FLOOR LOOKS LIKE 385 INSTEAD OF 360. Notes: Same overall route. Down more first, but not as much as previously thought. Would I be surprised if it hit 360? No. But short term trends are starting to change bullishly.
LET'S TAKE THIS ONE STEP BY STEP. Notes. Despite changing my bearish thesis to a "3-step zig-zag" up ala S&P500, I am not as confident about it (after I detailed everything"). So let's take this one week by week. Right now, I see a shallower drop like the previous post with TSLA. So still going down, just not as much before the bounce up.
MAYBE 3225 BEFORE ALL THE WAY UP.
FORMAL CHANGE OF THESIS, AND NOTES OF CROSS-ASSETS CORRELATION. Notes: From here on out (10/28/20 8:01 PM CT), this chart (above) will be standard format for OS# posts. In Draft 1, I saw a giant move down coming because the "major periods" look really bad. After a full count (line by line) analysis, I couldn't say that seriously and noted in Draft 2 noted that...
Quick update only. Will add more when I have time.
IN DRAFT 1, I PRESENTED THE EEM DESTRUCTION THESIS. AFTER SEVERAL INSPECTIONS, I DON'T HAVE EVIDENCE TO SAY THAT IS THE CASE. Notes: With that said, EEM will still be one of the 10 or 12 tickers I track bc of its popularity (not necessarily on TradingView0. Here is the 3 week outlook.
THE LIGHT GRAY ROUTE IS TECHNICALLY DRAFT 1 EVEN THOUGH I DIDN'T CALL IT THAT. Notes: I started this for a request a while ago, but noticed that its strong bounce after the recent sell off (bad news from FDA or something like that) had real volume structure that is ahead of price. That is to say that this is a strong stock that may catch all sorts of fire after...
THIS IS QUICK UPDATE. Notes: First draft was 6 day bars to outline REALLY LONG TERM outlook. This is 320-min bars saying we may get 34.75 before the next bounce.
QUICK UP DATE: PULLBACK NOT OVER YET.
PLEASE RE-READ DRAFTS 2 & 3 FOR BACK GROUND. THIS IS JUST A QUICK UPDATE. Notes: So in draft I discussed the 3 routes that it would take. Right now it favors "sideways to up route. The time for an 11,200 retrace is over. This is what it looks like going forward. Mid-November should provide a "last chance to get in" entry for the run to all time highs
QUICK UPDATE ONLY. ADD MORE NEXT TIME.
THIS IS A QUICK UPDATE. WILL ADD MORE IN DRAFT 4.
JUST MORE DETAILING THAN DRAFT 1. Notes: Like TSLA, this coming bounce is going to be weaker than draft 1, with expectations of a deeper pullback prior to election. Will add more with time
GOT THE THE ZIG to 12200+, HERE COMES THE ZAG. Notes: Check out BTCUSD series history bc this methodology has been nailing the move for Bitcoin since early September. Going forward, 107-min will be default bar size for the OS# series. I am aware I haven't updated gold chart, I have some exciting stuff coming up for gold charts. Will add more with time.
CURRENT CURVES SHOW USD READY TO GO SIDEWAYS FOR 2 MORE WEEKS. Notes: This is actually overall bullish for the dollar until the second week of November. We will find out a lot then in terms of what is really more favored for the rest of 2020. That said, overall 1-day and 2-day curves out 9 months is very, very bearish. Will add more if I have time.
MORE BEARISH SHORT TERM. STRONGER INTERMEDIATELY Notes: Updated curves do not anticipate as strong of a bounce into the fourth week of October and that bounce is going to be rug-pulled hard. How hard? Well, not as hard as previously anticipated. The odds of a weaker correction followed by new high is worth noting at this point. Still favor a strong correction...
THIS COULD BE WHAT A BEAR'S DREAM WOULD LOOK LIKE. Notes: This is first draft, yes I get that, but the line up is really, really, really bearish. Will definitely add more for this one. Can't say when.
DON'T TRY THIS AT HOME. Notes: This is just a zoom in for next 48 hours. First draft is still good, nothing has changed.