intelligent_investing

intelligent_investing

ROKU is on a tear and the price structure strongly suggests wave-iii of 5 of Cycle-C is underway. Based on Fib-extensions and retraces we should see this wave-iii top at around 138-140, then a pullback to about 112ish for a wave-iv of 5, before wave-v of 5 ideally targets the 148-150 zone. THAT would be a much better level to go short or place long dated puts...

intelligent_investing

The markets rallied hard yesterday from very oversold and topped -so far- right inside the ideal b-/2 target zone of the 38.2-61.8% retrace of the prior wave down (3028-2822). Today sellers took over. So is all of the bounce already over. Possible, a break below yesterday's open at 2895 would be a very serious sign it is. BUT, price can still care out a more...

intelligent_investing

Big picture wise, off the December 2018 lows the S&P500 has so far only made three waves up: Dec->May, May->Jun, Jun-Jul, now in August correction. Thus either we have a larger a,b,c on our hands of an ongoing irregular Primary-IV wave. Or Primary IV already bottomed in December '18 and we have a 1,2,i,ii set up in place, with wave-ii possible already completed at...