Apr 16, 2018

Update

With the higher high today we have 5 waves for the second leg up and it looks like a-b-c with c as ED. The pattern looks now bearish.
The bullish view is much bigger LD or trying to count 1-2 i-ii.... at the moment this is a bet on lower probabilities.

20 comments:

  1. Looks like market always loves the lower probability moves recently ;)

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    1. QQQ is so strong ... Any update about this update? Thanks.

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    2. Nothing changed - two moves higher with the same size which is usually a-b-c..... best case it is 1-2-3, but it has to move much longer and higher to finish an impulse.

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    3. QQQ is not different - either a-b-c or 1-2-3. So far the two waves higher have the same size and the second one is very choppy and weak. You can only wait and see which one will play out.

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  2. Nasdaq up almost 100 points boys. This is wave 3

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    1. How do you make difference between wave 3 and C?

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    2. I do not know. But i just go with strength or weakness for the day

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    3. This is short term trading. Of course in this case it is up:) no reversal signs no shorting.
      I am trying to look two weeks or longer ahead.

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  3. For now I think this is a lower high. The high today is 11 trading days of rally , the same as Feb 9-27 . If that's the case , we should see one big down day this week and a low next week.....as Krasi says , we'll know for sure soon enough.

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  4. We are up 120 on nasdaq on a day we should head lower. We are heading a lot higher my friends

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    1. I will believe it when I see at least one day closing at the high for the day.
      Look at financial - very unlikely the market moving much higher.

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  5. The question is whether the above picture pattern still holds..., SPX has been up to 2710 and EMA50. It looks like a long impulsive wave ahead to go If so what's the potential bullish target and path? Thanks.

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    1. The bullish path is this is wave 3 and w will see one pullback and one more higher high.

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  6. Now, it appears very bullish finally, hopefully it can pullback tomorrow? Is it possible for deeper pullback?

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    1. If it is really bullish it should continue higher.
      I think something else is running.... probably triangle and this is the middle of wave D.
      In this case sideway move for a few days and 50% retracement.

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    2. I know you usually don't use volume as an indicator, but I would like to point out that it was about half the average. Once again a bit of weakness heading into the close too.

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    3. I know steadily declining since this move up begun. It just does not feel right this "rally". I do not expect reversal and plunge, but I am not very bullish either.
      My favorite pattern now is triangle for wave IV and currently wave D running.

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    4. Where's the triangle starting? Thanks. Highly appreciate if you can provide one picture.

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  7. What is your take on spxs at this level I'm expecting a mild pulled back possibly 70 points your thoughts

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    1. The same, I have posted a new chart something like 50% retracement.

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