mukit1

mukit1

So far, S&P 500 is playing out the way it should. Wave 3 of 3 of 3 should be nearly complete. It can top out here or can hit 5400- 5450 before the minute wave 4 correction. End of April and early May should see the minor degree wave 4 correction that could bring a decent 5% to 7% downturn. But, the big one could be in the bottom half of the year. depending on...

mukit1

CLSK is showing bearish divergence in the weekly and daily divergence. All miners are struggling pre halving. CLSK is seeing some wild price swings in the past couple of weeks. At the moment, crypto market as a whole is putting in some kind of topping action and a correction is coming soon. CLSK is putting in a massive triangle, which should be in its last leg....

mukit1

The Move up since October 2023 hasn't necessarily been a very impulsive one for Gold. Each new high has met with severe resistance and momentum has stalled greatly. Compared to bitcoin or SPX, GOLD all time high has been a quiet one. The pattern is shaping up to be a 3 wave diagonal construct. We need some more time to pass before this can be confirmed, but for...

mukit1

Last week I was watching $0.12 area closely. If there was a break of this area, it could have meant a potential disaster for the holders. But just like magic, price bounced sharply from that area and made a new high, confirming a full 5 waves move to the upside. Price can go up more to hit some proper fib extensions to bolster the move, but at this point anything...

mukit1

PLTR is stuck in a range. Distribution patterns are forming. RSI is holding on to a critical level. Good new out there is not making any dent to the price action. The ticker has a history of falling off the cliff after being range bound. EW count is suggesting a full 5 wave sequence is complete. So, basically it is time to hurry up and wait. PLTR has just...

mukit1

BTC and crypto market volatility has increased quite a bit. The negative news cycle is starting to pierce the bubble a little bit. Whenever you see you tube videos, X posts and news articles predicting a million percent in 20 days and anyone trying to point at the froth getting bashed to oblivion, you know it is time for a correction. In my opinion, this bull...

mukit1

Doge coin is getting close to 0.764 fib regression area around $0.0121. Anyone aware of Fibonacci pinball technique, this is a must hold zone for an impulse, specially for a sub wave of a larger impulse. Time to abandon impulse is a break below previous 0.618 area, which is at $0.11. Complete invalidation of impulse at break below previous wave 1, which is at...

mukit1

Sofi does banking differently and has great potential, but it is still a bank and banks are not a great investment right now. I don't see the price getting above the channel anytime soon. But that doesn't mean the stock is untradable. There are a couple of bearish scenarios at the moment. 1.Crash now: In this scenario price is on the intermediate C wave. In that...

mukit1

It's been rough for the miners. As BTC is making all time high, miner stocks are not getting any love. This divergence is ultimately result in market picking a direction after the consolidation is over. Right now, RIOT is range bound, sitting at the middle of a channel. I have both bullish and bearish EW count. Whichever is correct, doesn't really matter, as...

mukit1

The price action between June and October last year as minor wave 1 and 2 bugged me a lot. The move between June 8 and July 14 looks like an obvious 3 waves. I tried to make it fit with 5 waves, but it was a stretch. The current price action is also an obvious impulse move. The leading diagonal idea is not valid any longer since the current price action moved up...

mukit1

ADA has made an unexpected move upward that has confirmed the next bull market. In my last analysis, I was keeping a leading diagonal count as the primary count. That also meant some serious corrections before the move up. However, ADA is making some great strides and the coin price is responding accordingly. If the June to July 2023 price action can be fit in a 5...

mukit1 Updated 

SPX and markets overall are slaughtering bulls for the last couple of weeks. Now bloody Monday is the trending search on google search. If the last low breaks, I am not super convinced that market will go in a free fall. Even though anything is possible, there is a lot of support between 4150 and 4000. So, if we don't see some circuit breaking 5% down moves next...

mukit1 Updated 

If you have taken advantage of the 20% drawdown in Aug-Sep, then a 16% rally this month, then congrats to you. Right now, the final leg of correction is in progress before the next bull run starts. Today we might have seen the sharp a wave of Y. Things might slide a bit more, but a bounce should be incoming. After the bounce we should see the final leg down, when...

mukit1

GRTs constant lower low making days are at least temporarily over. Last year Oct GRT put in a first higher low since 2021 and this month price has created a fresh higher high. Elliott wave perspective, price has made a 5 wave up wave 1 and 3 waves correction wave 2, followed by a very strong 5 waves lower degree wave 1 (might still have some energy left to it). We...

mukit1

PLTR has exploded in February. It is also looking like finishing up the five wave sequence with an ending expanding diagonal pattern. There could be one more spike up before the sequence is over and we see a rather healthy retrace. the first leg of the retrace could be as explosive as the way up, followed by a bounce and another leg of drawn out accumulation...

mukit1

RIOT has made a V recovery once again, making the bear case almost obsolete. The primary and secondary trendline resistance has been successfully broken and right on the third trendline resistance at the moment. Let's look at bull and bear case and see when to enter the rocket to the moon. Bull case: If this is the beginnings of intermediate wave 3, then the...

mukit1

TSLA bleeding has stopped for now. Recovery has been a bit choppy but a five wave move can be worked out. Next week, I would expect another move up and then a correction. Regardless, if price is destined for much lower numbers or not, we should expect another leg up to $200-$250 to complete a 3 way move before crashing lower. If it is the beginning of an uptrend,...

mukit1

Paypal CEO's shocking the world prediction is a meme at this point. it looks like the company cannot do anything right. From the price chart perspective, the story is playing out as it should. As the rest of the market enjoyed a nice rally to local highs and for some significant all time highs, PYPL has put in a leading diagonal structure. As many diagonal...