Here's a count I've been tracking for a while on the S&P500.
What is interesting is the Fibonacci confluence around 3585:
.618 extension of minor W / Y
2.618 extension of minute w / y
1.276 extension of minuette a / c
In conjunction with the top of the expanding triangle, and trend channel.
Will we get a pullback to 2700 and then a pump to 4000 over...
Today the SPX500 filled the Feb 2020 gap at the resistance of the Jan 2020 high of what has been a tremendous rally from the March lows. Will the bulls (aka the Fed and the Robinhood gang) push price higher to the ATH, or will the starving bears come out of hibernation and have a feeding frenzy? Time will tell.
Markets don't move in a straight line up and when overbought, they will revert to the mean. Given the economic circumstances and the Fed withdrawing liquidity, I think that time is now.
My primary Elliott Wave count has a pullback to at least 2900 for an ABC correction. However if we get an impulse to 2700, then I'd expect a small bounce and another drop to...
Following on from my previous analysis, the S&P 500 is retracing it's 2nd wave towards the .786 .887 area, confluent with the .618 retrace from the ATH.
It'll entice the late bulls to go long and shake out the nervous bears, but I'm doubling down on my short entry here. See you at the bottom.
Price has moved correctively up into the .618 golden pocket retrace at the same time the announcement that 1st quarter GDP has reduced by 4.8% with fears that next quarter will be 30-40%, ending the longest bull run since the Great Depression.
After a ~35% panic drop in the S&P and a bear rally fuelled by the fed money printing machine, will reality finally catch up with the market? Record unemployment, lackluster company earnings, a shutdown economy, a worsening health crisis, uncertainty for the future, declining volume & momentum - all ingredients that reduce investor confidence which will...
In my last idea, I posted an idea about a short for Gold. Now that we have some additional price action and information, I want to present an alternate count. This count is a double zigzag with a complex X wave which is an expanded flat. Expanded flats are tricky market maker plays which, in a downtrend, squeezes the shorts and bleeds out the longs, making...
While I'm bullish about Gold long term, I'm counting a triple zig zag WXYXZ that needs to play out. The recent push up touches the 1.276 extension perfectly at the .786 retrace. From here I see price consolidating towards 1400 before resuming the uptrend.
I know a lot of people think Gold has broken upwards, but I think they'll be caught out. It's a game of...
Here's another refinement on the idea I've been tinkering on over the past few weeks. It's based off the fractal from BTC in Jan 2018.
This current rally is a bull trap. Be careful, don't get caught out.
I've been following this emerging pattern for a while now and believe it's a WXYXZ triple zig zag corrective wave after the recent rally we had. I don't think the rally was a bull rally though. I think it was a B wave and we are now in a massive 2 year C wave which will play out similarly to what happened in the A wave of 2019.
A few days ago I published this idea which is playing out nicely (for the bears, not the bulls)
I think the formation is actually a triple zig-zag, not a double. But either way, the end result is the same. Here's a comparison to what happened in the last bull run in Dec...
In the parabolic bull run of Dec 2017, it all came crashing down in tremendous fashion - a double zig-zag WXY - and then a dead cat bounce and slow bleed out to the downside over many months.
My, my how history repeats itself. It has become apparent that the exact same initial pattern is unfolding. Parabolic runs will always come tumbling down, this is the...