Due to the insane move the last few years for supercycle wave 5, wave 1, 2, 3, and 4 looks like a joke. But then if you zoom in to your own chart to that specific period, it will make more sense.
For reference only.
My previous idea had been calling for a long. However, in recent days I have been closely monitoring the market and getting the feel of it. Somehow, it doesn't feel right. There are a few reasons:
On the fundamental side:
1. Record earnings from companies and yet their share prices fell, especially in the tech sector.
2. Record numbers of retails have been...
As much as I wanted the equity market to fall given that it is starting to feel unbelievable, adhering to Elliott Waves counting remains my primary tool for trading the market. I guessed the Fed is really gonna keep to their words and that i/r will really be kept low. In any case, for those in the know, we know where to look for if Fed is going to raise target...
MSFT overshot my initial target by a bit (see previous analysis) but then it is still valid. Throwover at the end of a move is common. Call it "Last Breath of Life". Well, just that it is not elegant.
Note that my analysis is bias because I think that AAPL and the general technology market is also going down.
What is the chance that MSFT will hit a peak of $256? It's a curious number for people who work in the computer/IT industry. Because 256 = 2^8. 2 being binary and 8 bits = 1 byte. I'm calling this as a short idea even though it is a short-term long and long-term short. What an oxymoron.
I am expecting that the downtrend for precious metals has come to an end. The obvious reasons are stated in the charts. However, let me give a brief explanation.
Following are my 2 beliefs on how the precious market works (in relations to the charts):
1. Silver will turn before Gold.
2. Miners, given that they are the commercials and most sensitive and...
I have to admit that this is really not the best form of Elliott Wave counts. But this is one possibility that I think is feasible and is a good risk-reward.
There are a few important points that I want to point out in this analysis (I also put two on the chart):
1. Primary Wave 1 = Sub-Wave1 of Primary Wave 5 = Sub-Wave 5 of Primary Wave 5 (I just like...
I would like to propose that the drop in NQ was over and thus my alternate count is actually my primary count now (but I need a place holder for the EW lines). What this means is that, if I am not wrong, we should be seeing a strong up move from now onwards. Here's my argument:
1. Primary Count Wave 1 = Primary Count Wave 3 -> no extension here.
2. Current Primary...