It is striking to me how much the new case counts of COVID in the US look like an Elliot wave. Alternate sentiments of panic and denial seem to create a similar fractal as greed and fear in trading. I hope a solution is found soon.
The trader in me can't help but to notice the emotional component to the COVID response in the US. There is a large amount of altering panic and denial. This results in rapidly altering between tightening and loosening social distancing measures. With a several week timelag, this results in more and fewer new cases. Pumping like price action on a hot stock. ...
Remember the IHME model from 4/1? It was criticized for painting too pessimistic of an out look. The model assumed social distancing measures throughout the end of May, after which the outbreak could be further controlled with testing and contact tracing. As a nation we decided to end measures prematurely and have an inadequate testing and contact tracing plan....
This is a very rough approximation of the IHME predictive model of deaths in the US due to COVID-19. I think many still fail to see the scale of the problem. Will be interesting to follow the data as this crisis unfolds.
Silver looks like a great opportunity lately. Since I do not have the resources for or access to physical silver, I'm investing in iShares SLV ETF. Seems to be close to major support and near the bottom of a 2 sub-wave within a larger coming 3 wave. Please comment and let me know your thoughts!
Thanks Dalon Anderson from High Altitude for the idea on silver. ...
ADA was my first big successful trade at the end of 2017. Looks like we are heading into a new marked cycle. Big volume spike. Looks healthy. Using Fib extensions to target TP1 at around $3.5 and TP2 at around $4.9. Used a base of $0.03 in my fib extensions based upon data not available in TV. My first purchase in ADA was abound $0.03 when I identified a cup...
Anyone else see an Elliot wave forming in this panic? This is obviously only one of many possibilities. I plan to ladder in for the longterm between $171 and $100 (0.618 and 0.786 retracement of the 10 year bull). Jives with an Elliot wave I see forming on the sell off.
