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Seasonality and interest rate hikes.
3 minutes into the video he shows 70 years of statistics about rate hikes and also stats on mid term election years.
I like this guy because he was also one of the very few people that called for a 4500-5000 market back in mid 2020.
SPY 4 hour chart downside target. Link back for original chart.
This would be where wave 3 and 5 are equal
This would fill gaps 19 and 20 and potentially take out the lows from May.
The next chart is a more bullish look at some measured moves and harmonic pattern.
The PRZ is 427 to 422. This would not hit the Wycoff target of 415
I would favor a bounce at this prz of some sort. But I still would think that at a minimum the 19 and 20 gaps get filled and that would also hit the Wycoff target.
Wycoff targets if the market goes lower this week.
NDQ 4 hour target 2 could get hit
ES wycoff target at 4150 with prior swing lows at 4126 to 4036
I am waiting to see if they come out with another target lower. They said that this was just a conservative count and there is a potentially bigger count coming.
DJI This one has 2 targets. The first one could get hit this week, but the second one is way lower.
I am waiting to see what the black swan event is going to be this summer that would cause the markets to crash 45-50%
After this week, the charts are setting up for a potential bounce, IMHO that would be the prime time for the black swan to show up so that they can put the blame on something, when the charts are already suggesting that it is coming.
IMHO the weekly SPX chart really looks like it is setting up for one more push to the upside for a big dead cat bounce that could potentially put in a double top or slightly new high. I don't see new highs happening in the other indexes, just the SPX
VTWO daily with volume
I posted earlier that something is up with this.
The last time that we had an oversold RSI and volume, it moved higher.
Interesting to note that VTWO did go higher, it never made a new high in yellow compared to the SPX in orange that did. And the result was a crash.
It took almost a year for it to play out.
Once again, this adds another positive check mark to the idea that the SPX can still go higher.
IMHO
I think that time is finally showing us some likely possibilities on the charts that are suggesting a topping process is taking place.
In regards to the SPX, there is still the potential for a new high.
After the month of February, It really looks like a bounce is coming in the markets quite possibly for 60-120 days.
The possibility of a 20% correction is more likely at that point.
In regards to the Electric Vehicle sector....
So many of the EV stocks on my watch list are starting to fall into the $1-5 range and a good accumulation phase on the ones that run the hardest is usually 1-1.5 years long at those levels.
This would suggest that if we see a 20-50% market pullback, it also typically lasts 1-1.5 years.
Emerging from the crash I believe that the EV sector will soar in a big way !!!!!!!!!
No real need to start buying right now and tie up a bunch of capital.
I will start posting them towards the end of the year and going into 2023
On the SI board of humble 1 Trumptown shared a chart on the Vanguard Russell 2000.
The volume right now is HUGE!!!
Something is up here.
NDQ 1 hour Wycoff target from P&F video
Weekly, although I can see the SPX possibly hitting a new high, this one doesn't look like it will.
2000 NDQ weekly, After this month there could be a bounce to retest the top breakdown level like we had in 2000
This is why I think that ARKK will have a bounce coming.
SPY 4 hour chart.
A closer look at the two 5 wave counts.
There was a slight overlap of wave 4 into wave 1.
Price failed to make it up to a gap.
Wave 3 and 5 were an ABCD pattern. In the intro I list the relationship of the ABCD patterns.
In the September 5 wave there was a deeper pullback of Wave C that projected a 1.13 to 1.27 wave D
This time we had a .70 wave C which has a 1.414 wave D projection.
Wycoff distribution is almost a combination of #1 and #2 with the deep move in Phase C and then a big bounce.
A closer look. The yellow arrows are cloned so it is possible to see a move down where basically wave 3 is equal to wave 5 in time and price.
This could suggest that we could reach the target as soon as next friday.
ARKK I will be watching to see where this one is by friday.
If it holds support it is setting up a wycoff accumulation
Range trading set up.
Yellow box is the range for Friday
Purple line is the center of the range
blue boxes are the .618 to .786 buy sell zones from top and bottom of range
Price gapped up on the Sunday session open.
I put a buy limit in at the center purple line and got filled with 2 contracts.
Stop loss is at the swing low below the purple line.
Target 1 is the bottom of the sell zone. R/R 1:3
Target 2 is the top of the sell zone. R/R 1:5
If target 1 gets hit for contract 1 then stop loss is raised to break even on contract 2
Wycoff updates. I have been waiting for this guy to post an update.
If you want long term outlooks, this guy has great factual info.
Pay attention to 30 minutes into his chart where he shows the trend strength scores.
This is how my swing trading chart looks on the 5 minute time frame before I clean it up to post.
I use the blue 50 EMA, white horizontal boxes are support/resistance. Orange arrows are areas where I look to buy off of support/fib levels.
I bought support of the 50 EMA once price got back above the .50 fib. It did eventually get stopped out for a small loss, then I saw price starting to show weakness under the 50 EMA so I reversed my position overnight to a short position.
Price failed a new high at the fib 1.14 which is a bearish shark pattern that has a target down to the .886. and then at the 1.14
If this was a wave 4 today, a wave 5 would possibly complete at the gap fill.
Price broke out of the red triangle and targets would be where price last touched the line or at the begining of the triangle top.
Price fell back into the triangle and bounced out. Typically a fall back into the triangle would be a short to the bottom of the triangle.
Best of luck my friend. It was much more difficult to get a futures account opened as opposed to a standard account at Etrade or TD Ameritrade.
And you can't just wire money in and out either, at least not with my futures broker. But there's no trade limit per day and if the market goes sideways, you don't lose anything because of time decay or expiration.
But just like anything there is always risk involved.
Hello EZ, No I don't use Amp futures.
I am with a company called StoneX which is part of Gain Capital Futures.
Last hour range. I should have been more patient and set my conditional order last night for the range trade.
The white arrow is the last hour of the regular trading session.
Short position should have been taken at the top of the sell zone which is the .886
It only offers a 1:1 Risk/reward, but it's not bad money to make while you are sleeping. LOL