Peter does not use Wyckoff or Elliot So he has a few holes in his Technical analysis but he mostly gets it right. I have listened to him for years. He learned market profile and was good at classic technical analysis. Elliot said in the 5th wave you often get this straight up parabolic move (especially in commodities).
Wyckoff said measure legs to see market expansion. I really doubt we get much selling this month. Beggining of the year money got to flow somewhere. In the past a big up year was usually followed a kind of flat year.
In the nasdaq parabolic up move. Limit up was normal so stocks would gap up consistently 2-3 points.
The parabolic nasdaq up was followed by a parabolic down move.
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