The best objective EW view is a flat correction. I am still
entertaining a view of the leading diagonal.
I see a slow grind into the end of march because everyone is so
bearish. Very unlikely, we could dump after the FOMC next week. I
am ready for either one.
Does the /ES version of the subsystem still continue to hold?
This looks like a bottoming process with a move higher into the end
of the month is to follow.
rbreese, Anything goes but likely not to exceed the February
highs. The move into Monday lows was 3 waves, thus corrective. My
indicators are showing wave 5 on 4-hour charts on /ES is in
progress. After that a move to the upside should follow, which will
be a larger bounce on the daily charts.
The pattern of 3 waves up into Feb highs, then 3 waves down into
Monday lows could be a leading diagonal to the upside unfolding. I
am focusing on last Monday's highs for a target to the upside.
I see a completed sequence of 5 waves on 1-hour charts this
morning. Likely a wave down is completed of some sort, and
currently in a retrace to the upside. It could be a zigzag pattern
unfolding, as /NQ has not completed its top on the daily chart.
There is high-lot selling on /GC at the moment near resistance
1917. It could be merely profit taking without affecting the
trend which is up into the February highs.
rbreese, last year I realized that no approach I knew of, worked
reliably. That is, so SIMPLE approach worked. There is no
substitute for viewing the market completely without any blind
spots in place. Any thinking or heuristic is a blind spot unless it
can be confirmed in real time.
There was no climax selling on Friday. Everyone was led to
expect 4300 on SPX in March. The indicators that work are
volume based price ranges and exhaustion sell or buy. Plus good EW
analysis giving the full picture, which is a rarity.
EW analysis for SPX:
https://www.youtube.com/watch?v=iTK94Z6hk80. Also, note that
symmetry was broken to the downside since the October low as
detailed at
https://www.youtube.com/watch?v=DQ1Ad5u23mo. Because of
the trendline support on many stocks, a bounce seems to be coming
instead of a straightforward plunge to 3650 levels. However, a
bounce is likely to last only for a day into 3927 on /ESH23
because the stacked EMAs and high value of ADX. See a
screenshot. This looks to me like a beginning on a trending move of
wave 3 from February highs.
HYG and GLD are portraiting big flight to safety. We might have
gotten a catalyst for the move lower this week.
an update: it looks like 5 waves down from Monday's high could
be in place setting the stage for a large bounce. Exceeding today's
high will invalidate a further drop immediately.
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Seeing 1890 again shortly on
Bloody Red OPEX with Banks/Financials Continuing to be Pressured
Posted by junkie on 17th of Mar 2023 at 02:21 pm
Seeing 1890 again shortly on gold futures will be a gift from heavens!
With /GC up $55 today,
Posted by junkie on 17th of Mar 2023 at 02:15 pm
With /GC up $55 today, I would watch out below 3820 next week!
What is your width of
VIX breaking down. Afternoon rally? (I had this typed up ...
Posted by junkie on 17th of Mar 2023 at 02:10 pm
What is your width of the narrow edge of the IC? I got seriously burned on IC's last year with wild intraday moves.
Wave c down should occur
Matt, looks like we've completed a down and are now ...
Posted by junkie on 17th of Mar 2023 at 01:50 pm
Wave c down should occur on Monday, IMHO. Waves A and C ought to contain 5 waves.
rbreese, the scenario is looking
Posted by junkie on 17th of Mar 2023 at 12:03 pm
rbreese, the scenario is looking more bearish than bullish at the moment. I will update over the weekend.
We need to take yesterday's high to exclude 1-2 and 1-2 to the downside.
If something is warning about
QQQ golden crossThat QQQ cross I pointed out last week ...
Posted by junkie on 17th of Mar 2023 at 10:49 am
If something is warning about a dump, it is /GC. If the double top at 1966 breaks to the upside, all bets are off on the market.
The best objective EW view
QQQ golden crossThat QQQ cross I pointed out last week ...
Posted by junkie on 17th of Mar 2023 at 10:41 am
The best objective EW view is a flat correction. I am still entertaining a view of the leading diagonal.
I see a slow grind into the end of march because everyone is so bearish. Very unlikely, we could dump after the FOMC next week. I am ready for either one.
No simple technique like the
QQQ golden crossThat QQQ cross I pointed out last week ...
Posted by junkie on 17th of Mar 2023 at 10:31 am
No simple technique like the gold cross has worked since 2021 in a carefully and deliberately manipulated market.
Matt, didn't the BPT_MA indicator
Systems update
Posted by junkie on 15th of Mar 2023 at 06:37 pm
Matt, didn't the BPT_MA indicator go green on /ES indicating to hold the position longer?
Does the /ES version of
the other SPY bear long closed out
Posted by junkie on 15th of Mar 2023 at 04:20 pm
Does the /ES version of the subsystem still continue to hold? This looks like a bottoming process with a move higher into the end of the month is to follow.
rbreese, Anything goes but likely
Katy Stock on CNBC said since 3900 taken out only ...
Posted by junkie on 15th of Mar 2023 at 10:02 am
rbreese, Anything goes but likely not to exceed the February highs. The move into Monday lows was 3 waves, thus corrective. My indicators are showing wave 5 on 4-hour charts on /ES is in progress. After that a move to the upside should follow, which will be a larger bounce on the daily charts.
The pattern of 3 waves up into Feb highs, then 3 waves down into Monday lows could be a leading diagonal to the upside unfolding. I am focusing on last Monday's highs for a target to the upside.
3650 is a major target
Katy Stock on CNBC said since 3900 taken out only ...
Posted by junkie on 15th of Mar 2023 at 09:45 am
3650 is a major target to the downside. After a correction to the upside, IMO.
I see a completed sequence
Posted by junkie on 13th of Mar 2023 at 12:29 pm
I see a completed sequence of 5 waves on 1-hour charts this morning. Likely a wave down is completed of some sort, and currently in a retrace to the upside. It could be a zigzag pattern unfolding, as /NQ has not completed its top on the daily chart.
There is high-lot selling on /GC at the moment near resistance 1917. It could be merely profit taking without affecting the trend which is up into the February highs.
rbreese, last year I realized
Junkie you certainly were right about further decline in the ...
Posted by junkie on 13th of Mar 2023 at 09:15 am
rbreese, last year I realized that no approach I knew of, worked reliably. That is, so SIMPLE approach worked. There is no substitute for viewing the market completely without any blind spots in place. Any thinking or heuristic is a blind spot unless it can be confirmed in real time.
There was no climax selling on Friday. Everyone was led to expect 4300 on SPX in March. The indicators that work are volume based price ranges and exhaustion sell or buy. Plus good EW analysis giving the full picture, which is a rarity.
EW analysis for SPX: https://www.youtube.com/watch?v=iTK94Z6hk80.
Posted by junkie on 11th of Mar 2023 at 11:07 pm
EW analysis for SPX: https://www.youtube.com/watch?v=iTK94Z6hk80. Also, note that symmetry was broken to the downside since the October low as detailed at https://www.youtube.com/watch?v=DQ1Ad5u23mo. Because of the trendline support on many stocks, a bounce seems to be coming instead of a straightforward plunge to 3650 levels. However, a bounce is likely to last only for a day into 3927 on /ESH23 because the stacked EMAs and high value of ADX. See a screenshot. This looks to me like a beginning on a trending move of wave 3 from February highs.
HYG and GLD are portraiting big flight to safety. We might have gotten a catalyst for the move lower this week.
Let us ask @cassandra (Michael
https://www.breitbart.com/economy/2023/03/10/cnbcs-jim-cramer-urged-viewers-buy-shares-silicon-valley-bank-last-month/ " Lehman Bro. will be fine!" - Cramer ...
Posted by junkie on 11th of Mar 2023 at 10:12 pm
Let us ask @cassandra (Michael Burry). He will make us millionaires in a week!
wave 1 should start at
Symmetry target on the 15 would be about 3902 (speaking ...
Posted by junkie on 10th of Mar 2023 at 05:16 pm
wave 1 should start at 4078. The double bottom today is a concern for that count. Based on 1.68 length of wave 1, wave 3 should be ending at 3832.
Wells Fargo should be the
Hope not, but some got these messages
Posted by junkie on 10th of Mar 2023 at 04:34 pm
Wells Fargo should be the next bank to be declared insolvent among the big 10. That event will shake up the financial system to its core.
Your systems might be targeting
Man still no reversion to mean systems triggering
Posted by junkie on 10th of Mar 2023 at 04:03 pm
Your systems might be targeting a wave 5 low of a higher degree (4-hour charts).
an update: it looks like
Symmetry target on the 15 would be about 3902 (speaking ...
Posted by junkie on 10th of Mar 2023 at 04:01 pm
an update: it looks like 5 waves down from Monday's high could be in place setting the stage for a large bounce. Exceeding today's high will invalidate a further drop immediately.