Three Drives End Game: Three Bears' Correction: Papa Incoming!
Chart says all. June gave us a Baby Bear; Sep/Oct the Mama; and Big Daddy Papa Bear is waking up soon IMO.
Expect Strong support around 3400. This is a guess; as the bubble expands, price correction magnitude increases.
Geometric modeling projections shown estimated length and price based on extension from Baby > Mama > Papa.
Third Drive near completion IMO; 72 days' projection based on extrapolated duration of last two corrections > ~13 Jan.
3861 price is a guess, just a squeak above Fri 1/8 close... probly close to rollover atm, VIX stays up at ATH...
Soon... a few days, weeks at most IMO. NB: See RSI weakening, MFI diminishing... volume diverging as well...
This is nothing more than an educated WAG, not investing advice; trade at your own risk, GLTA!
Expect Strong support around 3400. This is a guess; as the bubble expands, price correction magnitude increases.
Geometric modeling projections shown estimated length and price based on extension from Baby > Mama > Papa.
Third Drive near completion IMO; 72 days' projection based on extrapolated duration of last two corrections > ~13 Jan.
3861 price is a guess, just a squeak above Fri 1/8 close... probly close to rollover atm, VIX stays up at ATH...
Soon... a few days, weeks at most IMO. NB: See RSI weakening, MFI diminishing... volume diverging as well...
This is nothing more than an educated WAG, not investing advice; trade at your own risk, GLTA!
Trade active
Thanks much for the many positive comments! I am short four major indices. GLTA!Note
Closed half pos on the EOD sell; good chance it could bounce to cover IMO. Now in Feb $11 UVXY calls.Trade active
Added spreads in AM and closed on the PM sell; look for a weak bounce Weds to add more IMONote
Can't emphasize strongly enough how shorting too soon just kills you, look in comments at idea I linked, if we get a blowoff RSI will go extreme oversold as the signal we saw in previous tops, it's channeling atm IMONote
Like I said, don't be tooo eager to jump in shorts, lol. Meltup still got a leg left in it IMO. Blowing off NQ, Robinhood Mania.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.