AI
Wednesday, August 17, 2022 12:19:12 PM
snoot thanks for your count.........
I'm a big fan of E-wave but counting from the 1800's is way above my pay grade.
Don't take that as a criticism of your count, its not. Its just not something that makes sense to me.
Speaking of Counts, here is Pretzels latest chart and conclusion drawn today before the open.
"In conclusion, multiple markets have tagged potential resistance zones concurrently, and that may cause a negative reaction. It's interesting how these all line up not only with each other, but also with the release of the Fed minutes today. Treasury (smart money) yields began rising a couple weeks ago, when TLT tagged the trend line noted in the 4th chart on August 5, but the market (dumb money) has ignored that so far, in hopes that the Fed will decide that the 8.5% inflation of July is just so much better than 9.1% inflation (from June) that we can happily resume the free-money-party of the past decade-plus. Which seems like a silly thing to hope for.
In other words, if bears are going to show up again, this is as good a time as any for that to happen. Maybe even better. Trade safe."
I'm a big fan of E-wave but counting from the 1800's is way above my pay grade.
Don't take that as a criticism of your count, its not. Its just not something that makes sense to me.
Speaking of Counts, here is Pretzels latest chart and conclusion drawn today before the open.
"In conclusion, multiple markets have tagged potential resistance zones concurrently, and that may cause a negative reaction. It's interesting how these all line up not only with each other, but also with the release of the Fed minutes today. Treasury (smart money) yields began rising a couple weeks ago, when TLT tagged the trend line noted in the 4th chart on August 5, but the market (dumb money) has ignored that so far, in hopes that the Fed will decide that the 8.5% inflation of July is just so much better than 9.1% inflation (from June) that we can happily resume the free-money-party of the past decade-plus. Which seems like a silly thing to hope for.
In other words, if bears are going to show up again, this is as good a time as any for that to happen. Maybe even better. Trade safe."
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
