Chadison-Brosevelt

Chadison-Brosevelt

Fundamental reasons to purchase bitcoin continue to stack up... Emerging reserve/speculative asset during a time of increasing consumer confidence... Technicals continue to stack as well... The recent impulsive move up to 10600 continues to correct... No doubt up from here, I've provided a couple of possible pathways within my chart... Thanks for checking out my...

Chadison-Brosevelt Updated 

Large EIA crude oil inventory build today... This could be the catalyst for oil to continue lower... The Fed meeting today could also be a potential catalyst (that's more speculative)... Larger time frames suggest an ABC corrective pattern is about to finalize... First target is around $53, final target price below $50 (I will exit my short at $50)... Below that...

Chadison-Brosevelt

Very little doubt in my mind that equities will begin to outperform in the longer term... Data is starting to turn around and consumer confidence is gaining traction again... The short term direction, in my belief, is heavily dependent on the interpretation of the next fed meeting (Oct 30th) and PMI numbers (Nov. 1st)... I can see two possible scenarios where PMI...

Chadison-Brosevelt

As described in my litecoin update... Cryptocurrencies are currently positioned to exceptionally outperform (will behave as emerging reserve assets/ similar to gold and silver)... This current pump from a capitulation low is very telling of the overall trend... According to Elliot Wave the impulsive move needs a 3 wave pull back... If wave C is equal in length to...

Chadison-Brosevelt

As predicted in a previous post... Litecoin made a marginal lower low then proceeded to make an impulse move upwards... I am of the opinion that $47 was the low for the next run higher... I added to my position at that level and will continue to buy the dip whenever feasible... I expect a 3 wave pullback to occur soon and that will be the next opportunity to load...

Chadison-Brosevelt Updated 

As equities edge ever closer to all time highs, I am leaning more bullish... The manufacturing numbers arriving in November (yellow line) will be very telling of the overall market direction... Positive indicates expansion, negative indicates contraction... I will go long if numbers are positive... Very soon I MAY open a small short position at all time highs with...

Chadison-Brosevelt

On the tailcoats of a surge in consumer confidence and a quasi China trade deal; equities should push higher from here... I HAVE NOT TAKEN A POSITION... I am watching this chart closely as I believe the current push higher could end at all time highs... Following that, an ABC correction is likely that could end at the bottom of the current ascending triangle...

Chadison-Brosevelt Updated 

NOT TAKING POSITION JUST YET. Propelled by US China trade talks taking place this Friday, equities are beginning to turn upwards... Through Elliot Wave the near term target should be around 2985 (wave C equal to wave A)... Around this price I will reevaluate the current climate and attempt to map out a forecast...

Chadison-Brosevelt Updated 

Following the massive drop due to poor manufacturing data, equities have had a considerable relief rally... Most articles point to good employment numbers, but in my opinion this will not prevent an even deeper correction... It seems like news outlets are clinging to whatever data they can find that attempts to explain a sharp move in one direction or the other......

Chadison-Brosevelt Updated 

RSI is oversold on the daily, meaning one more lower low before we start to see the bull market resume...

Chadison-Brosevelt Updated 

PMI data came out today that indicates a contraction in manufacturing... Typically bad for equities and good for precious metals... Gold has been tumbling down these past couple weeks after the larger larger head played out... The low is most likely in and we can expect 5 impulse waves up to complete soon with a small corrective structure... I do not have a...

Chadison-Brosevelt Updated 

For reasons put out in my previous post (global tension based)... The sp500 should continue it's trek downwards... Currently up from my short entry and recently moved stop to red line... Considering entering a second position on a 3 wave corrective rally before harsher downside movement... Not entirely sure on the wave count at this point but the larger head and...

Chadison-Brosevelt Updated 

Litecoin has just taken a massive beating along with bitcoin. The steep selloff is reaching oversold conditions and likely to make one more lower low... This lower low could mark the end of a larger 5 wave impulse move down... After which will resume to bull market with a target that is at the very least equal to wave 1 (about $370), likely 1.618 times the length...

Chadison-Brosevelt Updated 

General global tension along with a slowdown will most likely cause equities to correct much further down... not expecting a recession anytime soon but surely a large correction is needed given the current global climate... Technicals are also lining up as a possible head and shoulders is beginning to form... The most recent move down could also be considered an...

Chadison-Brosevelt Updated 

Oil broke through a key support level and indicates more downside... I took a half short position... Stop loss is most recent high at $59.55... Will add another 1/2 on break of $57.32 or right before inventory numbers on Wednesday if price doesn't break stop... expecting a surplus... This is all still considered consolidation before the larger move downwards to my...

Chadison-Brosevelt Updated 

A great run for gold these past few months may come to an end soon... a huge head and shoulders pattern has formed... through Elliot wave the downside target is around 1450... a break of 1525 would invalidate my idea and could suggest further upside...Not taking a position just yet but my bias is to the downside... A break of 1480 would prompt me to take half a...

Chadison-Brosevelt Updated 

5 impulse waves down crude oil...ABC up... followed by bigger degree C downwards equal to wave A... Saudi oil is going to be back to normal production and recent inventory numbers show a surplus... Will take a short around $60 level if continues up.... OR break of current support with stop at 58.60... target is red line at bottom of chart...

Chadison-Brosevelt Updated 

Gold's recent breakout after the Saudi attack may have sparked a larger move upwards... Retraced to around 61.8 Fib level then bounced out of channel.... backtested channel and continuing upwards again. First target is 1535 with stop at most recent low 1484.50... Move could be dependent on FOMC meeting tomorrow...