The S&P complex (W), (X), (Y) corrective pullback into wave (4) is complete setting up for an increase into wave (5). Focus is on one remaining push into 3600-3700 level wave 5 fib/upside zone. Expect this terminal rally into our final resistance zone into Nov-Dec.
On the Daily time frame, TLT in a complex (W), (X), (Y) measured move targeting the 175-180 level. Looking to close out all longs on TLT into 175-177 range.
On the Daily time frame, TLT in a complex (W), (X), (Y) measured move targeting the 175-180 level. Looking to close out all longs on TLT into 175-177 range.
NFLX heightened volatility could continue forming a larger degree consolidation pattern before wave 4 is complete and wave 5 rally begins. We may be contained within the highlighted range in wave 4 into Oct before we finally make the terminal rally.
The overall markets technical evidence still supports a continuation of bull trend, looking for a wave (iv) extended consolidation. We’re currently in wave (iv) consolidation moving through the underside of wave (e) support at 197 support level before a wave 5 terminal rally begins. Still holding on to our bullish position on MSFT that could take us through Nov.
MELI is also on our watchlist for potential long entries with this corrective pullback into wave (C). MELI is an online trading platform similar to AMZN in Latin America. Based on Q2 13F filings, we have about 143 new filers by hedge funds adding to their position. Look for multiple entry at $857 and $757 and Stops at about $650. Leaps Trade Execution details on...
MELI is also on our watchlist for potential long entries with this corrective pullback into wave (C). MELI is an online trading platform similar to AMZN in Latin America. Based on Q2 13F filings, we have about 143 new filers by hedge funds adding to their position. Look for multiple entry at $857 and $757 and Stops at about $650. Leaps Trade Execution details on...
Indexes are setting up for a corrective pullback intro wave (c) with support level at about 3,200 setting up for a terminal push higher into wave (5). With the election season looming and thin market volume, the S&P current pullback labeled as wave (c) setting up for a move back above 3200-3,065 before a long term wave (5) rally ensues.
Notice that NDX is holding while NVDA is weakening into wave (C). Will reassess wave count with the next downside into wave (C) setting up for another potential rally into wave (5).
NFLX heightened volatility could continue forming a larger degree consolidation pattern before wave 4 is complete and wave 5 rally begins. We may be contained within the highlighted range in wave 4 into Oct before we finally make the terminal rally.
NFLX heightened volatility could continue forming a larger degree consolidation pattern before wave 4 is complete and wave 5 rally begins. We may be contained within the highlighted range in wave 4 into Oct before we finally make the terminal rally.
Up to the Medium Time Frames and above, NDX has dropped into critical support level at wave (4) but the bullish trend has not been invalidated. Remaining bullish against 10,238 wave count invalidation level for a terminal wave 5 rally.
Alternative wave count shows we could be forming a corrective (A), (B), (C) with major support at around 3066 or the 38.2% retracement before moving higher into wave (3) targeting the 3,700 level. Both wave count still indicates an overall bull trend that has not been derailed.
Primary wave count still shows the S&P current pullback labeled as wave (4) setting up for a move back above 3,500 suggest the shown count is correct.
Looking for a pending pullback on ETH washing out those flakes, day traders, crypto kitties, crypto bros, crypto grandmas, crypto grandpas, crypto burritos before we place some longer term plays on ETH
unless you have a good reason to short the S&P, we are still favoring this bullish move
look to place some longs on GLD
NFLX is setting up for a wave (v) increase into the 600-620 upside target. Although we’re seeing a pullback, this heightened volatility is expected to persist into election season. If this is the case bulls are setting up targeting the potential 760-770 wave v upside target.