SHORT HERE. Triple Top Reversal. Bearish Divergence. At all time highs. Missed earnings terribly.
Downward ZZ/ Finishing up 3, more downside to come
Closely resembling a triple zig zag pattern. Finishing it up now. Does Wave 5 now begin? TIme will tell.
We should see a 50% rally by year end. 148 is the 50% retracement of Wave A, completion of expanding triangle, and wave 4.
ALmost missed this sneaky support from covid low. But should hold and get a bounce to E of the expanded wedge. This leg of triangle can be truncated, so as shown, 15% - 35% is possible. Trim at 15%, and send me a commission check.
Per 5 hole theory , this support is good for another 2 bounces minimum. 20% or so by year end.
Had a dream last night. This is what the stock did over the next year or two. Had to chart it and see if it happens.
With the triple zig zag correction nearly complete, we should see XLC rally into year end. Red line resistance is clear (5 hole).
AAPL appears to be setting up an ending diagonal here. We should see the 120-125 area before year end.
Our count has TSLA in the final stage of it's Wave A, followed by an aggressive Wave B ripper. Altogether we will see a several month FLAT from it's current level. Let's print on the dip and rip. Current Positions: TSLA Puts 11/18 $217.5 QQQ Puts 11/9 $271
Downtrend will continue when E is hit. Will be a quick reversal from market sell off to quick climb higher.
June Weakness then Strength into year end. Wave C can end at the .618, `1. 1.23, or 1.618 extension.
VXN appears to have completed a wave 4 triangle and is now in a WXY correction, with Y remaining to be reached. Thus, market selloff continues for another few %.
WB > WA = Expanded (Irregular) Correction. Expecting a short term rally in the face of WC. Met with resistance and the downtrend continues.
Going to see some bullish movement here in the coming weeks.