The same predicament exist in the NDX as the SPX. NDX is facing Fib resistance at 10,993 level a triangle pattern that could unfold into wave (2) corrective wave lower. Immediate resistance 10,715 likely to find a wave (5) top for now. NDX is leading the charge on the overall indexes rally, focus on on remaining push into 10715 wave 5 Fib resistance zone and from...
The same predicament exist in the NDX as the SPX. NDX is facing Fib resistance at 10,993 level a triangle pattern that could unfold into wave (2) corrective wave lower. Immediate resistance 10,715 likely to find a wave (5) top for now. NDX is leading the charge on the overall indexes rally, focus on on remaining push into 10715 wave 5 Fib resistance zone and from...
On the minor time frame, the 100% retracement Wave (B) looking for Fib resistance at 3226 for one pending push to new lows before a long-term sustained rally ensues.Wave (B) resistance should hold at 3230 that is an ideal point to sell/short for a wave (C move down lower into channel support around 2750.
Emerging Markets ETF 5 wave impulse is also carving out a wave (3) top. We are looking or the immediate wave (5) to fail into 44-46 level setting up for a wave (4) consolidation that would set the tone for EEM into Oct 20’
Our existing Leaps on NIO has gone deep ITM, book half profits on existing Leaps as NIO is the near term could be making a wave (iv) corrective pullback into $10. On the larger time frame, NIO is still targeting the wave (C) upside that could reach $25.
We are looking for a completion of wave (5) in AAPL with and pending wave (B) pullback into 300 level. Wave (5) rally in progress for a move towards 398 before a corrective (a), (b), (c) pullback.
FB wave (5) rally in progress with more push higher towards $256 to then complete wave (5). We are looking for wave (5) to fail into 256 resistance setting up for a corrective wave lower back into the low 200s.
The same predicament exist in the NDX as the SPX. NDX is facing Fib resistance at 10,715 level a triangle pattern that could unfold into wave (2) corrective wave lower. Immediate resistance 10,715 likely to find a wave (5) top for now. NDX is leading the charge on the overall indexes rally, focus on on remaining push into 10715 wave 5 Fib resistance zone and from...
On the minor time frame, the 100% retracement Wave (B) looking for Fib resistance at 3226 for one pending push to new lows before a long-term sustained rally ensues. We may be contained within the highlighted range in wave (C) as the S&P is slowly losing bullish momentum, still keeping our bearish biased butterflies on SPX and RUT.
BYND wave (2) pullback in progress with more push lower towards $107 to then complete wave (2). Looking to set up some shorter term income butterflies before we rally in same degree wave (3). Check Video Update for Trade Execution.
The same predicament exist in the RUT as the SPX. RUT is forming a triangle pattern that could unfold into wave (C) corrective wave lower. The immediate pullback should take us back into 1250 downside target facing significant resistance ahead at 1542. One more push down into 1250 before we close out our bearish biased butterfly spreads.
The S&P is holding up in this sideways consolidation pattern but daily chart shows once the triangle pattern is complete could send the S&P lower into the 2780 downside target of wave (C). We may be contained within the highlighted range in wave (C) and thus we will be keeping our existing bearish biased butterflies for the time decay to work in our favor.
Placed some shorts on BTC for a pullback into $6.5k before a wave (4) rebound offering some good risk & reward for shorts. Stops at 10,550 , if we're right, will ride it all the way lower into 6.5k to cover our shorts
AAPL is currently facing resistance at current levels of Fib resistance. Is this 5-wave impulse currently labeled as wave v actually all of higher degree wave 5? One more push down into 340 suggest the shown count is correct.
NIO is currently making a pullback into 5.60 level before setting up for another move higher into wave (v) targeting the 10 range. Looking to hold on to our longer term Leaps on NIO for a completion of this 5 impulse wave higher into wave D.
Looking to place some shorter term shorts on BTC in wave 2
DXY is forming a potential decline with significant resistance at 97-98 level.We are considering this corrective (A), (B), (C) pattern to be completed into the 98 resistance zone. Looking to place potential bearish trades expiring Aug-Sept.
Working on Medium Time Frame GLD moving towards 175 for a potential breakout. Looking for breakout in GLD once the resistance zone 163–165 is broken.