We've been in a nice upward channel since the US Elections, then yesterday hit.
Today we had a .618 FIB retrace up of yesterdays down run which puts us on an E Wave 3 Downward
4% puts us at the 50 Day MA
14% would put us at the 200 Day MA
28% would put us at the 2008-2020 Up Trend Line
Exiting remaining long positions, already added SQQQ at the turn.
SPX500 following same glide path.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Today we had a .618 FIB retrace up of yesterdays down run which puts us on an E Wave 3 Downward
4% puts us at the 50 Day MA
14% would put us at the 200 Day MA
28% would put us at the 2008-2020 Up Trend Line
Exiting remaining long positions, already added SQQQ at the turn.
SPX500 following same glide path.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Nota
Glidepath still tracking, on Leg 5 now, we saw a back test and rejection Friday.BTD and an abrupted wave 5 into an A/B/C possible Monday
The market hates to go one direction too far too fast.
Nota
Monday - Wave 4 went to .786 FIB retrace almost perfectlyLikely drop tomorrow
Nota
Wave Pattern invalidated. Return to Channel if we don't get a drop soon.
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.