Leg C satisfied leg AB .786
Target is BC 1.618 $17.19
Study negated if origination 36.01 exceeded.
VXX is just above a Bearish channel, anything below 23 I will add more penny puts.
Oscillation remains below 20 on a daily chart.
No one is really betting against the VIX which is odd.
Leg C 337.73 requirement met (.786)
Leg D 378.49 active target (1.618)
The target appears exaggerated.
But we have extremely overvalued tech stocks chasing new highs with no end in sight regarding;
Fed Corporate Bond buying,
Inflation talk (first time I can recall),
No reports of REPO activity with recent healthy dip.
Origination 332.01 exceeded negates the...
Leg C of an AB=CD satisfied.
Target is $1700 range.
$9700 matters on the oscillation
$7700 matters on the demarcation
Remind myself we are viewing something that swings in value from sub-$1000 to $20000 to $3200 to $13000 to $4000 to $12500.
Where there is no ceiling there is no floor.
Sell below 37.51
Buy above 39.06
Current targets - $34 - 30 range
Exaggerated move for the next week or two- $19
Price extension dips $3-$7 below current price action.
Price action within current trend lines.
Ichimoku just dipped negative.
Loss of 1 Standard Deviation (-32.4%)
Strike Level: $25.6
Probability for in-the-money: 32.9%
One reliable marker used in the markets is the gut check. Its that sharp move one direction which pulls in eager speculators before the hard reverse. Some call it FOMO others cry manipulation. Its basically something with more capital than you expecting an emotional response and it works very well.
BTC likely just pulled one of these and now we have new range...
See chart for details.
AB,BC moves have been satisfied.
Sub 8k range current target.
FWIW past moves negative, post BTC bullish momentum, have resulted in alt-coin price gains.
Definitely worth mapping alts this week for the crypto traders, gltu!!
CURRENT LEG SUPPORT A STRONG MOVE DOWN 2700-2500 RANGE
CURRENT DOUBLE TOP
CURRENT OSCILLATION TURNING POINT
WITH A LOT OF HANDS HEAVY LONG SUPPORTED BY CHINA TRADE MEDIA PUMP ES COULD VERY WELL SMACK DOWN INVESTORS 3RD QTR
3000 IS STILL A C>D TARGET
CURRENT MOVEMENT IS B>C
A>B HAS BEEN SATISFIED TWICE WHICH MEANS A DOUBLE TOP
didnt expect this with Long support all year but hurricanse dont help CL prices jump, the spreads are thin and well thats life
technically $64 is possible but lets be realistic and just keep it @ $66 for now
Off for the week in Roma Mexico City, but couldnt resist a quick chart study.
CL has some nice price action which always results in useful targeting for trade exit when bigger moves surface.
Cheers and beers!
CL had some nice price action this week to complete required fib level for leg C of an AB=CD pattern.
See the chart for details but its pretty straight forward. We have room to test the 67.70 price point but that just pushed the target price further down.