Although moving averages aren't looking good, EWZ is in a big support zone (white area). In this Elliott waves analysis EWZ hit the 0.382 (30.78) fibonacci retraction for wave 4 and if this is the end of it, wave 5 could hit 0.618 (42.01) or 1 (49.15) of fib extentions. The ex-president Lula news made the market drop today, but Lula isn't worse than current...
Elliott wave 5 incoming, main target at 1 fib (around 4000 satoshis).
Daily chart is telling me down, but my heart and this ascending triangle are telling me up.
This is what I see from S&P500. My bull scenario without a big correction is 4200 at maximum. Besides quantative easing, long it is a bad risk/reward, US bonds are going up and real economy is a mess.
IOTA had a amazing bull run last days and I took some profit according to my previous analysis and rebalancing strategy. It reached the top of my Elliott based channel too fast and risk/reward of long it now do not look good. I'm neutral, slightly bearish. I'm watching more the BTC chart currently.
Regular Bearish Divergence on BTC/USDT daily. Market still in a uptrend but this is a sell signal.
If IOTA breaks this resistance may be the start of a upward trend.
I don't think TA over small caps is a reliable tool, anything can happen. But as I like IOTA and hope the best for its future here I go.
Possible truncated Elliott Waves pointing a top in 3850~4000 area.
Although IOTA does not have miners or stakers to raise the price, the project has excellent developers and community. In addition, the project counts a lot of enthusiasm in the academic, industrial and technological environment. The Coordicide event should push prices to higher levels in 2021. Until then it is time to accumulate. The weekly chart suggests that...
Will SPX reach the 0.618 fib target?
Indicators not pointing overbought or divergences but watch this simple trend line after march covid-19 crash. I'm sightly bearish.
A pullback expected, RSI showing divergence in 4h.