Presumed start to wave iii of 3 was delayed (green count busted). Alternative deeper circle i-ii in blue is now my primary and we *may* see the strongest portion of this next move up soon. If the pattern is right, then a few squiggles lower are all that remain in (c) of cir-ii of 3. Aggressive entry is in this region. Safest entry is another 5-wave move toward...
Aggressive yellow sub-division of green 1 depends on an expanded running flat, not unheard of in a bullish run. The minute green circle i-ii now has an expanded (b) wave (today's high?) which would suggest a high consolidation perhaps only near the 22s. Nothing bearish at all above 20. See also Daily idea for larger pattern projections.
Updated with new log-scale fib extension targets for Primary wave 1.
Retraces may continue to be quite shallow IF this count is on target.
Monstrous +13% day. Shallow wave (2) relative to other miners, assuming its complete. A pattern like the one I've outlined for wave 1 would add confidence. Retraces may be relatively short and shallow if this is, in fact, the start of wave (3). Note structure of wave (1) off the low last year. As always, my notes aren't meant to indicate timing.
Some individual names have patterns suggesting this more immediately aggressive yellow pattern within minor wave 1, whereas others the white minute i-ii structure. I'd like to see the resistance region taken out over the next week or so regardless.
For reference against some of my individual miner ideas posted. Remember, each individual name has its own pattern.
SPY held above the 61.8% extension on this recent pullback. I believe we're in a fourth wave of some degree but unsure exactly so will tread a bit more cautiously until more certain. Will take long profits at the lower end of my targets, depending on where the price pattern achieves sufficient waves to be considered complete.
I need more proof that the fourth wave (of whatever degree) in wave 3 is complete. Today isn't helping on the micro level...but still well above support in the bigger picture.
In lower resistance region now, approaching prior resistance as shown with lower box. Need some big extensions to get back on track with the impulsive pattern I have depicted for wave 3. I'm long 17Mar17 72 calls from avg 0.68. Hyper-aggressive. Trade safe my friends...
I was early on Seabridge Gold. Should have stopped out but the swing position was small...may look to add to this position on a retrace. SA dipped below ideal wave (2) support but has a solid impulsive looking move so far off the low. Need to see something like this 1-2 play out if wave (3) is indeed underway.
RIC held above the 61.8% extension of presumed wave 4 of (3). Slightly different pattern than what I'm tracking on some other names, so the nature of this presumed impulsive move will be an indication if something else is operative. I plan to take swing trade profits above 15, or else stop out as the pattern dictates.
Impulsive looking bounce off support. I was early on this one, as I was on many other miners, but great R/R for a swing trade. Stop below 2.59 low, or trail behind higher lows if more sensitive to drawdowns. Looks like a clear 5-waves up already, so may be due a consolidation soon. I'd like to see min 4.24 reached in wave (1) but I don't plan track the...
I've got 5-waves up. May already be in wave circle-iii. Wonderful potential here with a stop below the recent 1.87 low. A ~2.20 stop may get taken out IF wave circle-ii is operative, but would also be viable if 2.33 was the top of circle-I. Green fib targets revised slightly lower from prior ideas due to lower C of (2).
Price in Palladium looks to have taken a potentially more bullish posture than my base case. Green (iv)-(v) of 5 of (3) didn't play out, retracing too deep. I stopped out of PALL for a 9% gain, leaving some on the table. Blue alt: The past two days are a good start on setting up a much larger wave (3), measured projection off the blue alt 1-2 indicated. Wave...
Overall pattern remains bullish with plenty of support below off the earlier 1-2 (not shown in this timescale). Natural Gas pulled back sharply with a gap down last night. While I anticipated the potential for a pull-back (white count), this sharp drop reached the 76.4% retracement of the recent rise. This white count is seriously in jeopardy without a quick...
Health Care sector set up for a rally into next year. Stop just below 66.97.
Strong reaction out of the support box (see prior idea) may indicate wave cir-ii is complete. Stop at last low. Initial target is resistance in wave (i). Hold a corrective pull-back for (ii) and this could fly in wave (iii) of cir-iii of 3. Green fibs are updated, matching the minute waves. White fibs are measured off of the presumed 1-2.