Both Silver and Gold broke down market structure.
Although I'm still bullish on anti-dollar trade. Thus will watch closely to get long entry lower. Probably waiting for a 9. If the 9 doesn't look tradable I will look for a combo or sequential 13.
gold and gold miners have finished wave 5 at resistance. Price might retrace or go sideways. Watch closely the 0.236 to 0.382 level to initiate longs if you are bullish
Right now is a good opportunity for neutral trade setups: strangles, iron condors.....
I have been mistakenly bearish on equities lately. Hope this one is a better call. Stay safe, traders!
the last low was on the 200 week average, a very powerful support traditionally.
I am not making a bold call that the ultra bottom is in. However looking at the TD D-wave 5 wave structure, we can speculate that price is finishing 2nd wave correction in a 5 wave up move.
This setup will be invalidated if BTC breaks below 3100.
But if we can form a higher low...
Chips and semiconductor companies are suffering. NVIDIA just guided down ahead of earnings. The stock has been overly pumping due to BTC mining hype. AMD is likely going to follow suit. My analysis says that AMD earnings will suck hard.
Price target is projected on the chart.
I will load up a lot of put spread tomorrow's morning.
Stay safe, traders!
A lot of bad news. All the guidance saying lower. FED always has dovish comment. Overeacting rally from President's tweet.
No sign to short yet, but I think it is going to happen soon. And when it does, embrace for impact. I think it is going to be a big crash.
I want to go even further to say we can see 2000 S&P and 10000 Dow.
I might be terribly wrong, but...
The market is dropping. All my previous ideas (SPY, IWM, DIA, .....) have been featuring this drop. However, BAC has a quite different chart compared to those so I guess I will post this one for reference, since we are having a big j confirmation red candle today.
I think we are on wave 5 down. the target is the red box. I will look for a finished setup 9 and...
EEM just broke 50 day for the first time after quite a while.
I think the downside wave is finished, as wave 5 reached the 1.618 extension of wave 3 perfectly. If price in the next few days breaks above upside wave 1 I think it is a great time to go long, because wave 3 is usually the strongest and most impulsive wave.
The downside wave 5 also hit and bounced at...
AMZN just completed an ABC corrective wave at a 9 and 13 combo and yearly pivot. The weekly chart also posted a 9 exhaustion signal as well.
This is either a bounce to a lower high, probably at 200 day, or a spike up for new ATH
Stay safe traders!