Dow still looking like it may not be done....need a breach of 34200
until then, potential for one more leg up....
THE PRIMARY WAVE THREE thread and finding the Intermediate wave TWO corrective low
Started by
senorBS
, Mar 05 2021 02:27 PM
2512 replies to this topic
#921
K Wave
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Posted 06 May 2021 - 09:37 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
#922
K Wave
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Posted 06 May 2021 - 09:40 AM
RUT hourly.
IF the yellow line gets breached after this bounce, decline may accelerate....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#923
CHAx
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Posted 06 May 2021 - 09:44 AM
Interesting Fib Extensions:
If we consider 1677-1798 as (i), 1754 (ii), (iii) min target is 1875 @ 1.00 extension, 1.618 @ 1950
My thoughts are that is extremely unlikely we will see 1780 again for many months.
Ironically, I am only 70% long. I dumped some of my /GC position 1790 a few days back, as I was concerned about the alternate count for a wave 5 down. Now 1801 was smashed, wave 4 is invalidated. I will be buying dips and looking for much higher prices.
#924
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Posted 06 May 2021 - 09:46 AM
Gold reasonably likely to make the 4 hour line now....
If a big reversal were to come, that would be the most likely spot now...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#925
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Posted 06 May 2021 - 10:01 AM
And NFLX just closed below the March low on that 30 min bar...in the danger zone now, unless it can reclaim 500 PDQ
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#926
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Posted 06 May 2021 - 10:06 AM
GDX 2 hour...last big hurdle...and most likely spot for trouble, if it were to come....
Edited by K Wave, 06 May 2021 - 10:06 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
#927
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Posted 06 May 2021 - 10:08 AM
and fresh lows on Rusty
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#928
K Wave
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Posted 06 May 2021 - 10:08 AM
TSLA now in dive bomber mode...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#929
K Wave
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Posted 06 May 2021 - 10:09 AM
first sign of a real flinch on Dow...now we see about 34200...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#930
CHAx
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Posted 06 May 2021 - 10:10 AM
Gold reasonably likely to make the 4 hour line now....
If a big reversal were to come, that would be the most likely spot now...
https://www.dailyfx.com/gold-price
The bears have come out shorting again, all night last night and all morning this morning, I've watched the small specs add. Now they were right last time, and caught a big 1 day reversal. So, I don't discount that aspect, BUT I do doubt that they are incorrect about trend here. With the shorts adding on rips, it should give us nice support during any sharp reversals the next 48 hours. I will be buying any such dips.
