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Eliotwave

PAYPAL SHORT TERM. AT WAVE 5 OF 5 OF WAVE 3. LOAD UP ON SHORTSOPTIONS PLAY: LONG PUTS or sell calls. Entry: $108.97-$110.00 Target: $90. Keep an eye on the sub wave 1-2 extension at $110 at 3.0. A blow past the green zone will have to reconsider the count. Puts 2 months out, cant go tits up. This is a close-up of the larger wave 3, see my long term chart for this. The EW count suggests we are at the top here and about to hit the big ABC down to $90 where the 200 DMA and 618 of the fib retracement sits. Fib extensions shown to predict the end of wave 5, and has accurately predicted several of the wave counts before. All EW rules are obeyed and the standard impulse applies. The biggest question is the time factor. I imagine the B wave will be drawn out and a possible flat due to the volume profile and resistance we built on $100-$105. I will be looking to trade the $110-->~$100 swing, exiting and re-entering. for the big C. No stops identified, trade at your own risk.
NASDAQ:PYPLShort
by warrenbudget
YETI... YES START SHORTING!EW count and subwave count shown. I suppose subdivision of wave 5 is also valid (not shown). We hit the 2.0 extension from wave 3 to 4. However, there is still significant confluence around the $35.50-$36 range, as shown by extension from 1 to 2, and an additional extension from IPO rally to lows. Shorts were opened this morning around $34.25 and looking to add around $35.50 IF we get there. For the more conservative investor, look to short when the red major support line is broken. When that support is broke, the MACD histogram may also turn red. There's a gap under $20 that's hard to ignore, but at the least look at the 618 or 50 from the recent run up for targets. Pay attention to the RSI channels to confirm pivots. Fundamentals: Fundamentals don't matter in this stage of the market, but note that these guys make coolers. If you need to know more than that to confirm your shorts, their remaining IPO shares will be available mid April. This could be gravity back to their IPO price.
NYSE:YETIShort
by warrenbudget
8
Elliott Wave: Week of 3/11/19 - Look familiar?A great deal of time has been spent between 2600-2800. Another rejection at resistance (2800+) keeps us in that range once again. Surely a familiar place where many positioning decisions have been made. In Elliott wave terms the rejection, thankfully, completes wave B and provides valuable information about what to expect. The shape of wave B shows strength with minimal pullback between initial lift from 12/26/18 and transition to the wedge formation that completed at 2816. It indicates caution for magnitude of a subsequent wave C downward move. Similarly, the retrace from December 2018 low of the September 2018 high exceeded .618 and then .764 to confirm strength and thus caution. Waves are generally self-similar, and expectation is this time is no different. The pattern leading to the September peak also had a rapid thrust, shallow pullback and then ending wedge. The wedge was exited downward at October 2018's decline. We now see a similar pattern after an even steeper rise from December's low. The wedge has now been violated downward by last week's decline. Note how the initial decline this time is slightly larger than the same approximate area in early October. Comparison supports the potential for the current decline to exceed the previous, with the decline's magnitude outlined in several previous charts. As with the ride up, targets appear for the move down. Last week saw pauses at several lower Fibonacci levels based on extension from February 2018 to September 2018. More important Fibonacci levels are those from March 2009 through September 2018. The 2698 area is one of those levels. In addition, we're once again below 200d sma and face the 50d sma below current levels. The lower boundary of 2600 has provided general support throughout the range bound period mentioned above. Risk at present is still to the downside with excellent new data points to guide navigation and positioning. The Bat pattern is still in place with potential for a larger correction. The subsequent move after the current decline should provide excellent opportunity for higher levels. Too early at present to go into details about that.
SP:SPX
by iamthewolf
Elliott Wave: Week of 3/4/19 - Getting our answersMarket continues to outline the shape for long term expectations. The important area is at hand above 2800 with two remaining important peaks to surpass. January 2018 and September 2018 are the last hurdles for this momentous move since 12/26/18. At present we're in the area of .764 retracement from September's high to December's low. Surpassing .886 in the area of January's high is important for the bulls. That event and remaining above the 200d sma are critical for further advance, with added comfort once 50d sma crosses 200d from below. Above that is the next high Fibonacci level at 3600+ for long term targeting. The bear case rests on failure at the two previous highs and potential for correction of the entire move since 2009. The December correction was appropriately in the area of 21% magnitude of the 2/2016 advance. The correction of the 2009 move should be of magnitude 34%, whether it happens here or after the 3600 peak is approached. Great watching this unfold with no compelling reason to position strongly. Either outcome is of major circumstance with Cycle degree implications off the Global Financial Crisis low. Primary read remains as previous, with alternate path always under assessment. The use of a weekly chart this week amplifies the divergence by major indicators (MACD, PPO, RSI) all showing downward slopes suggesting caution. Break or confirmation of those trends will assist with assessing direction.
SP:SPX
by iamthewolf
BTC at wave 4, Wave 5 to comeWe have seen quite some bearish sentiment out there. With the last rally bitcoin came back up quite good, but I still think the bottom is not in. Using the elliott waves, I would say that this is wave 4 and I expect it to go down again, though I am not sure if wave 4 is finished yet. Wave 3 is known to be the longest and there we have seen the big drop so this would fit quite good. Please tell me what you think out there and give a thumbs up if you agree. This is no financial advice.
BITSTAMP:BTCUSD
by orangemango
SPX [TECHNICALS & FUNDAMENTALS] rally to Feb 15 at $2800TECHNICALS - Gann fans and Fib retracements show us going on one more run. On an Eliot count, we can still be working on the 5th wave up. And take a closer look at the top 10 largest stocks... they all have room to go on one more run. Also, we didn't get a sharp dip from the 618 ($2720), suggesting we have room to keep going. Stoch is overbought, RSI is overbought (almost...), but if we stay flat on Tuesday Feb 5 we can work some of this off, and gap higher Wednesday at open. When we finally hit the 2800-28200 fib level, expect to see an impulse touch and sharp fall - similar to how Amazon touched the 618 at $1730 before consolidating. FUNDAMENTALS - Trump state of the union will be boring... why would he declare a national emergency? That's his last card. He will wait until Feb 15 to do that. Dems have no rush to make a deal bc they want to secure the 2020 election by driving Trumps into defeat. Feb 15 checks all the boxes on the technical projections. I think the Mueller subpoena is supposed to be around Feb 15 too. The jobs report was good, J Powell's dovishness was good. The general public still believes we will keep on rallying in this bull market. Sucker in the last few on this rally to $2800, and drop it hard. Side note- I also look at crypto as a leading indicator to market drops since it is a high-risk sector. BTC looks primed to jump to the top of the ascending triangle before falling as well. We are on thin ice right now though, and the stock market is starting to look (technicals) and feel overstretched. Consider or simply disregard my collection of thoughts here... but definitely proceed with caution.
SP:SPXEducation
by warrenbudget
2
Still LONG potential in ETHUSD- Ethereum is consolidating around the 105 price area what means bearish potential is decreasing -» bulls can take over and we can expect a break out. However we can still go a bit lower before that happens what could create new buy opportunities. - After Wave 3 we can in to a new Dessert crossing phase -» I'll target the 200 price area to close a couple positions and they buy in a again. -» wave 4 could be the longest and most boring one so patience is again key. -Wave 5 should be a strong and sudden break out. If you like this give it a thumbs up! :)
KRAKEN:ETHUSDLong
by CryptoHedging