I'm not saying when, maybe today, maybe next Tuesday, but soon. We are so high above the Weekly R4 in the Camirilla Pivots and WAY up high in Multitimeframe VWAP . The VWAP is like a rubberband... We are up in nosebleed territory the rubberband needs to snap back, then I will be going long again. I'm not a Perma Bull, I'm not a PermaBear I'm a trader.
I was accused of bragging the other day, and I'm sure there is some truth to that... I said i am rarely wrong look at my 4 year history of My Ideas and find calls that didn't work out in the long run, yes i remained short for too long, at the 62% retracement level, but I gave in and have made long calls for a few months now. A friend of mine said after I led 15...
If you have been around here for 3 or 4 years you will recall me declaring 2018 a 4th wave correction, and we went down for a year, then I said we would go up for a final 5 elliot waves, and we did. If you have been around 1 year you will recall my shorting the exact 5 minute candle last February when we went down hard and fast. then up on what I said would be a...
We have many positive factors in play, Seasonality ( election year ), the FED, an Camarilla Weekly S4 bottom, a Donchian Channel bottom, Itchimoku Clouds under us, and a Doji followed by a bullish harami, and then bullish engulfment... I tend to get in early while everyone else is still short, but this time I waited for confirmation to post... my target is the 200...
We are at one of those places we Elliotitions call, "a pivotal moment". five waves up in the last bullish move, an A wave down, and a 1 day B wave up. We could get a continued B wave down, or "The Bilderbergs" ( a must read book if you want to understand how "Paper" moves the markets). could go back to their buying program, or continue selling on Monday. If...
This chart shows the 38% retracement of the entire last major set of waves up at 3059, but the 200 EMA sits at 3081, and historically the 200 EMA is the heavyweight EMA, hard to break through. The reader should also take note that the Bollinger Bands are in roughly the same range 3040.. These are all likely candidates for the bounce. a 38% retracement is Bullish,...
There is a head and shoulders sell pattern in a 60" chart. If you study this chart closely they have been bouncing off the weekly R2 on corrections. It will be interesting to see if they start buying again there. I will go long there again. I colored the weekly R2 in yellow so you can easily see it. It's at 3160. The 200 EMA is another likely place to bounce 3135.
Ecclesiastes 3 King James Version (KJV) To every thing there is a season, and a time to every purpose under the heaven: A time to be born, and a time to die; a time to plant, and a time to pluck up that which is planted; A time to kill, and a time to heal; a time to break down, and a time to build up; A time to weep, and a time to laugh; a time to mourn, and a...
I was the biggest proponent of shorting, or among them. I began shorting at the exact 5" ATH On Feb 24... Then reentered at the 62% retracement of the bottom set in March. There are so many technical, political, financial reasons to short, but what is the point? Being right and not wanting to admit you are wrong? When the 8000 ln Gorilla is rampaging down the...
Many of us who see short opportunities, like we saw today, and in all fairness we reached the first lower target, but then the federal government, or the Bilderbergs, or whoever you want to call them, stepped in and crushed the market upwards.. So I'm willing to go out on a limb and predict the SPX will follow the path created by the NDX. It's not about technical...
On February 20th I shorted the exact top of the market... Call it luck if you like, but I nailed it.. At that time there were extremely few Bears it was like in 2000 when most people were afraid to short for fear of "Infinite Losses", and Wall Street Analysts were saying, "We have entered a new paradigm where stock market corrections are no longer necessary". It...
We have confirmation in place that in fact we corrected down after the 4th wave up. We have done a Wave A down, and a wave B up. I would not be surprised if we do a wave C down.
In this Daily chart you can see how all the down waves could be simply an A-B-C correction before going higher.... But if they roll this over into a Bear market, an excellent place to risk a short with a catastrophic stop.
This is the Daily chart, You can see the 4th wave up is complete, and we have rolled over, the final fifth wave down should be next. Nobody knows with certainty what the Markets will do.. They could find a cure for COVID-19 and we sky rocket, or things could continue like they are another month of unemployment, and Economic stagnation. In that case more down...
The TREND could be turning down. If so the Market is taking a moment of rest in the weekly charts.
An update on the Idea of a IVth corrective wave following the classic Waves I & 3 down where wave II was an easy to read ABC corrective wave up. The pattern is intact for the IVth wave, wave 4 didn't go past wave 2 ( of the corrective IVth wave. We are now in the 5th wave of the IVth wave going up on weak volume. Roman numerals used to indicate the larger...
Based on Elliot Wave patterns, Fibonacci numbers, extensions occur in fib values. My last chart was a weekly chart I think, cause this one shows possible dauily retractions comming up at .38 or .5 most likely.
I believe we will get a 1.38 extension on a wave 5 before the next correction at the 1.38 extension might go to 1.5 fib extensions there are fib numbers beyond that but the odds go down explained by Mr Elliot he predicted a Bull Market Supercycle and was right. .