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Scooby, Chris (cimac) died suddenly last year. He leaves behind his long term girlfriend/partner Katy and two daughters from an earlier marriage. He lived in Exeter. Age 68.
If this chart is correct we are in the final wave 5 of C which might shoot upwards then suddenly reverse.
NYA: for the NYSE index I published this chart back in November that suggested a move of C=0.618 or a bigger move to 17,000 or so for C=A.
We are now approaching the 17,000 target with divergence.
Time to have a really good look at the charts and take some decisions.
NASDAQ COMP: I believe the top has been seen and the COMP has now completed wave ‘a’ of a larger abc which targets the 12,000 area or below. See chart…
The markets continue their madness, and the action has returned to GME and other shorted stocks. I don’t have any positions and I’m happy to stand aside.
NASDAQ COMP: the COMP might have completed an ABC advance where C=0.618.
If so, the COMP should drop to at least overlap wave ‘A’ at 12,000. Of course it can go lower if it wants to.
Interest rates: before the pandemic US interest rates were in the 2 – 2.5% area. Then the virus hit and Powell reduced rates in one fell swoop to 0.5%. Now the treasuries market is sensing blood – the assumption appears to be that if the vaccine allows things to return to normal, then surely interest rates should also return to normal. So from near negative rates treasuries have seen yields rise in dramatic fashion over the last few weeks.
TSLA: underwater on my TSLA short position, but it was only a small initial position. Still, it’s always uncomfortable to be showing a paper loss.
TSLA now above $800 and Musk the richest person in the world. Yes, it is completely crazy, but as we know crazy can continue ‘longer than most people can remain solvent’.
It will come to an end. But when…
