Well since the target we've been talking about has been reached, today had a gap and reverse day. Important to not let this slip by us. Earlier today I mentioned in the whiteknightmoving trading room that we could be seeing the begining of a rally here. Lets see. Next week should bring back some volatility as we expect a choppy whipsaw market as the newer highs...
Here are the possible wave counts, corrections, and target prices for the next 2 weeks. Notice the 3rd of a 3rd wave gap. This is huge and I don't expect it to filled like yesterdays gap... yet. I think we now have a long sideways correction that will be very choppy and corrective. Yet these provide great opportunities to trade. The safer and longer term view...
Remember when the market was hitting the lows and traders were afraid? (VXXB was high) We wondered "Could this really be" as a Bat Pattern potential. We identified the the possible VXXB Bat pattern at that time. Then as the little parabolic curve was forming, we patiently waited for the VXXB to snap . and... Very nice! Then the "looks Heavy" comment just before...
Long term view. Both outlooks require a fast pullback soon to the 2600-2625 zone. Possible crab pattern (long term bullish outlook) is possible due to 88.6% retracement of the 2018 sell off. However, the Purple Bat pattern indicates a bear market pullback to the 1937 zone. So the easy play is for a sell off first. We'll look for a decision maker around the white...
April Fools Day may be the high turn point for the Market. Don't let the market fool ya! We should see another high (black 3) and then a quick pullback as shown down for wave 4. The Harmonic Patterns complete in the sell zone and indicate a quick retracement soon after. We'll keep our eyes on this potential and if it plays out for us, we'll be ready to buy lower...
for you e mini traders... closer view of the futures Getting close to sell target! Watch the parabolic line... support until it breaks and then lookout!
Looks like our parabolic pattern idea is playing out nicely. Other patterns such as the elliott wave ending diagonal and the harmonic Cypher Pattern all converge on the sell zone. Notice the baby bat pattern (blue) :) Let's see if we can hit the sell targets on April Fools day! I'm bullish,... but ready to sell at the target area. Then Once the market breaks the...
ES are showing the thoughts of a parabolic move up. The market looks to be making an Ending Diagonal pattern (dashed pink) as we complete the big Blue Gartley we've been talking about for a few weeks now. The baby crab may help us with the finishing touches with an expectation for a quick move to higher prices. All seem to like the 2850 zone. I am bullish with...
Looks good to complete the Bat Pattern mentioned weeks ago. We should see this drop to the buy zone as the market continues the upward move!
Here is the bigger view traders have asked for... we'll see, please remember this chart is not adjusted for time. Simply looking for turning points in the waves. final target is around 2850... hope it helps my fiends Old fart
Updated chart... lets see what tomorrow brings at the open. Please note that if we get the 5 waves up (in Purple) that should have a red/yellow label 3. Please forgive me, I goofed and should've labeled it. This means the expectation for an even larger 5 wave pattern near 2850 when all completed in the next few days. But until then, 1 step at a time and lets the...
Here is the close up view mentioned in the previous bigger view. Looks like we are only days away from the sell at the 151.90 zone. Then we can look for a quick retrace back down to the 142.50 zone to buy again
Interesting how nicely the Harmonic Patterns have been working for 30 year Bonds. The Huge Gartley (purple) was perfect. Will we see the next Cypher Pattern (blue) work for us? It completes point D at 151.90 zone, and should provide us with a nice sell zone. Then we need to look out for a possible Butterfly Pattern (green) for a fast correction back down to the...
Interesting break of support today. We've been waiting for this move for months. Ever since the parabolic upward curve was snapped, as shown in pink, we've had a sideways move, until today! This is a great time to short CRON as we want to get back down to the buy line around the point D of the Bat Pattern. This would be a great time to load up again as we did last...
Wow! Really? Hmmm... let's see if the Gartley Pattern proves correct. Lots of pieces here and beautiful channels show the perfect buy point and the ratios say buy now! The first interesting pivot may be the "baby" Gartley" Pattern shown in red. At that D point we typically look for a 38-62% pullback, and then another strong continuation to the upside! It's just a...
Today was a nice pullback within the Cypher pattern we've been talking about. In fact today made a nice bat pattern (not shown) down to the lows of the day. It's unfortunate that I can't post charts here below the 15 min time frame, as the action on the 1-5 min charts was very fast and fun on the way down. The lows are important to watch as shown. We should not...
Wow! The snap of the parabolic curve (pink line) says more downside in VXXB. Maybe the Pesky Gap! zone, thus completing the Harmonic Bat Pattern (blue). So what does this mean? If VXXB goes to the buy zone, then the SPY will try for new highs again. This is a bullish set up for the short term. We should see a rebound and a nice little rally this week if VXXB...