Sharp pullback
#1
Posted 17 February 2020 - 11:10 AM
#2
Posted 18 February 2020 - 08:21 AM
FWIW, my fractal and momentum work suggest wave-b:a:y:2 is complete, or very nearly so...
#3
Posted 18 February 2020 - 08:48 AM
Is the Checkmark complete on NQ???
If bears can keep things under 9600 today, the rollover may begin.....and if so, dip buyers could be in for a surprise for a while....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#4
Posted 18 February 2020 - 09:01 AM
I don't think that count is going to work anymore at these levels, not down to 2750, because that is a 20% correction requiring a weekly NYAD divergence, the most that can happen here is 3000.
#5
Posted 18 February 2020 - 09:19 AM
I don't think that count is going to work anymore at these levels, not down to 2750, because that is a 20% correction requiring a weekly NYAD divergence, the most that can happen here is 3000.
I agree at this point. Only looking for 1000-1200 NQ points or so on coming decline...I think the breakout over 8K will easily hold with room to spare...
FANG type stuff in Silly Land right now, and excess needs to be worked off for a while...A daily close under 313 on AAPL would likely start things off.
Edited by K Wave, 18 February 2020 - 09:20 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#6
Posted 18 February 2020 - 02:39 PM
NDX refuses to cave.
That pivot just set above 9600, now likely key to the whole ball of wax going forward.
In the meantime, the inching higher into the wedgie continues...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#7
Posted 18 February 2020 - 05:00 PM
I use the 10dma as a decision line, stop buying dips on a daily close below until there are signs it's only a dip,
above 10dma, buy all dips.
#8
Posted 18 February 2020 - 11:02 PM
This is how the MM's work, take the market down, close it down, then run it back in globex and sell back to retail.
Retail shorts or sells after watching CNBC all day talking about a weak market, retail follows the Dow.
#9
Posted 18 February 2020 - 11:09 PM
The internet is full of bears, you can't talk any sense into them, I just tell them to go full short then position trade, no stop, good luck.
Edited by CLK, 18 February 2020 - 11:10 PM.