It's been a fabulous ride for holders of stocks in this company. However, I read an article concerning how the founders of this company have been selling a lot of their stock in since the beginning of the year and produced this as a possible wave count (calling tops usually leads to egg on faces).
Known as something as a bellwether for US stocks this is an index that I keep an eye on. This idea posits 3 different courses, although 2 of them are almost identical, all of them bullish eventually. Personally, I prefer the red count that suggests that we are still in the b wave of an expanding flat that will fool a lot of people.
I don't own any bitcoin and don't trade it but still like to follow it, as it's fun and interesting. It also seems, in my opinion, to carve out patterns that follow many tenets of Elliott Wave. Right now. is it in the process of completing a complex 4th wave correction? Has it finished or nearly finished a 5 wave C wave down to complete the double zigzag...
Another slightly obscure etf from the UK showing a bullish count for Japanese equities (hedged to GBP). The grey line is the price of GBPJPY showing that when equities rose the Pound rose with them. Time to go long both?
Palladium seems to be showing a classic ABC zig zag correction with A and C waves that seem to be carving out 5 wave patterns. The issues in these counts to me is whether in fact my wave iii actually completed in March 2019 as the March high is also the 2.618 extension of it's wave 1 or in fact the current bullish price action is still in fact wave iii.
Title pretty much says it all. If the bullish price action continues this week then maybe I can give these counts a bit more credence. Some decent bullish divergence on the RSI to back it up. A more bearish alternative count would be to see the correction continue down to my median line on the pitchfork.
As always, there are alternative counts but this count will be negated for sure if the downtrend continues below 13.43. Whatever the faults of this count I can't help but feel that we may be witnessing some sort of protracted correction before things resume higher again.