AssetDesign

AssetDesign

The market has been acting very well but can the momentum continue into next week? Banks and Oil continue to lead the way but metals and mining stocks have certainly shined today. Market seems to be sensing that the Fed will moderate after the next rate hike. I think we hit a low and will begin Wave 3.

AssetDesign

My current stance that we are in a Wave 2 Correction is being challenged. Price remains below the 40 month moving average with still no sign of a bottom. The Bollinger Band Width measurement shows growing strength in the trend. A spike in the VIX that also can indicate a bottom has not yet occurred. The only positive I see is that there was a little support at...

AssetDesign

In recent reviews of long term trends, I have noticed that the 40 month moving average has marked the bottom levels for Waves 2 and 4 in long term impulse moves. Major corrections have broken below the 40 month average. The December 2018 to March 2020 marked the last major correction phase. The move from 218 to 480 was Wave 1. I propose that we are completing...

AssetDesign

Hard to know if this recent move is the start of a wave 5 up in the corrective rally, or wave 1 of a new downtrend. Lots of resistance in the 3950-4050 range. Will be looking for a short entry before the week is out but still riding the upward trend. Daily stochastics has been positive for the past few days so when I have doubts, I refer back to that...

AssetDesign

I've never seen anyone present an Elliott Wave cycle on this time scale. Although the move doesn't maintain a parallel channel, I put forth the case that the Depression era was Wave 2. Wave 4, from 2002 to 2009. Wave 5 likely has much longer to go. Looks like maybe we are just in wave 4 of Wave 1 of 5 for the final 5th long term wave. Any thoughts?

AssetDesign

Not yet breaking out. Downward trend still intact. Bought a bunch of cheap October puts just in case. PM rallies hardly ever last.