MOASS: How Will We Know Its Over
So far in our coverage of GME we have told you how high we think price will go during MOASS and also what technical triggers we think will lead to take off
We have also told you, from a timing perspective, when we think MOASS will kick into high gear (Oct 21st)
What we havent told you is how to know when MOASS is over
The short answer is: A break below VWAP
As we told you last week VWAP is a key data point that Institutions/Hedge Funds use to identify ideal entries/exits
Its also a key data point used to define acceptable risk (i.e. XYZ standard deviations from VWAP things break)
Like the Jan 21 squeeze this one will most likely be triggered by a Short Squeeze/ Gamma Ramp which will lead to forced buy-ins and extreme delta hedging
In a Short Squeeze/ Gamma Ramp environment VWAP is THE MOST IMPORTANT DATA POINT TO SHORTS
As long as price is ABOVE VWAP its not advantageous for them to close their positions...
And that is why your trigger to know that MOASS may be winding down is that first dip BELOW VWAP after price explodes
M O A S S
We have also told you, from a timing perspective, when we think MOASS will kick into high gear (Oct 21st)
What we havent told you is how to know when MOASS is over
The short answer is: A break below VWAP
As we told you last week VWAP is a key data point that Institutions/Hedge Funds use to identify ideal entries/exits
Its also a key data point used to define acceptable risk (i.e. XYZ standard deviations from VWAP things break)
Like the Jan 21 squeeze this one will most likely be triggered by a Short Squeeze/ Gamma Ramp which will lead to forced buy-ins and extreme delta hedging
In a Short Squeeze/ Gamma Ramp environment VWAP is THE MOST IMPORTANT DATA POINT TO SHORTS
As long as price is ABOVE VWAP its not advantageous for them to close their positions...
And that is why your trigger to know that MOASS may be winding down is that first dip BELOW VWAP after price explodes
M O A S S
Note
Zooming in a bit
This is what we are watching for early in the week
Note
Morning!
Casino will be open shortly
Nothing else to add at this point
Mainly watching for an increase in trading and short volume as price should rise along with them
Chart above works for now
M O A S S
Note
That push lower changed but cleared up the structure
Note
And that is the power of elliott wave
Now lets see where we go from here
Note
Ok based on this price action this is how we are seeing things at the moment
Remember as we always remind people, in elliott wave if we over/undershoot targets, we just look to the next higher/lower fibs
Note
Thinking we head higher by EOD to complete Wave 3
Note
And thats a wrap
Casino has been closed but we had a good day!
Things are progressing as expected
Expecting a continued push higher leading up to Oct 21st and thru the election
Get ready because its happening
Note
Morning!
Casino will be open soon
Not sure if you can feel it yet but things are getting spicy from a price action standpoint in the markets
Chart shows what we are watching for today but at this point we are patiently waiting for the fireworks to begin
We still feel next week is when things kick into high gear (btw- that doesnt mean MOASS next Monday..that means increased volatility and volume which should get price moving at a faster pace than its been moving)
M O A S S
Note
Dont sweat this extended pullback
Price is tracing out a very common elliott wave corrective pattern called a FLAT
Still headed higher folks!
Note
And thats a wrap!
This was a good day!
Told you not to sweat the pullback
Higher we are headed!
M O A S S
Note
Afternoon!
Late posting today but it looks like price has drifted higher
As the broader market find direction things will pick up
Lets see how the day ends
M O A S S
Note
And thats a wrap!
Price is still heading higher towards the Wave iii target
And as you can clearly see from the chart price is having significant reaction to the lower level VWAPs on the chart
You can expect the same type of volatility as we approach the larger VWAPs weve been pointing at for the last couple weeks
M O A S S
Note
Morning!
Casino will be open later
Watching for continued movement higher as we get closer to Oct 21st
Should see strength in the broader markets which should add fuel to GMEs fire
Chart above works for now
M O A S S
Note
And thats a wrap!
Ok posting a view of price on the daily because we want to beat home how its obvious that these Algos are using VWAP as a central piece of their strategies
Each VWAP is from a significant recent low
Notice how price is ping ponging around and between the VWAPS
Take a wild guess whats going to happen when ANY significant volume comes in near those VWAPS?
M O A S S
Note
Morning!
Casino will be open soon
Expecting support to hold and price to continue higher towards the completion of Wave iii
Get ready folks because things are heating up
M O A S S
Note
And thats a wrap!
Ok lots of overlapping price action but that is the nature of impulsive moves that are comprised of diagonal structures
As you see we have adjusted the count based on the latest action
FYI- you see diagonals at the beginning and/ or end of impulsive moves
We have been saying that price is preparing to run significantly higher so again it makes sense to see the beginnings of said move include overlapping diagonal structures
Why? Well from a sentiment perspective those structures are a sign of indecision (i.e. why we see the overlap) and signal a potential change in trend as buyers/sellers scoop up liquidity and re-position to follow price the other direction
We will go into detail more in our weekend update but this is EXACTLY what you would expect to see if you were looking for the type of upward movement that we have been calling for
Oh and dont forget..Monday is Oct 21st..you will see why we pointed to that date by month end
M O A S S
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