FibonacciWaveTrader

FibonacciWaveTrader

SPX appears to be losing momentum. Divergence with MACD and RSI is relatively flat. Came off the high and might be completing an abc off that local low. Should it hit a clean fib in the red box, it would be a good place to consider a short with a stop at the previous high. Pegging the exact point of reversal on a large trend like this is difficult, but it...

FibonacciWaveTrader Updated 

NYSE:X Appear to be in a 4th wave. Approaching a long term buy.

FibonacciWaveTrader Updated 

Metals seem to be pushing higher without giving us that one more low. No point in arguing with thre market. If it continues, this is the AMEX:GDX path I see.

FibonacciWaveTrader Updated 

NYSE:MMM MMM needs a micro abc retrace to the .618 -.786 retrace into the 167.75 region. Several support lines converge in that range to assist the fibonnaci retracement level. If target zone is reached, going long for target between the 1.382 to 1.618 projection area around 189. Stop below the previous low around 162.12. Reasonable 3.5 risk reward with an...

FibonacciWaveTrader

OTC:GBTC Double bull flags shown on the daily. Matches up with Elliott Wave charting.

FibonacciWaveTrader Updated 

AMEX:GDX GDX appears to be completing a corrective micro degree triangle. If correct, this would suggest it is soon ready to make its final drop into the target zone. This is a risky play as we are nearing a longer-term bottom, and trying to play down should be treated as a risky move with tight stops in place.

FibonacciWaveTrader Updated 

AMEX:GDX GDX is nearing a larger degree wave 4 at the 0.5 retrace of the last move up. This zone also lines up beautifully with multiple levels of strong support. Should it fall a bit further, it will be primed for a large move to the upside. If/when that happens, will be playing NUGT or possibly switching over to GDXJ and JNUG. Due to the lack of a good...