I'm seeing EWT numbers as high as Fibonacci 1.618 or 5443.75.... However my knowledge of the pivots tells me, we are at just about at S 4.3 5009 and I think the market will raise. to R5 or R6 the normal Pivots cycle from daily lows, S5-S6 where we buy and daily highs R5-R6 where we sell. Kauai Dave's Pivots Traders.
At the last new ATH I published a suggestion that we had hit a major top. That we might continue down for a while... It happen on a 2 hour chart we are in wave c down. PTs in blue at Fibonacci levels, with Squeeze stochs changing to strong selling. These levels match Pivot Point levels S5, S6 and beyond. But i don't expect us to go beyond S6 and stay there...
The landscape is littered with people shorting, and people who have claming "we're going down". To go down we need some news, over the last 10 years often bad news has driven the market up so many times.. Regularly we hit a new all time high every few days... So I am only suggesting something has shifted, we have had two weeks of selling. Other than news...
This is a tripple thrust pattern. After 5 waves UP, we get a series of lower highs, then a bear 5th wave down.
I have studied all the timeframes, from 3 day to 3" we are going down off of a set of lower highs and lower lows, even though today was bullish I forsee selling down to 5153 oe even 5091 "1" and 1.618 fib extension.
I have long shared my idea, based on 5 years of backtesting, that Fridays are usually down days and Mondays are usually up days. But since today is Friday and we have just reached new ATH, watch out for selling on Monday, at least until we reach these 4th wave levels, then we can go up on the next 5th wave.
After Being Bullish for 3 days and riding wave 5 up, we reachew new ATH. These are the brest place to short. new Targets on chart.
This is 6 months of every day's Pivot Points. One point I want to make is that buying an S5 or S6 and selling at R5 or R6 is very doable trade, and you really don't need to worry about going outside the S6 ot R6 range, it's a revelation when you accept that fact. Going long here at S6 is literally the safest long there. Selling and Shorting at R6, same thing. ...
Some keeps pushing the idea that EWT elliot wave theory isn't related to fib numbers... notice that the Profit Targets ar based on Fibonacchi extension numbers
We had a 4th wave down starting Friday at the open, it unfolded beautifully, counter trend, complex and corrective. This wave has everyone thinking we are going into a big selloff. 4th waves always surprise everyone.
Take a look at the first ATHs back in February 2022. The NQ went down almost 7,000 points overall, from ATH to Oct 22. We are i the same kind of market now, new ATH happen all the time. Sooner or later, I can't give you a date, too many factors to calcualte and in the end it is when the Market deides... But, sooner or later we enter the next bearish phase, and...
Elliot Wave Analysis: After we completed 3 sets of 5 waves up between 2010 and 2022 we got 3 waves down, and a wave 4 or D up. Most traders believed we were going back to the 10 year Bull Market, and new ATHs, again. However I pointed out the tripple thrust elliot wave pattern, little known outside of EWT theorists... Let's call it a lower high, and suggested we...
WE have a multiyear double top. Go back and read my Idea about shorting any and all new ATHs in late 22. I made a lot of money at ATH in 2021. shorting it gets easier riding shorts down in a trending market. I will add more charts later, just notice we have exactly matched ATH.
I couldn't resist sharing this, out of all 12+ of my overlays this one with Mort Diggidys Renako Overlay ATR Green/Red indicator works the best. Look how it colors allo the candles green to indicate we go up. This is a 3 day chart, so 18 days of buying according to mr Renko.
I discovered that PL a precious metal had fallen 100 points and nobody noticed. I posted it as a buy 3 times and teach time it went up 30-50 points 30 points. I didn't watch it for a while, and it had a trading life all on it's own. Now i se it as a huge bargain again.
Google AI said that 75% of the time since 1950 the stock market rallies in december. Simplertrading Gurus predicted this would be a BUY month all month. However going back to previous predictions, if you recall after the FOMC FOMO ralley I pointed out that we would have chop, sideways action, regular trading days all along the upper 1/4 of the wave, and once...
Tonight, Sunday night in GLOBEX we are seeing selling. As I explained in my last chart I expect us to go UP tomorrow selling is probably like this until the wee hours of the morning when we go UP IMO
The elliot waves i have explained on the chart, with fib extenion levels of .127, 1.36, 1.50, 1.62, 1.78, with 1.5 being the mean. there are numbers up to 2.44 and higher... As i have explained before at any instant there is a 50/50% chance of going up or down, all other indicators i have seen, except Squeeze pro, and EWT 80% chance of success. So be ready for...