Will_Wong

Will_Wong

FB 61.8% @ $64.06. Also a potential iHnS pattern with the same price targets. Swing traders can go long at neckline of $97.77 for a price target of $105 at Right Shoulder.

Will_Wong

32.8% at $86.21 or 61.8% at $64.06

Will_Wong

Reached the end. Wave 4 of 5 seems complete with a 5-wave descending Megaphone. Wave 5 with an external FB retracement of 1.618 has a target of 18974.

Will_Wong Updated 

and Wave 5 target of $13.96. iHnS pattern target matches the 38.2% retracement of $11.61 as well.

Will_Wong

Alternating bull and bear runs for the past 6 years. Appears that the bear trend has changed

Will_Wong

Second Target $90.

Will_Wong Updated 

The high in October 2008 is recounted as a subwave 1 instead of 3. That being the case, we are on the threshold of a major bullish subwave 3. That is even more bullish than the other count.

Will_Wong Updated 

As Wave 4 cannot overlap Wave 1, it appears that wave 4 bottom is locked in. Final sub wave (iii), (iv), and (v) forms a descending wedge and Wave 5 to the upside appears to have started in the last couple of sessions.

Will_Wong Updated 

Progress!. Could test the breakdown point at 18,000. Wave C of 4 could take it down to trend line at about 16,000. Time will tell.

Will_Wong Updated 

Hourly chart broke the trend resistance line. After retesting, it might proceed to fill up some of the gaps.

Will_Wong Updated 

The Ending Diagonal that took 10 months to form finally ended on August 5 after the market closed when Q3 earnings did not meet expectations. Expect an impulsive wave I down, probably a lot faster than the 10 months it took for the ED to form.

Will_Wong Updated 

The Abandoned Baby Candle Pattern is a rare but accurate reversal pattern. In a rarely traded ETF, it may not be as rare as can be seen in this chart. The December 18 FXP$50 call has a OI of 50 at open today but at the close, 1570 calls changed hand, with most of it at the last hour of trading. It It appears that traders were watching to see if the bullish candle...

Will_Wong Updated 

November data is bad.....Imports declined, Exports declined

Will_Wong

Final wave b & c in progress. First target at $1150 at top of wave b followed by $1030 (final generational low) at bottom of wave c for the completion of Wave II, 4-1/2 years after the blow off Wave I top at $1,900 in the summer of 2011. Wave III will take us to numbers unheard of with the first target of FB 1.618 of $2,464.

Will_Wong

Positive divergence. Inverted HnS pattern in progress. First target at neckline @ 2.77 and second target at $4.00.

Will_Wong

Wave A of 4 seems about to be completed with this ED. Wave B of 4 is targeted at a 38.2% retracement. Wave C of 4 is projected at 850 so as not to overlap wave 1. I am still cutting my teeth on EW charting and appreciate any feedback on this chart. Are there any EW rules against the ending diagonal for wave A of 4? Thanks!

Will_Wong

Notes on Chart

Will_Wong

much higher on wave 5. Has a bottom been locked in by wave 4? Don't think so. Often at the end of an Ending Diagonal, it can wipe out all the gains that gave rise to the ED. So we are looking at 1800 or lower. Time will tell.