CBOEAlumus

CBOEAlumus Updated 

Spy appears to be in an extended minute v))th wave of minor wave 1 up from the triangle completion - e. This v))th wave appears to have a bit more to go, as SPY still needs to complete minuette waves iii), iv), then v), which will complete wave 1, and usher in the wave 2 correction. As can be seen on the chart, SPY is in subminuette wave iv, which should be near...

CBOEAlumus

It looks like the alternate SPY triangle count has won out. Wave e appears to have completed with the lows 6/28. The first minor wave up (of cycle wave V) should be nearing completion of its 5th minute wave, and a wave 2 correction should set up a nice buying opportunity. Wave V should bring the SPY to new highs, and eventually to the end of this bull market. Of...

CBOEAlumus Updated 

Following up on the Elliott Wave triangle, big picture, SPY is still in wave e, the final wave of the massive triangle from the January highs. Wave y, A) went down to 268.49. I believe SPY is in wave B) up. SPY has completed wave A (of B)), with the move to 273.66. Wave B was a deep correction and brought SPY down to 269.24. Wave C will typically surpass the...

CBOEAlumus Updated 

Suppose what I previously labeled y,A) is actually y, C, e? That would mean wave e of the triangle has completed and, instead of being wave A, this wave up from Monday's lows is the first impulse wave up, and the massive triangle IVth wave correction from the January highs is over. That would have very bullish implications for SPY. Either way, after the B wave...

CBOEAlumus Updated 

Litecoin appears to have completed or is very close to completing a Wave IV triangle, and should be starting Wave V up. If this plays out, LTC should take out the December highs around 400

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The move off of the upper triangle boundary d has been a little difficult to decipher,due to overlapping everywhere, but here's what I got. Leading expanding diagonal wave A, with a 3 wave move to w. 3 wave bounce to x, followed by wave y, A), which may or may not be complete. When complete we should rally to wave B), followed by a wave C) drop to complete wave...

CBOEAlumus Updated 

After the successful Bullish Bat buy signal, which brought about the end of the wave II correction in ETH, there is now a potential Bullish Butterfly forming. (see related ideas below) If this plays out, we get a completed Bullish Butterfly harmonic pattern in Ethereum at 537, which also happens to be the 61.8 retracement of wave 1 (0f cycle wave III up). This...

CBOEAlumus Updated 

Potential Bullish Bat forming in ETHUSD. Projected completion is 534, invalidated 497. Correlates with Wave 2,C completion & 61.8% correction of wave 1 up. Even if the Bat pattern gets invalidated, there could be a significant low when wave v)) of C of 2 completes.

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QQQ completed a Gartley Sell signal today, and closed with a bearish gravestone doji looking candle at the .786 resistance area. Not much else to say, but this looks pretty bearish.

CBOEAlumus Updated 

I believe SPY is in a minor wave 4 correction of Intermediate wave 1)) up. If wave 4 is similar to wave 2, we can expect a minor pullback, probably somewhere between a .232 & .382 retracement, somewhere between 272.02 and 270.68. Since wave 2 was a flat, I would expect wave 4 to be a zig-zag, as it's shaping up so far. Since the start of this bull move from the...

CBOEAlumus

It appears that SPY has broken out of the IVth wave triangle and is headed to new all time highs in cycle wave V, after which comes a major crash. As you can see, the triangle is subdivided into 5 waves, A-E, and if this representation is correct, the beginings of the Vth wave bull phase is underway. This is confirmed by the wave structure in minor waves 1 & 3....

CBOEAlumus

If Friday's low marked Wave E of the Wave IV triangle, the first minor wave up of cycle wave V has either completed , and we are in the corrective minor wave 2 down, or wave v)) of 1 is extending, and we are in wave ii) down of v)). If that's the case, we have a few more waves up until minor wave 1 up completes.

CBOEAlumus Updated 

As is frequently the case in Elliott Wave analysis, I have had to re-label my wave count. My assumption was that after the opening yesterday, May 3, we were in a minute wave iii)) of 3 down. Though this proved to be wrong, I still had one of my better trading days, buying puts at .97, selling the last ones 1.97. Right now, my two most probable scenarios are that...

CBOEAlumus Updated 

The Wave B)) triangle I spoke of previously has completed. It also looks like minor wave 1 down has completed or is very close to completing. Minor wave 2 up shouldn't last too long. I would expect a bounce to the .382 retracement level of 264.36, or the .50 retracement level of 265.06. After minor wave 2 up completes, minor wave 3 of C)) down should be a strong downmove

CBOEAlumus Updated 

SPY has been very choppy recently, and there are lots of competing Elliott Wave count scenarios. My top 2 scenarios are bearish. Count 1 is that we are in Wave C)) down, and so far have had a 1)-2) and a1-2. It's not clear if we are starting wave 3 or another 1-2. I'm leaning towards 3. Count 2 is a B)) wave triangle, and are beginning Wave C)) down. Both 1 & 2...

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Since reaching new highs in Feb, SPY has been correcting, with primary or intermediate wave A)) down, wave B)) up, and now wave C)) down. I believe this C)) wave is not complete yet, and is subdividing into 5 waves, because the rally off the April lows, labeled intermediate 1), doesn't strike me as impulsive. So I'm labeling the April 18 swing high as intermediate...

CBOEAlumus

Possible Gartley formation in LTC. At 162, AB=CD. At 160, 1.272 extension of AB.