Nasdaq 100 CFD (4H) / Primary Elliott Wave Count
S&P 500 CFD (4H) / Three Elliott Wave Counts
On our way to 4k. Algo target at 3861. W1-W5 equality at 4032.
Is this upward structure an impulse? If an ABC follows to the downside, it would be a bullish sign and a great long opportunity. Lets not forget that diagonals are rare patterns and that wedges can be tricky: look at AAPL for example, we may break it to the upside.
Issue here: the 1 of the C looks like an impulse. It should be a 3 leg structure.
BTC vs. Nasdaq 100 Futures. BTC is considered as a risk asset, not a safe haven (yet).
The orange count in the S&P 500 CFD is compatible with our primary in oil prices (impulse with extended 5th). If this scenario occurs, both instruments would correct in tandem (with quarterly earnings reports?) after the WTI reaches $43 or so.
All-time highs reached. Ending diagonal invalidation is at 9926.2. We are close.
The orange count is less likely but still possible. If it is in play, we may stop around 3560 (W5 = 100% x 0-3). Green is primary (check the RSI, we are clearly in W3), red is alternate (double top).
S&P 500 Index (1H) / Three Counts
S&P 500 CFD (4H) / Two Elliott Wave Counts
Breaking the wedge. Invalidation of the ending diagonal at 337.02.
SNAP (2D) / Two Elliott Wave Counts
I see two different scenarios for Bitcoin. 1) We decisively break the 0.65 (inferior yellow line) and softwares/algos get stopped out. We then make a downward move - the E leg on my chart - that lasts more time than the D due to uncertainty. 2) We do not break the 0.65, we dump below $2K and stay there for some time... before mooning for real.
Compatible with gold miners (GDX).
Oil prices could reach $40 thanks to an extended 5th. The Indices may start to correct only when oil prices top.
3159 is the invalidation level of the red impulse C. It is key. If/when we breach it, it will indicate either: 1) we are in the extended 5 of an impulse off the V-bottom 2) or we are at the beginning of W3 and are about to break the base channel.