iamthewolf

iamthewolf

Couldn't be a happier New Year for the bulls as wave 5 surpassed expected targets. A healthy pullback is in order before the bulls celebrate even more. Retrace levels have been adjusted to reflect reasonable areas of support. They are cautionary for bears who are daring enough to act on any decline.

iamthewolf

Happy New Year Crypto followers. Here's a perspective for the New Year's weekend using Elliott Wave, Fibonacci and a watch for RSI. Enjoy the holiday!

iamthewolf

Warning: I don't follow Bitcoin, but like many others I'm intrigued. Here's a quick and dirty Elliott Wave review along with Fibonacci grid and some trend guidelines. Looks like the retrace of Friday's drop has already occurred. Will it only retrace and retest the low or blast to new highs? Worth watching....enjoy.

iamthewolf

We know it is the end of 2017, but what else? The streak of less than 2% (or more) dips, consecutive monthly gains, lower volatility and instant reward for the BTD'ers will end - but when? Expectation has been late Dec17 or early Jan18 for some time and now we're there. Any significant part of a decline is expected in January. No need to call THE exact top....

iamthewolf

With so much focus and energy on the passage of a tax bill it is natural to inventory winners and losers. Sure enough, the market will play that game, too. The march to new highs continues for bulls, but the time for inevitable pullback is nearly at hand for bears. Yes, something for everyone in the bill's passage as both bulls and bears contemplate what's...

iamthewolf

This week follows last week's path to a re-test of recent highs. Patient bears are watching closely. The wider window starts for a pullback in the back half of December through mid-January. This long anticipated move is nearly at hand. However, further advances are expected and there is no time for being complacent. Estimate is 12/15 through 1/15 for the...

iamthewolf

Last week's price movement carried valuation higher than expected. Exuberance on 11/30/17 turned to fear on 12/1/17. Yes, volatility is back. Whether you're brave or cautious there is much to consider with tax bills needing reconciliation, talk of shutdowns in D.C., and investigations in progress. In short, enough to shape day-to-day price levels. However,...

iamthewolf

With low volume and a shortened trade week behind us the market shifts focus to ending 2017. Technical setup still reflects topping process as bears patiently wait for their moment. News events may shape near term market moves, but will not impact overall market trends. A pullback will prove healthy for further advances in early 2018.

iamthewolf

The odds are lining up against the bulls. They may see a holiday cheer with a kiss of 2600 if lucky. However, the pullback from 2597 is incomplete and Bears are preparing for their feast. Continuing last week's issue the pullback is underway for an eventual total of 2-3% from the 2597 peak. Elliott wave count, a Fibonacci level of 1 from the the 2/2016 low, a...

iamthewolf

Time for a pause of the upward trend while the Bears to welcome cooler times. Their romp will be brief, but I expect their volume to be loud. A pullback of 2-3% has been long anticipated and is finally here. For the Bulls it provides a breather before the next advance. A much larger tussle is ahead in Dec/Jan. For now, there is something for everyone.

iamthewolf

The long expected correction process is anticipated to start in mid November. Look for wave 5 to complete at/near the channel top. Reasonable expectation is the 2622 level. A correction from there down to support at 2544 would be almost 3%, which fits the expected magnitude. A further struggle follows with a rebound and then another pullback as 2017...

iamthewolf

Taking long weekend away from market and publishing on Friday afternoon. Great day for the bulls, but... The waves and channel that have been so favorable begin to turn and the patient bears will return soon. The small drop on 10/24/17 was only a trial for what is ahead. Once Friday's move is exhausted they'll return, but with greater success. May be a 2-3%...

iamthewolf

Quite a run up through October. November season favors the bulls, right? Maybe not. For now Bulls are in charge, but a couple of bumps are just ahead. Bears will likely get trapped if they jump at the first opportunity.

iamthewolf

Trend is still up as market climbs worry wall. Bears will have a few brief moments, but will likely be disappointed. They'll have their day in November at an unlikely seasonal time. Perfect for a trap and further advance upwards. Near term corrective waves are lower level and of less significance for now.

iamthewolf

Bulls are in control and should remain so, but only after a couple of days for the bears to stir. The latter will get their chance in November and must remain patient.

iamthewolf Updated 

Very impressive advance continues and may reach 2550 before a pause. It'll be just that, a pause, as further gains should follow. Will look for long entry after pause and may try brief short in 2550+ area.

iamthewolf Updated 

Slight changes to last week's report. Expecting pullback from run started at 2417, but trend is still up. Bears may get excited, but should be disappointed as up trend continues. For trading I'm positioned short as of 9/29/17, but don't expect to be for long. Will swing to long position once pullback ends.

iamthewolf Updated 

Recent move sideways allows for build up of buying power for next bullish move, but not without drama. Danger lurks for bulls and bears, but the bulls should prevail after some up/down moves. I'll look to short if we reach 2515-2520 and then get long at 2480 or lower. Same plan as last week where I thought this would happen near 2506. Went short and...