maikisch

maikisch

Nvidia is trading just shy of it's 1.382% Fib extension level at $609 where we would normally see a wave 3 terminate in the premarket. If price has designs to extend, it will more than likely do so in a wave 3. It will be interesting to see how this coincides with the broader SPX cash and futures market, which appears to be in the exact same scenario. The...

maikisch

It's been a while since I updated followers on the SP/ES. I recently moved my daughter to Spain after graduating from college...so my wife and I are really just getting used to an empty house. Nonetheless, let's get into it. First and foremost, the primary circle B wave will be taken off the chart, and that clears things up for us. Why does it clear things up?...

maikisch

Nvidia remains impulsive and within it's wave iii of v of 5. The manner in which price is sub-dividing and given it posture of finishing of it's wave 3 shortly towards the $600 area, this could complete prior to earnings, or result in a sell the earnings event.

maikisch

Because of the manner if which price has extended I am still looking for a proper wave 4 and OMH that will get BTC closer to it's ATH of just under $70k. I did a cursory check of contributed ideas on trading view and there appears to be many people calling for a top. Currently, there is nothing suggesting that. Currently we are in the beginning areas of a wave...

maikisch

We are definitely in our wave v of 5 of larger (1) now. In the smaller patterns a move to $650 is not out of the cards...however, please understand your trading the final machinations of a very long term pattern. A breach of the $400 will signal a potential move back to the sub $100 area.

maikisch

With this mornings breach of $507, and as long as price is above $473, we should now be sub-dividing higher as per the chart attached in our final wave 5 advance to complete a very long term pattern and a very high potential of a MAJOR TOP.

maikisch

We're now getting a confirming signal that last week's top was at least a local top. Primary analysis (in Blue) however, because we did not make a new high in the SPX like the DJIA and NDX, the black (B) wave count is a valid EWT count. I do not favor the black pathway mainly due to our MACD signal, the other major indices hitting new highs, and lastly the price...

maikisch

In the black count, price has now overlapped on itself making this direct advance in a wave 5 higher unlikely, but not entirely dead. This could morph into an ending diagonal in which overlap is a tell tale sign...but the purple pathway looks to be the most reasonable path as of this morning. Best to all, Chris

maikisch

As per previous postings on my NVDA analysis, price action is still in the posture where either the purple or black counts can play out. It's prudent to remind followers that whether purple plays or black, we will eventually get new highs...however, this next high could be a major top for Nvidia as I have a full longterm count. Weekly Chart .

maikisch

There is no doubt the rally off the October 2023 low has very little distinguishable structure to it. However the MACD indicator has made a new high so we DO NOT have negative divergence telling me, we will get a downward retracement, but this recent rally is not done to the upside. For this advance to top in a more sustainable fashion, we would be rallying on...

maikisch

So far, tier-1 crypto has been very predictable. I have no reason to think BTC will not get to the next fib resistance area of $46,500-$46,600.

maikisch

The last time I updated Nvidia I stated that below 459 there is a higher chance we decline closer to $400. Read my last update here. Price did decline to breach $459 and we have subsequently moved to the upper trading ranges but have yet to make a new high. Below the previous all-time high of approximately $506 I still favor a move down closer to the $400 area.

maikisch

We have our first indication of a top in bond yields with price overlapping and losing it's impulsivity to the upside. However, a top is not confirmed until yields breach 3.40% which is our wave 4 of one lesser degree. To do so should confirm the beginning of our wave 2 decline into the target box, and over time.

maikisch

I remind in my updates periodically, that nothing clears up confusing-overlapping price action, like more price action. Meaning sometimes, as an analyst, it can be difficult to forecast precisely what is playing out, until right before a pattern concludes. This current pattern off the October 2023 lows is one of those occurrences. Corrective waves can take on...

maikisch

This evening I was watching TV and I get an email alert. The title of email, “Wall Street’s 2024 SP500 forecasts are out, are you positioned?”, … and to my surprise (not really) the future looks bright for the US stock markets next year. I immediately thought to myself…What did I click on to get this garbage? LOL Truthfully, I didn’t think that…I eagerly went to...

maikisch

We're getting alternation between an almost indistinguishable wave 2 and this current wave 4. However, if we breach 459, then we have declined lower than .50% of wave 2 and 3, and although we have NO overlap, the chances are high we are no longer dealing with a wave 4. Therefore I will keep this simple, above 459 and we go higher to complete this larger...

maikisch

Currently I have NVDA starting a c-wave of iv down to 467 minimum. If at anytime price breaches the $449 area, chances become very high, NVDA may have topped. Under that scenario, I expect price to find support in the $400 region and to hold that area and rally, could mean that is our minor a-wave bottom. Suffice to say, if you own NVDA, raising some cash at...

maikisch

In the micro count, it appears we're in our wave iv with another low to come to complete. From there I am expecting one more high to complete this two-decade pattern.