Let's start off by saying this: I do not have a bullish or bearish bias. I think this outcome is actually extremely unlikely. It all depends on how markets process the COVID news over the next 48 hours. Here are the facts: Every single record (Hospitalizations, rate of deaths, rate of infections, active infected cases) in regards to covid, has been broken in the...
Charts/Wavecount suggest price may go as high as $18,800-900. but it's likely that shortly after this we either make a double bottom in the 16K range, or a newer low in the 15K range.
Just what the waves suggest :) The timeline will not be exact.
5th Wave Extension Scenario Topout Zone: $17,500 - $17,900 Retrace Zone: Minimum Retrace is $13,800. Likely to be wave 4, looking for the $12,700 - $11,000 Range
EWT - A-B-C corrective wave, almost text book, short continuously in the range box, cut your losses after $16,500. This is a textbook setup though. Take Profit is $15,800.
My wave-count was meticulously tracked all day, and the following conclusions I got were this: This market is so undecided in what it wants to do it's insane. Lot's of choppy price action, someones immense amounts of volume comparable to at other times none. But the trend is bearish for the short term. It is likely we wake up to BTC in the upper 14K range...
It's very likely based on the volume and lost momentum that Bitcoin could have a slight flash crash down to the $14,900 range. Takeaways: - The bullish hype momentum has slowed down, and the longer it takes the bulls to pick it back up, the stronger the bearish case is. - A second drop seems likely, not more then 500-600 points though, I suspect we'll see the...
NOTES HTZ has recently secured 1.65 Billion in funding, this has provided a potential solution to their current bankruptcy situation which has caused the stock to tank so low. This has sparked a whole new set of impulse waves (likely a first wave extension). Generally speaking a first wave extension means that the 5th impulse wave will stop around the 1.618 fib...
NOTES Verizon has surprisingly tanked after the new 5G announcement that came-out, overall, it wasn't too surprising. We're without a doubt in short term bearish sentiment for the stock. However this sentiment appears to be coming after a very decent impulse wave rally (not the traditional pattern, appears to be a Moving Ending Diagonal Impulse with converging...
SPY has failed to pass the 343.50 range (0.618 of overall down move) on top of that I'm seeing BEARISH divergence on the OBV daily chart like never before. It's very likely that there's a turnaround point within the market here. Seriously, I've never seen daily divergence on the OBV of spy like this before. This is as perfect of a short setup as it gets.
PLUG has finished it's latest bull-run and is in the midst of a much larger correctional wave. Just my notes based off the wave-count I see. There could be a minor ABC corrective wave that's already finished, for this reason the price point of invalidation is: 13.55 Looking for a pullback to the $10-$9 range.
GNUS was a glorious pump and dump short squeeze opportunity that many marvelled at. But it's not your regular pump and dump stock, it's remained fairly liquid with investor interest at a higher rate then others. We've noticed a trend change over the past month from a downtrend to sideways. I believe there is a shift from supply to demand happening here and it will...
On the matter of the S&P 500, I am long-term bullish. In fact I posted an idea suggesting $380 SPY within the next quarter. After a second look at this past week's price action, I still believe we'll hit $380 SPY, it most likely will be in 2021 though. We've had quite the bullish momentum running for awhile. I think an appropriate step back is about to take...
NKLA is currently a HTB (Hard to Borrow) stock with short interest clocking a rate of about 40% currently. Especially after the shorter's report came out, most retail traders have been left with a sour taste in their mouths. But due to higher consolidation and some sketchy price action in after-hours and pre-market; a breakout appears to be imminent. First...
Tesla will no longer be included on the S&P 500 - or at least failed to make entry when 2 other stocks were allowed last month. This company is so incredibly overvalued, this is known by everyone, all I can say is this pullback looks like a TEXTBOOK A-B-C corrective wave. Various price points to watch for are a double bottom around the $340 zone or a steep...
This is definitely not a popular opinion given what's going on but here's what you need to consider first. In 2006 and 1999 - Both 2 years before the .com bubble crash and the 08 housing crash, he Federal Reserve tried to combat these financial bubbles by increasing interest rates. In 2020 - The Federal Reserve has dropped interest rates to the lowest they've...
It appears TSLA has just finished it's latest massive move up and is transitioning to a distribution phase. If TSLA cannot recapture the upper $1500 level, I would wait to re-enter. If it does however recapitulate above the $1600 level, it does have more room for newer highs. Personally, I think it's due for a decently sized correction. Potential Re-Entry range:...
DOCU has been on an incredible run for some time, I believe the pullback we see in price recently is the beginning of a light corrective wave to the massive run-up we've seen in price. Price point of Invalidation: $203.50-$205.00 Price Target: $158.50 - $160 per share