Looking for a leg down to complete a 4th wave in Nasdaq & S&P . The recent strength can be counted as a B wave with C expected down. A very long trend line and recent touches on it could amount to a bit of a snap if it breaks. C waves are often an impulse as well, so it could be a quick decline...
But it is a bull market so expect surprises to the upside as noted, shorting may not even be a good option here.
If I'm right there should be a good buying opportunity which could amount to a Santa Rally if it sustains.
If you aren't familiar with the 88.6% Fibonacci, .886 is the square root of .786... hence the note on the chart.
I will likely short at 62% or 78.6% of A with a risk to the 88.6% depending on how the evening proceeds.
But it is a bull market so expect surprises to the upside as noted, shorting may not even be a good option here.
If I'm right there should be a good buying opportunity which could amount to a Santa Rally if it sustains.
If you aren't familiar with the 88.6% Fibonacci, .886 is the square root of .786... hence the note on the chart.
I will likely short at 62% or 78.6% of A with a risk to the 88.6% depending on how the evening proceeds.
Nota
Watching for a top, funny enough here at the .886 of the move down... could be two nights in a row where demz da brakes...
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.