When blue-chip large-cap stocks complete cycles, they are often "canaries in the coal mine" for the entire index they're part of. German public market investors should invest cautiously going forward, since a major market correction is likely to occur this year.
MTCH: Online Dating leader Match.com took a nosedive with the announcement that Facebook will begin competing in its space. The technicals suggest a good buying opportunity is setting up as the major correction of the high degree 3 completes.
The S&P 500, along with other major US market indices and ETFs, is setting up the completion of a triangle correction that could mean a bit more short-term downside before a thrust upward to complete the final subwave of th bull market (the 5 of the 5). A major correction should be expected immediately thereafter.
BTC''s latest grind upward has invalidated various trendlines (in both arithmetic and log scales) that have contained the correction from the all-time high, making a strong case that BTC's correction is complete. Nevertheless, the lack of volume relative to the rest of the correction remains unconvincing. Furthermore, the awkward geometry and shape (three-wave,...
After last night's move up, the possibility of a triangle correction that would complete the cycle-level 4 emerges. If this chart plays out, buying the E could be the BTC trade of the year, since you would be buying the bottom of a cycle-level 5 impuluse which should easily take us to new highs before its completion.
The deep 73%+ retracement level is...
Here's my latest view of the BTC correction.... which I now view as almost done with the A, a diagonal triangle. I expect the B to be a substantial retrace up that should last several weeks (possibly 2+ months), followed by a drawn out C later in the year.
We are in the corrective phase of BNB's first cycle. At the moment, it is unclear whether the correction ends after this last leg ... or whether this current correction will be combined with another corrective structure for a higher-degree combo.
LTC is showing high correlation to BTC and is in the middle of a cycle-level correction, with more downside imminent after this brief rally (which I believe is a "B" corrective structure before C takes it to a new swing low).