Wasn't making any accusations. I watch probably 50% of the
videos each week and often try to match up my charts to yours, but
can't (limitations witth moving average types offered on charting
platform, etc). I don't remember seeing this trendline as a
potential target but I've been sharing it with worried clients for
about a week now. We'll see if it holds. Do you see a potential ABC
pattern in that pullback?
regarding your question ABC pullback, you mean from the highs?
Yes that's the pattern we started discussing weeks ago and in
pretty much every newsletter since, and a couple weeks ago we
favored that first rally off the lows as wave B, which is what
transpired and another push lower as wave C - basically the wave
count you see on the SPX chart, we didn't label the QQQ but it's
gonna be similar.
the super bearish view would have that wave 1, 2, then 3 down,
but we favor the ABC - is it done? maybe, or it may still need some
wiggles, such as a more complex correction, see the chart from the
newsletter last night on SPX. The 200 day MA's on many of the large
stocks and QQQ got pretty close but did not tag it, so could that
still be a magnet in the short term? possibly
long term my concern is the quarterly and monthly charts need to
be worked off over time with a longer consolidation - but in the
short term those don't concern me for trading purposes - we either
have a trade low in place now, or still need to test 200 day MA on
QQQ.
IWM holding up better than the other indexes, I think it will
likely stay within its daily coil pattern even if the other indexes
have another pullback
earning season starts soon, the majority of the time the market
holds up or rallies during earnings season - so will that be the
case yet again? one thing that is going to be interesting is how
companies guide this time - how many have been negatively impacted
by supply chain issues, workers etc
Thanks for the detail! I didn't have a chance to watch the
newsletter last night. Will catch up today. My brochure on the
Broker Check website says I'm a "portfolio manager." When I was
forming my RIA the regulator pushed me for details about my fee
structure for "financial planning." I was so burnt out with the
process thatI ended up saying that I would only engage in portfolio
management (fee only basis). Kind of a strange way for a CFP to
register, but portfolio management is what I enjoy the most...and
standing up a 1 man RIA is a bit of a compliance nightmare.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Wasn't making any accusations. I
QQQ bounced right on the trendline I've been following. Doesn't ...
Posted by jtsurfah on 5th of Oct 2021 at 11:46 am
Wasn't making any accusations. I watch probably 50% of the videos each week and often try to match up my charts to yours, but can't (limitations witth moving average types offered on charting platform, etc). I don't remember seeing this trendline as a potential target but I've been sharing it with worried clients for about a week now. We'll see if it holds. Do you see a potential ABC pattern in that pullback?
sounds like maybe your a
Posted by matt on 5th of Oct 2021 at 11:59 am
sounds like maybe your a Financial Advisor?
regarding your question ABC pullback, you mean from the highs? Yes that's the pattern we started discussing weeks ago and in pretty much every newsletter since, and a couple weeks ago we favored that first rally off the lows as wave B, which is what transpired and another push lower as wave C - basically the wave count you see on the SPX chart, we didn't label the QQQ but it's gonna be similar.
the super bearish view would have that wave 1, 2, then 3 down, but we favor the ABC - is it done? maybe, or it may still need some wiggles, such as a more complex correction, see the chart from the newsletter last night on SPX. The 200 day MA's on many of the large stocks and QQQ got pretty close but did not tag it, so could that still be a magnet in the short term? possibly
long term my concern is the quarterly and monthly charts need to be worked off over time with a longer consolidation - but in the short term those don't concern me for trading purposes - we either have a trade low in place now, or still need to test 200 day MA on QQQ.
IWM holding up better than the other indexes, I think it will likely stay within its daily coil pattern even if the other indexes have another pullback
earning season starts soon, the majority of the time the market holds up or rallies during earnings season - so will that be the case yet again? one thing that is going to be interesting is how companies guide this time - how many have been negatively impacted by supply chain issues, workers etc
again I discussed all this last night
Thanks for the detail! I
Posted by jtsurfah on 5th of Oct 2021 at 01:12 pm
Thanks for the detail! I didn't have a chance to watch the newsletter last night. Will catch up today. My brochure on the Broker Check website says I'm a "portfolio manager." When I was forming my RIA the regulator pushed me for details about my fee structure for "financial planning." I was so burnt out with the process thatI ended up saying that I would only engage in portfolio management (fee only basis). Kind of a strange way for a CFP to register, but portfolio management is what I enjoy the most...and standing up a 1 man RIA is a bit of a compliance nightmare.