imdp

imdp Updated 

Looks like a big rally shaping up to end the month of May, but June should be a full-on bear fest, at least to start the month. Major Wave 1 down should end in the 3200 - 3500 zone. Likely, we'll rebound from there into the Fall of 2022. Major Wave 3 will likely project down to the 1500 zone. Major Wave 5 will likely end in late Spring 2023 with target...

imdp

The current 100% projection of the head and shoulders top pattern in Bitcoin takes the price below zero. Former trendline resistance, now support, also hits zero in 2023. In my opinion, the only way this can happen is if Bitcoin is somehow made illegal. I ultimately believed Bitcoin would hit $1 Million, but the current price action has some dire things to say...

imdp

TVC:SPX AMEX:SPY CME_MINI:ES1! CME_MINI:ES1! Well, the S&P; has made a crazy trip from Yearly S2 to Yearly R1 in what has certainly been a psychotic 2020 -- one that isn't over yet. On this weekly chart, I'd like to point out the firm rejection on R1 and then the follow through to the downside this week. While it wasn't crazy-strong follow through, it's...

imdp

In the daily chart of the dollar, we appear to have 5 waves down and now a massive bull divergence building in both RSI & Stoch. Looks like the start of a big new bull run should be starting any day now.

imdp

Bitcoin is approaching long term support around $9,245. This support area is a confluence of many former resistance, now support lines drawn from former highs. Further, we can see divergence beginning to form in the 4 hour RSI and Stoch. This type of trend analysis has worked really well with Bitcoin. My guess is that, if it were strong enough to break through...

imdp

First off, I love Tesla and Elon Musk. I take no joy in sharing this possibility. What it looks like could be unfolding is a double head & shoulders. Around $370 is first support. If that breaks hard, looking at $240 for a bounce to the neckline of the larger pattern before dropping down to the $50 level. Also concerning is the recent high appears to be a Wave 5...

imdp

I think we're headed for a bigger correction here, then an explosion higher that will shock everyone. Don't get too bearish! (Short for now)

imdp

2011 analog vs today.

imdp

I've yet to talk to a single bear. Sell.

imdp

Corn Futures are nearing a potential turning point in coming weeks as technicals and seasonals align. Back in early May, Corn rejected major resistance around 520 and has since pulled back, completing a long cup, while our handle is forming with a retrace of 61.8% ($450) of the move from the lows around $400 early this year to the $520 highs. Although RSI is...

imdp

Might not get this bad, but technicals say it could. Trade informed.

imdp

Cycle analysis of SPY via the S&P 500 illustrates we could be heading for a pullback. The same chart as above but in the monthly time frame is even more convincing of this. If we do tag the trend line and hold, this likely meets the criteria for a monthly Elliot Wave 4 corrective wave targeting +/- 2165 sometime by mid-2015. May 1st, 2014 (Mayday) appears to be...

imdp

Watching for a change in trend for $CADJPY. Resistance should be heeded here, but no guarantees. Bullish MACD cross & Signal from far oversold territory, but probably best to wait for RSI to regain 50 before initiating long. Typically, I don't like to see anticipatory moves likes this ahead of a "major" news release such as NFP 4 short hours from now. My...

imdp

CADJPY headed to the box.

imdp

Topping (usually) is a process. 1929 an exception to that rule, but even that formation put in a right shoulder before dropping more than 50% over a few short months. Wait for a bounce to gap-fill just shy of 164 to pile onto the short side, stops at all time high.

imdp

Doesn't look good...

imdp

Good spot for a top.

imdp

The end of one kind of free money and the beginning of another.