUL! But with that being said I remain in...
Hey Guys Figured I would put out my QQQ bear count right now. It is possible that we are really just in a wave iv, and that the downside from here is minimal, but this is another ALT that I think might be possible. Not really focusing on the count leading up to wave 1, but more so the corrective count. The first drop does appear that it could be impulsive for...
TSM appears to have put in a wave IV bottom, and now has broken above the ATH AVWAP and downtrend resistance w/ volume confirmation. It appears we are in an impulse to the upside that ultimately will lead to a wave V completing in the ballpark of 150-160 range. I expect to see a short term PT of 130 when this minor impulse completes, and then we should see at...
I think we will find support for wave iv in the 466 - 463 range and then go back up to retest the wedge breakdown. That will be the wave v top and from there we should get a 61.8% retracement. Note: it is possible the top is already in. Now is a good time to be properly hedged and you should be already in plenty of cash from taking gains the way up. This is...
SBUX looks like it found wave 4 bottom, should be making its move now to 138 before the market tops
After this weeks action I think we are going to get a TL retest prior to ER. Bulls - this is a double correction for a wave 2 (wxy).... BUY THE DIP (I favor this and will be buying) Bears - No extension in wave 5, top is in, short TL break.
ARKK appears to have put in a 5 wave move from its wave 2 lows on oct 5. Expect 3 waves down to 115 area for a BTD spot. ATH's coming, likely next year Q1 or Q2. Buy time on that dip. This might get wrecked tomorrow if Elon is selling 10% of his stake in tesla, so it could spark a deeper retracement, but 3 waves down will be a buy! Side note: 3 waves down on...
Apple looks like it is about to flush down for wave c to finish off wave 2. This should be a BTD somewhere in the mid 140's (bullish above invalidation at 138ish). From there ATH's here we come, and what is likely to play out as a ending diag, Wave 3 PT 160 and wave 5 165 at a minimum (if not ending diag we could see 180). Note: this follows what I think is...
On the last post I had a dip then rip scenario because I was looking for wave 2 to hit the 61.8 retracement, but obviously I was wrong and we had a shallow 2 followed by a shallow 2 and then BANG!!! We finally got our breakout we have been watching since Aug. Congrats longs!!! Bulls: All dips are a BUY! We are going to be seeing a nest of wave 3's and 4's...
QQQ continues to extend, but how far will it go? IMO the rally is either already over (topped friday) or we extend slightly into next week before a large retracement. Bull - green path (yes it is not Ultra bull because it does have us dropping, but it is a healthy correction that when bottoming will lead to 450+). Bear - top is in, see you at wave 2 buy...
Hey Guys. Hope everyone had a killer week. Market continues to just rip face on the daily, but how much longer can it last, is top in? What I am seeing is two different possibilities, and neither one of them include some crazy further extension because I just don't see that happening. Obviously the market doesn't care what I think or what I want, but this is...