btwice53190

btwice53190

Unfortunately we did not see the bounce off the 442 level as I was hoping. Bears won big yesterday on increasing volume, rsi broke down, and we lost the wave (4) pivot AVWAP... so that primary 3 top is in. Where are we likely going? Well we are looking at a wxy correction with the 100 - 161.8 extensions between 438 and 431. We also had the wave iv pivot AVWAP...

btwice53190

This count is still valid and if the indexes rally this week we could see it. IWM is currently sitting right above the 50 & 200 day MA as well as the last pivot AVWAP. If those hold as support then IWM will look to test the upper trendline ~230-232. If this does occur I think that IWM could get rejected at those levels and then be sent down to retest the lower...

btwice53190

It appears that we could put in, at the very least, a short term bottom at spy 442. It appears that this could be a wave A, which should bottom for wave 5 and catch support at the AVWAP at 442. From there I expect at a minimum 3 waves to the upside taking spy back to the 450 range. Unfortunately we could get rejected there taking us for the final leg down to...

btwice53190

I really like PYPL long term, and I think it is possible that bottom is already in on this name. Although, depending on market conditions, it could see a flush to retest the uptrend line. If we get that lucky that is a perfect spot to go long. On the next market leg up I like this name going to 350+ on wave 3 alone. Trade Idea: go long on the dips (with time...

btwice53190

SQ looking like it wants to at least put in a 3 wave move to the upside. Right now it is sitting above 30 week MA and AVWAP support. Looks like it put in an ABC correction already, and either is going to launch on wave 3, or is looking to put in a 3 wave move to the upside, before more downside occurs. Either scenario and I think SQ is going to be back in the...

btwice53190

This count is still very possible, despite all of the index "top is in" bears out there. For this bull count we are going down for a wave B, before rallying to the upper trendline for our wave C of D, the D is of a ABCDE correction for our wave 4. IWM likely goes back up to kiss 232 area before the market actually sees a short term top and IWM gets the flush...

btwice53190

Bear count: Working on a zig zag (Wave A still) because we already topped for wave 3. There will be a relief rally once we hit wave A bottom, which is the last pivot AVWAP. That rally could take the Q's back to 378, but that rally wont be sustained. We flush again from that 3 swing up and the Q's likely finds the bottom for wave 4 at the minor wave 2 (red 2)...

btwice53190

Bears and bears oh my. Look all over twitter and every wave theorist out there screaming top is in. Could contrarian be right here? Honestly the looks of this QQQ Chart it is very possible that the wave 3 top is not in yet. I wont be surprised to see blood red futures tonight leading to one last hurrah rally. Bull count - going down for our wave 4 as we...

btwice53190

Walmart is likely one of the best dip buys out there right now. I expect more downside in the following weeks, but soon walmart will reach a wave 2 bottom, and be in a wave 3 of a 3. Rippy time from there. I am a buyer even now, dont want to miss this one, even though I think we could head a little bit lower. Here I see walmart going down to test the channel...

btwice53190

Amzn was trying to breakout this week, but was unsuccessful. Right now I expect amazon to flush back to ~3350 range which will be the 30 week MA backtest (and our wave 2 bottom). From their AMZN should gather the strength to finally stage a real breakout and we are going to see our test of 4000.

btwice53190

QCOM is looking to break out of a symmetric triangle, and I think we will be seeing that soon. QCOM was +0.78% yesterday, even with the market flush, allowing it to close within the triangle. Right now I am expecting to see a breakout to the upside and a PT of ~160 as the LOW on the breakout. Positive signs: 30 week MA breakout several weeks ago, and...

btwice53190

Wow, where do I begin on this one. It is my favorite dip buy out there right now. I posted a chart a few weeks ago with a bear count of square and what do you know, it is materializing for us to get our hands on these shares dirt cheap. Right now we are looking for our wave 2 bottom, somewhere between the mid 240s and the 220 range. 220 appears to be the...

btwice53190

I see a ton of wave theory charts that show PLTR still correcting and possibly going sub 20 again before the real ripper. Although valid, I am not favoring that count. PLTR is one of my favorite set ups right now. It has been holding up well during this sell off, and I expect that once the market correction finishes PLTR is going to be a leader and will be...

btwice53190

Any bulls left out there? Hard to be after Fridays price action, but we have seen some crazy reversals last few months, so another rally wouldn't surprise me one bit. The bulls need to hold the 444 range for this wave 4, from there we see a 5 wave move to the upside taking us to the 460 range where the primary wave 3 will peak. At this point both this and my...

btwice53190

Should see a 3 wave move to the upside from the 1-1.618 extension level for wave X. SPY should get rejected within the green channel, and that is the ideal spot to go short for wave Y

btwice53190

Two scenarios possible here: Bull Scenario: As depicted we are turning down for a wave 4 before the finishing rally for the primary wave 3. If this is the case then we could see bottom between 447-450 and this is a BTD situation Bear Scenario: We just had an ending diag (shown with white trendlines) and we already just had our wave 3 top. From here we are...

btwice53190

BA clobbered again today. Right on Trendline support. Max pain @ 220 for the Friday exp. Delivery #s due. Could easily see a run up into end of week + launch if good numbers. Trade idea: Calls all on sale. Get multiple w/ time, scalp some for quick gains if we rally into Friday and let some runners go for the numbers. If trading this cutloss beneath 209.5.

btwice53190

QCOM looking to breakout of a symmetric triangle for a intermediate wave 3 of a primary 1. PT will be ~160. Support: AVWAP and 30 week MA curling support below Resistance: between 149-150 is last major resistance holding back the launch to 160 How to trade this: Right now we could still consolidate until early October. Create trendline break alerts and...