Thanks for the great chart. I agree, a likely scenario. Some
support in the pre-market session currently around 3,329 which
aligns with Steve's comment in the newsletter as a place to pay
attention as well as the gap below low 3,300s. Let's see
Posted by chartboy on 28th of Oct 2020 at 08:20 am
Your welcome. As an FYI, I never post anything like that unless
there are multitude of other supporting factors. It is just too
much to try to post it all. For example, this is also the .618
extension of presumed Wave A off the last high and where Wave C
would equal A. That is why you are seeing all that buying in this
range.
I like using the fibs too. Will be interesting what big tech
earnings look like tomorrow after the close. AAPL, GOOGL, FB, and
AMZN. And to see if we get any talk of stimulus in the next days
before the election. They either do it now or later, but something
gets done before year end hopefully.
Another likely scenario is the
Posted by chartboy on 28th of Oct 2020 at 07:15 am
Another likely scenario is the old gap fill and then a bounce off the lower trend line back up into a triangle.
Thanks for the great chart.
Posted by fundamentalvalues on 28th of Oct 2020 at 08:07 am
Thanks for the great chart. I agree, a likely scenario. Some support in the pre-market session currently around 3,329 which aligns with Steve's comment in the newsletter as a place to pay attention as well as the gap below low 3,300s. Let's see
Your welcome. As an FYI,
Posted by chartboy on 28th of Oct 2020 at 08:20 am
Your welcome. As an FYI, I never post anything like that unless there are multitude of other supporting factors. It is just too much to try to post it all. For example, this is also the .618 extension of presumed Wave A off the last high and where Wave C would equal A. That is why you are seeing all that buying in this range.
I like using the fibs
Posted by fundamentalvalues on 28th of Oct 2020 at 08:45 am
I like using the fibs too. Will be interesting what big tech earnings look like tomorrow after the close. AAPL, GOOGL, FB, and AMZN. And to see if we get any talk of stimulus in the next days before the election. They either do it now or later, but something gets done before year end hopefully.
Senate is in recess til
Posted by johnny2012 on 28th of Oct 2020 at 08:52 am
Senate is in recess til Nov 9th so definitely no stimulus til after the election.
They have done their damage
Posted by jroger on 28th of Oct 2020 at 09:01 am
They have done their damage now they will rush home to try to save their jobs.