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Welcome to the week with quad witch on friday.
Never give up, never surrender.
Something to note and hope it don’t happen.
Astro prediction of a strong covid19 2nd wave
running through Oct Nov Dec 2020.Never give up, never surrender.
NYA: here’s an updated chart of the NYSE Index.
It’s clear that we got a wave A up followed by B down to overlap.
After that I expected we’d see C up which would be either 0.618 or C=A. So far it’s been neither – it stopped in mid-air between the two, and with a pattern that doesn’t look like a completed five but *could* be some sort of three.
Of course the world isn’t perfect. and neither is chart analysis (or markets for that matter). So this *can* be a completed ABC up in which case it has already slightly overlapped A and might decide to go lower.
The alternative bullish view is that the upwards C doesn’t make sense and might need to complete via a rising wedge (see chart).
Note that the important 21 day MA for NYA again acted as a strong support point.
I have two timing issues for US stocks rth only.
Odds are we gap up monday … a gap down would be fake.
On friday I expect a strong close … even if we open weak.
Never give up, never surrender.
Feds powell speaking to congress tuesday/wednesday.im expecting some meaty stop runs.that should decide the trend into friday.
A weekend thought. apple this week was near 10% above previous ATM before covid and Chinese trade war.
So now that they have problems manufacturing and selling are worth 10% more.
of course is a FOMO bubble like 2000 but for us as traders we should not care about that
just go with the flow and make money.
Indications the US stocks will gap down.
‘K’ will be happy with his weekend short.
I will go long the NAS.
Never give up, never surrender.
A plan is a plan, take a deep breath …
Long NAS at 9460
Never give up, never surrender.
Wow.thats a very lovely way to start the week for pal.es off 80 handles..looking to long this soon myself.
Clearly if this futures action translates into RTH then all upside counts are invalidated.
For SPX the 50 MA is at 2,900 and has acted as support/resistance before (although not accurately).
The wave A overlap is at 2,950, and if CASH trades below that I have to assume the bear rally ABC (or at least first abc) completed.
Today is NAS Cycle Day 1 … find a low to buy ( rth only ).
The quad witch boyz will have fun this week !
Never give up, never surrender.
Suicide mission. Shorted 3038.7 No reason other than I expect lower, whether today or Monday, it should be lower.
Very rare you cn stay in bed without needing to be in the office (on a laptop).
Even rarer that you can bank 95 points on an overnight trade.
Closed 3038.7 short at 2943.4 for 95.3 points.
Looking at things I could probably continue to run, but I want to have this in the bank.
Plan your trade, trade your plan!
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