yes it's one we discussed

Could it be this simple?

Posted by matt on 25th of Sep 2020 at 11:39 am

yes it's one we discussed maybe but nothing confirmed. Otherwise here's my version, a proper wedge is not drawn from the highs because your a is on the down wave. wedge patterns are 5 wave abcde.  

could yesterday have marked e of the wedge?  perhaps, or could you still see another move down to complete e?   Otherwise more bullish if e does not test the lower portion of the wedge trendline but inside forms a higher low within the wedge

see attached image showing a couple possibilities

NVDA Updated View

Posted by steve on 25th of Sep 2020 at 11:35 am

SLP Updated View

Posted by steve on 25th of Sep 2020 at 10:26 am

SLP - Chart Link - protect if trading 

IWM relative strength thus far

Posted by steve on 25th of Sep 2020 at 10:24 am

IWM relative strength thus far today -  very fluid market so respect your triggers 

Nice view Matt

TSLA scenarios

Posted by steve on 25th of Sep 2020 at 10:08 am

Nice view Matt

Thanks

SLV has two gaps just below. I'm wondering if it ...

Posted by steve on 25th of Sep 2020 at 10:08 am

Thanks

TSLA scenarios

Posted by matt on 25th of Sep 2020 at 09:49 am

TSLA - Chart Link here's a chart showing those two scenarios I discussed on TSLA, one spending a longer time consolidating by forming a coil which would have the low in place but would need another month forming the d and e waves, currently can only count a,b,c waves.

the second shows a conventional abc zig zag where c would take out the low of a and you would get a deeper price collection that would probably end sooner than the abcde triangle but new lows would occur

ES Globex Range 3206.50-3258.75

Posted by steve on 25th of Sep 2020 at 08:33 am

ES Globex Range 3206.50-3258.75

USA Core Durable Goods Orders

Posted by steve on 25th of Sep 2020 at 08:31 am

USA Core Durable Goods Orders (MoM) for Aug 0.400% vs 1.200% consensus estimate. The prior reading was 2.600%.

Thursday Newsletter

Posted by steve on 24th of Sep 2020 at 07:26 pm

ATEC nice move

Posted by matt on 24th of Sep 2020 at 03:56 pm

ATEC - Chart Link- as I mentioned other day was probably one of my favorite patterns

SPX 60 min

Posted by matt on 24th of Sep 2020 at 03:52 pm

$SPX - Chart Link- here's yet another option, ending diagonal would potentially have one more move lower in the wedge to complete it, i.e. abcde instead of just abc

price bounced off that low, had a Tick Extreme support there, so was a logical place for price to bounce from

ATEC nice move 

ATEC Updated View

Posted by steve on 24th of Sep 2020 at 03:44 pm

ATEC nice move 

probably what you are observing

too early to say.  I mean the bullish case is that we put in a wave c low but it's not confirmed that c is done either.  otherwise on the main trend, nothing has changed yet, there's no symmetry breaks on the 60 min charts, this bounce has not exceeded the previous rallies and you still have lower highs in place. Basically nothing has confirmed so could go either way price could have made a good low today, or it could still come down again with wave c  on going.

Update: Update: Update: SPX 5 min

SPX 5 min

Posted by matt on 24th of Sep 2020 at 02:29 pm

$SPX - Chart Link updated 5 min view, I added symmetry, the largest intra day pullback was 33 points this morning, the current pullback off the highs has not matched or exceeded that

ATEC Updated View

Posted by steve on 24th of Sep 2020 at 02:10 pm

SPX 5

Posted by steve on 24th of Sep 2020 at 01:03 pm

$SPX - Chart Link - retest of today's highs

Around that primary pivot we

SPX 5 min

Posted by matt on 24th of Sep 2020 at 12:38 pm

Around that primary pivot we also had a TICK spike above 1000 that corresponded with that intra day high

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