Posted by DigiNomad on 29th of Jun 2022 at 01:54 pm
I hope you're right but that's a best case scenario for the Fed.
I think they will likely keep pushing until you're wrong. AAPL at
23 PE is not where this market stalls / ends the correction. It
will be 15 or lower by the time it's over...IMO. TSLA needs
to fall below 500...where it will still have a ridiculous PE.
Idiots put TSLA in the index and now the broad market gets to pay
the price.
Posted by mirhamedali on 29th of Jun 2022 at 04:12 pm
I agree with Matt / Steve that we may have a multi-week or
multi-month bear rally ahead of us. I think this plays out as
one massive A-B-C and I suspect this bear rally will be very choppy
and be full of smaller A-B-C moves as opposed to anything
impulsive. If this bounce is to be corrective, followed by
another impulse down, then we do have to expect lots of overlapping
waves here. I think its going to be a choppy ride until September.
Reducing order sizes might be a good idea to avoid getting
chopped up too badly.
NQ 1 min inverse h&s...could
Posted by kobie on 29th of Jun 2022 at 12:46 pm
NQ 1 min inverse h&s...could trigger larger breakout of triangle
Looking good...
Posted by kobie on 29th of Jun 2022 at 12:50 pm
Looking good...
Doesn't QQQ look like a
Posted by mirhamedali on 29th of Jun 2022 at 01:23 pm
Doesn't QQQ look like a bear flag that may want to collapse further and fill the gap below?
I see 3 waves down
Posted by steve on 29th of Jun 2022 at 01:31 pm
I see 3 waves down off the top on QQQ (not 5 as yet) just my opinion - so one option would be a 4th wave triangle (instead of a wave B)
This market is very trappy so be weary of false breaks.
QQQ triangle played out as
Posted by steve on 30th of Jun 2022 at 09:15 am
QQQ triangle played out as discussed
Yes!
Posted by kobie on 30th of Jun 2022 at 09:26 am
Yes!
That is also possible. That
Posted by mirhamedali on 29th of Jun 2022 at 01:42 pm
That is also possible. That would be a more bearish slant :-)
Either way, pressure seems down unless this triangle can resolve upwards.
Steve - depends on the
Posted by kobie on 29th of Jun 2022 at 01:35 pm
Steve - depends on the direction of the triangle...if it breakes down it could well be a wave 4...
yes - I simply said
Posted by steve on 29th of Jun 2022 at 01:36 pm
yes - I simply said that's one option - could resolve up as well out of the coil
Triangle
Posted by kobie on 29th of Jun 2022 at 01:39 pm
Triangle
I think we see a
Posted by mirhamedali on 29th of Jun 2022 at 01:45 pm
I think we see a series of A-B-C moves for the rest of the summer. Lots of chop.
I hope you're right but
Posted by DigiNomad on 29th of Jun 2022 at 01:54 pm
I hope you're right but that's a best case scenario for the Fed. I think they will likely keep pushing until you're wrong. AAPL at 23 PE is not where this market stalls / ends the correction. It will be 15 or lower by the time it's over...IMO. TSLA needs to fall below 500...where it will still have a ridiculous PE. Idiots put TSLA in the index and now the broad market gets to pay the price.
I agree with Matt /
Posted by mirhamedali on 29th of Jun 2022 at 04:12 pm
I agree with Matt / Steve that we may have a multi-week or multi-month bear rally ahead of us. I think this plays out as one massive A-B-C and I suspect this bear rally will be very choppy and be full of smaller A-B-C moves as opposed to anything impulsive. If this bounce is to be corrective, followed by another impulse down, then we do have to expect lots of overlapping waves here. I think its going to be a choppy ride until September.
Reducing order sizes might be a good idea to avoid getting chopped up too badly.
DigiNomad- this is only a
Posted by kobie on 29th of Jun 2022 at 01:56 pm
DigiNomad- this is only a 5min chart......ie short term
Finally. Yes!!! Hope we get
Posted by kobie on 29th of Jun 2022 at 02:07 pm
Finally. Yes!!! Hope we get follow through.
Sorry, I was commenting on
Posted by DigiNomad on 29th of Jun 2022 at 01:58 pm
Sorry, I was commenting on this from mrhamedali "I think we see a series of A-B-C moves for the rest of the summer. Lots of chop."