DJI in wave 2 ("Minuette"). Minimal retracement of waves 2 is 0.382 (20633 area). Waves 2 often stop at level 4 of the preceeding impuls wave ("Subminuette"). Monday/Tuesday, there could be a nice opp. to go long... Wolf
AMD could be in a 5 of a "Micro" -wave. Volume needs to go with the trend!
Probably time to digest, with the big players on the sidelines?
Nice move! INTC might be in a "Micro"-wave 2 at the moment. Probably, this corretion will even stop at $ 35,72, because "Micro"-wave 2 has an interesting correction-pattern on a minute-scale... Wolf
All signs are bullish, but depending on overall market situation.. Wolf
INTC seems to be in a "Micro" wave 2 correction with "Micro" wave 1, probably a "Leading Diagonal" pattern.
"Subminuette" wave 4 finished above horizontal magenta line. We should be in a 5 now! Wolf
Same procedure as with SPX 0.86% (horizontal magenta line). See in my SPX 0.86% posting! The broader market seems to be stronger!
Finally, we've got our Minor 4. Anyway, if you look at the chart, it also could be a "Minute" abc corrective pattern (c=Impulse wave), instead of an "Minute" wxy (Y=corrective wave). Next step could be, the approach to the horizontal magenta resistance line. If it happens, this could be a further confirmation for "Minor" 4 and the correction of the past weeks is...
DJI at the bottom of its trading channel. See my other post for SPX
The DJI made a new shorttime low on Friday,due to the political disappointment with buyers on the sidelines, but NASDAQ, DAX 0.20% , UKX etc. are all in their all time highs - The SPX -0.08% instead, retested the low, made two days before. For the SPX -0.08% it seems to be an important level! (See horizontal magenta line). On a 15min scale, it did not break this...
Disappointment during the last session on Friday made it nescessary, to readjust my counting and the magenta trendline for AMD. As shown, there are still two (blue) shortterm resistence lines, which have to be broken to the upside. There is enough leeway to finish the Impulse wave, we are in. Wolf
Instead of the huge disappointment on Friday's session , INTC tried to break the blue dotted resistance line on Friday (marked as Subminuette b=?). If so, there could be an impulse wave to finish the pattern (as Minuette 2) and a retest of the magenta trendline during the next days.
INTC: As soon the blue resistance lines are broken to the upside, it could be a nice opportunity to go long.