Posted by DigiNomad on 11th of Jan 2024 at 11:31 am
SPX symmetry break - the last two resulted in rallies that blew
right past lower highs. (the last two on the down side - the
upside symmetry breaks have been delivering)
I strongly was favoring a lower highs on the QQQ's , and the
symmetry break on SPX is playing out at the moment- basically
resulted in a double top
also, regarding symmetry, you have to understand what it is and
consider some Elliot Wave. If too early in an uptrend if you get a
couple pullbacks, with the 2nd one larger than the first, it might
only be a wave 2 pullback, you are too early in the trend and price
is going to go to another high. For true end of uptrend symmetry
breaks that symmetry break needs to occur after a wave 5 of some
sort.
other symmetry breaks on the upside you see are 4th wave
pullbacks where that pullback might be larger than the wave 2, many
times you get a lower high wave b, but then once c move down is
complete you get another move up for wave 5.
the point is, be careful with symmetry too early on an uptrend
or downtrend, because it might just be an early wave like a wave
2
again symmetry is a guide and a tool that one should use other
information to confirm or filter out
otherwise the recent symmetry breaks are playing out on SPX and
QQQ
SPX symmetry break - the
Posted by DigiNomad on 11th of Jan 2024 at 11:31 am
SPX symmetry break - the last two resulted in rallies that blew right past lower highs. (the last two on the down side - the upside symmetry breaks have been delivering)
I strongly was favoring a
Posted by matt on 11th of Jan 2024 at 11:37 am
I strongly was favoring a lower highs on the QQQ's , and the symmetry break on SPX is playing out at the moment- basically resulted in a double top
also, regarding symmetry, you have to understand what it is and consider some Elliot Wave. If too early in an uptrend if you get a couple pullbacks, with the 2nd one larger than the first, it might only be a wave 2 pullback, you are too early in the trend and price is going to go to another high. For true end of uptrend symmetry breaks that symmetry break needs to occur after a wave 5 of some sort.
other symmetry breaks on the upside you see are 4th wave pullbacks where that pullback might be larger than the wave 2, many times you get a lower high wave b, but then once c move down is complete you get another move up for wave 5.
the point is, be careful with symmetry too early on an uptrend or downtrend, because it might just be an early wave like a wave 2
again symmetry is a guide and a tool that one should use other information to confirm or filter out
otherwise the recent symmetry breaks are playing out on SPX and QQQ
all that bitcoin ETF stuff
Posted by matt on 11th of Jan 2024 at 11:41 am
all that bitcoin ETF stuff yesterday was such as easy sell the news event this morning
Days not over. Someone could
Posted by DigiNomad on 11th of Jan 2024 at 11:45 am
Days not over. Someone could float a story about a clearing the budget impasse any minute now. Haha.
Election years aren't historically strong because those are the years that Congress decides to be fiscally responsible.
Same with the Pot Stocks
Posted by mla127 on 11th of Jan 2024 at 11:43 am
Same with the Pot Stocks way back ... it was visible miles ahead ... lol