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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.
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.
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.
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.
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.
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.
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.
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.
Hello Traders! I have started the Blog with the idea to concentrate on technical analysis and signals. Any questions, ideas, opinions, and comments are welcome.
Здравейте трейдъри! Стартирах блога с цел да се концентрираме върху техническия анализ. Всякакви въпроси, идеи, мнения, коментари са добре дошли.
Looks like market always loves the lower probability moves recently ;)
ReplyDeleteQQQ is so strong ... Any update about this update? Thanks.
DeleteNothing 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.
DeleteQQQ 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.
DeleteNasdaq up almost 100 points boys. This is wave 3
ReplyDeleteHow do you make difference between wave 3 and C?
DeleteI do not know. But i just go with strength or weakness for the day
DeleteThis is short term trading. Of course in this case it is up:) no reversal signs no shorting.
DeleteI am trying to look two weeks or longer ahead.
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.
ReplyDeleteWe are up 120 on nasdaq on a day we should head lower. We are heading a lot higher my friends
ReplyDeleteI will believe it when I see at least one day closing at the high for the day.
DeleteLook at financial - very unlikely the market moving much higher.
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.
ReplyDeleteThe bullish path is this is wave 3 and w will see one pullback and one more higher high.
DeleteNow, it appears very bullish finally, hopefully it can pullback tomorrow? Is it possible for deeper pullback?
ReplyDeleteIf it is really bullish it should continue higher.
DeleteI 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.
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.
DeleteI 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.
DeleteMy favorite pattern now is triangle for wave IV and currently wave D running.
Where's the triangle starting? Thanks. Highly appreciate if you can provide one picture.
DeleteWhat is your take on spxs at this level I'm expecting a mild pulled back possibly 70 points your thoughts
ReplyDeleteThe same, I have posted a new chart something like 50% retracement.
Delete