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Wave5

Foot Locker Set To Take Large Strides Over Next 3-4 MonthsFoot Locker is setting up to fly high over the next 3-4 months before reaching its next top. This top coincides with my projected market top during the October/November timeframe this year. Based on comparative trend analysis and derivative analytics, Foot Locker should reach its next top between August 9 and November 20 of 2018. The top should occur between 62.12 and 68.84. The minimum move to 62.12 from today's close of 51.92 would generate 19.64%. I am expecting the top to occur in early to mid October around 64.41. Unlike some of the other stocks I am following, The 2019 pullback for Foot Locker should not be as drastic as the rest of the market.
NYSE:FLLong
by StockSignaler
EOS ready for a move up?Quick one today everyone. The first wave up went to just above $18, then corrected to just below the 0.786 fibo. The second wave up went to just above $23, and then corrected, currently sitting just below the 0.786 fibo. Is EOS ready for a move up? Using the ratio of peaks (second peak / first peak), the projected target for the third peak is $28 ... but $30 can easily be a level that it gravitates to. On the downside, of course BTC going down will likely cause further EOS correction ... but I do see the $6 range as strong support. Likely the buy zone is $6 to $7 and the we wait it out ... if BTC starts a rally, EOS could do very well. Remember, only a fool relies on one potential outcome! Do not use this information for financial decisions. For educational purposes only.
BITFINEX:EOSUSD
by MAGICMARK
5
Amazon - In an exponential rally. Next target seen at 1,862It should be clear to everyone, that Amazon is in an exponential rise and they even ever ends well (just remember the last one we saw in Bitcoin). The indicators shows a negative divergence relative to the price movement indicating that this rally is loosing strength and the potential upside is becoming limited. The next possible target for wave 5/ of 5 is seen at 1,862, but exponential rallies has a way of exceeding even the most optimistic, so I wouldn't be overly surprised to see an extension closer to 2,177, before wave 5/ of 5 peaks. However, all warning lights has started flashing, so keep your stop tight.
NASDAQ:AMZNLong
by EWS
1
My Next Projection For Pre-Memorial Day S&P 500Wave 3 took off as projected and it appears wave 4 just completed at the end of trading on Tuesday with a perfect 61.8% retracement of wave 3's movement. The next question is where will wave 5 lead? I project wave 5 will occur by the end of this week, which means next week could have some downward movement. Before that drop lets look at the top. My maximum movement could be a 215% extension of Wave 3 which would bring the S&P 500 up to 2780.35. This seems quite extreme and would require 20-30 point moves each day for the next 3. The most likely extension will be 138.2% of wave 3 which would bring the index up to the 2754 mark. My minimal projection would be around 2745. I am positioning for a move between 2745 and 2760 over the next 3 days. Let's see what happens...
SP:SPXLong
by StockSignaler
ETH, big move up??Well, those of you who got into ETH down below should be happy. But there might be more, as long as BTC doesn't mess this up (and I have a feeling it will)... There are some nice jumps to be made with ETH between heavy resistance. Alts are fairly coupled with BTC and if bitcoin gives them that little push they need to get over resistance, then we have situations like ETH today. It looks like we are in wave 5 of an impulse right now. I look at a few clues, the first being the length of wave 3 relative to wave 1. For an ABC correction, I typically look for wave 1 and 3 being similarish in size. Clearly wave 3 is much longer than wave 1, so it could very well be an impulse, and we have 1 more leg to go. Wave 5's are a pain to predict ... inducing some mega confusion. The length is also unpredictable, if wave 3 is longer than wave 1, which is the case here. But I do see some strong resistance at 760. So I'm looking for another 30 points up from the current 730 range. Assuming that's the end of wave 5, it will then correct ... and formation of the right shoulder of an IH&S is totally possible. That makes it really interesting because the head is 120 points ... would $880 for ETH be possible in the next few days ... yes, BUT only if BTC behaves ... and I don't think the odds are in our favor ... a BTC short from $9k is a high possibility. Anyhow, something to keep an eye on people, this could be the story over the next few days, especially given the exposure ETH gets on Wednesday this week at Consensus. Remember only a fool relies on one potential outcome! Do not make financial decisions based on this information. For educational purposes only.
BITFINEX:ETHUSD
by MAGICMARK
1
Oh the bliss, what a disguise. BTC will you go down or rise?Well, well, well .... just as I gave up on wave 4, here we are. At this point we've reached the all time high trend line and we are hitting a key Fib. Are we all wrong (oh yes, many have changed their tunes now after calling a 4k, 3k, 2k, 1k bottom). Wall street always wins, remember that. They want your money, so they do what's worst for you. Short you say, stay in cash you say? That must have hurt. I'm not trying to be funny guys, but we need to wake up. So where will it go now, as the BTC world turns to bullish euphoria? What will wall street do. It could go up, yes ... but at some point it will drop. The question is when. I don't know that, and it is clear most traders don't either. All I can say, according to the past, is what I think is key to determine sentiment and where I think it can go. At this stage, if we have topped out on wave 4 now, and EW theory holds true (although we already broke some principles), then the bottom in the mid term is estimated to be as low as 5.4k. It can bounce at 6k too! Anyhow, too many times I've been hypnotized by all the green, and then caught in a blood bath the next day. Not today, I'm starting to cash out and lock in my profits. Maybe I'm wrong ... but I'm very confident about one thing ... wall street always win. I'll be ready, either way they take it! Remember only a fool relies on one outcome. Do not use this for investment decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
2
UPDATED Apr 4, 2018 - Bitcoin in it's darkest hourHello gang. So a quick update. I think that drop has invalidated Scenario B, which took wave 4 to the All-Time-High Trend line 2. In the least, it's definitely hurt the probability of it going there. I've removed it from the graph, to simplify the TA. The scenario I've shown here are Scenario A ... this assumes that we are still in mini wave 3 of an impulse wave down. It basically treats the small rally and reversal as "noise". It assumes we will have a hard bounce off 6k (double bottom test) before starting mini wave 4. Mini wave 4 stops short of the wave 1 bottom, and bounces off a Fib line (0.786) before making it's final plunge to the bottom. This assumes mini wave 5 is shorter than mini wave 3, which keeps Elliot Wave theory in check. The box shown at the bottom right is the target range for the bottom of mini wave 5 keeping these "rules" in mind, and there is support at 5.4k, 5k, 4.5k and 4k that all fall in that box, so anyone of those could be the point we bounce from. The other scenario I've shown here is Scenario C (B has been deleted) ... this assumes we finished mini wave 3 at 6.4k a few days back, and the recent rally to 7.5k is mini wave 4 completed. This means we would be in mini-wave 5 now, and the final wave to the mid-term bottom (and perhaps the very bottom). I've explained that comment below. If Scenario C is correct, then the box on the lower left is the potential target for the mini and grand wave 5 bottom, and there is support at 6k (double bottom test before a good bounce), 5.4k and 5k. Anyone of those could be the point we bounce from. A double bottom test at 6k to confirm "the bottom" would make sense in my mind ... but who knows what the big guys have planned to do with BTC. OK, so could this be the final bottom after a grand impulse wave from 20k to ??. Some will say that my grand wave is incorrect, and wave 1 is from 20k to 6k ... possible. That would put us in grand wave 3 right now, and therefore after some reprieve in a grand wave 4 ... we still have to form grand wave 5 and this would take us to a very low price (perhaps then those predicting a bottom at 1k to 3k will finally claim victory, but I think it will be months before we can get to those levels). Others have drawn the same lines and called it an ABC correction (20k to 6k is wave A, 6k to 11.7k is wave B, and now we are in wave C). This theory essentially means the grand wave 5 I have shown in this chart is wave C, and the outcome is the same. Remember, only a fool counts on one outcome! Please do not use this information for investment purposes. This is for educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
LATEST UPDATE - Bitcoin in it's darkest hourHello all, so just some polishing up of the graph. I've slightly adjusted the 6m trend line and that fits better with the bounce off the 6400(ish) level. It's possible we have started wave 4 (see the path to point 4b, dark purple line). Could stop at 7200, but 7800 also is possible, if we allow Elliot wave principle to be broken. Who knows with potential market manipulation, I mean a good rally now would liquidate a bunch of short margin orders ... and that would make someone money (wall street, whale, etc). On the other hand, this could very well be a bull trap, and we are still in wave 3. This does fit in better with Elliot wave theory, and that could possibly take us to 6k (or slightly less) for a double bottom bounce, before we start wave 4 (see pink lines to points 3a and 4a). This brings into picture a potential bottom at 4k, but there is support before we get there, so a bounce off any of those lines is possible. So which way will it go? I'd look for at least a retracement to 6.5k before we can call off wave 4b ... and even then it's tricky. How about validation on the way up? Well, we can bounce off 7.2k down, and we aren't that far off. A break above 7.2k is likely validation for the path to 4b. In between ... range bound, which equals risky trade. As usual, only a fool relies on one possible outcome. Do not use this information for investment decisions. This is for educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK