maikisch

maikisch

I have long stated that the upcoming earnings catalyst will develop into a sell event. When I last updated I was anticipating an incremental new high and possible double top for intermediate (B) into the confluence area of the larger and shorter term 100.0% fibonacci extension areas. Although we have exceeded that area for a double top, we're still in the target...

maikisch

Nvidia has arrived in the target box for our intermediate (B) wave high. Can we extend in the target box? Yes. However, two things are top of mind to this analyst. 1) The earnings catalyst mid-November is a "keep hope alive event". Therefore, I do not see big trader commitments prior to that. If we go up further into the target box...it will be an overlapping...

maikisch

We are now just a point from my long held target of a double top, in what I am counting as an irregular (B) of intermediate degree. Since price is behaving accordingly, I will not expand on what I have been forecasting for some time except to say that if shorting Nvidia in this area (as with any trade) make sure you are using stops...but best to wait for 5...

maikisch

As I have discussed many times previously, we are about to enter the stage where triangles typically will break apart. What will constitute the triangle breaking apart is for price to breach either our purple (a) wave high, or our purple (b) wave low. Price must continue to constrict to maintain the integrity of the triangle. Nonetheless, in my primary analysis...

maikisch

Cycles are a normal part of life. The stock market is no different. In my long term analysis we appear to be headed up to an area that can complete a rally that started almost 100 years ago. For context, this long-term consolidation will be similar to Japan's Nikkei index in which made no new high's for 34 years.

maikisch

With Nvidia breaking tp the upside of the target box for circle-b, that means if we continue to follow through in the Minor B wave, as I am forecasting, we stand an excellent chance to making new all-time highs on a very marginal basis . Nonetheless, this will still be part of the overall primary degree correction that Nvidia is involved in. Read my last post...

maikisch

Unfortunately we have as much probability of black or purple becoming the optimal count. I'm 50/50. Best to all. Chris

maikisch

With earnings out and traders not getting the normal reward of new 52 week highs, we continue to subdivide lower in a primary circle wave 4 that will more than likely not bottom until next year, possibly longer. A primary wave 4 will consist of an intermediate ABC, and each intermediate label will consist of a minor ABC. We're still working on minor...

maikisch

Last week's decline DID NOT BREACH THE APRIL LOWS . To be 100% objective, as long as price is above the April lows, we still retain the ability to make one more high. That is the purple arrow on the above chart. Price will need to breach 5587 in pretty much a straight shot now, as this would be a wave 3. However, that is not my primary analysis. My primary...

maikisch

Since I last updated you on the overall markets, price has retreated lower. (Click Here for the last Market Update) The Nasdaq futures contract (NQ) has declined a total of 10.76% whereas the SP500 futures contract (ES) has only declined 5.05% from their respective all-time highs earlier in July. Does the Divergence between the weakness of the NQ, and relative...

maikisch Updated 

Yes, we came within 19 cents of $111.33 which was my target....but if we can manage to rally now we retain the ability to make one more high as outlined in purple in the weeks to come. However, if we fail to develop a 5-wave micro impulsive pattern from the premarket low of $111.52 or even fail to rally, and continue to subdivide lower and eventually breach...

maikisch

I want to make something clear. I have kept a purple arrow on my Nvidia chart for sometime. Purple is the color I associate my secondary expectations, or sometimes referred to as alternative. Black is my primary. All that means is the pattern has more than one outcome given the current price action we have. In both cases, I expect price is to test the...

maikisch

Introduction Within the larger Elliott Wave community (of Elliottitions; practitioners of Elliott Wave Theory) there has been an ongoing notion, that is gaining in popular perspective, that the US stock markets are very close to entering a super cycle wave (IV)…myself included. However, from what we know of Elliott’s original work, which was based on social and...

maikisch

There's an old analytical adage that goes..." nothing confirms price action like confirmation ". Not too helpful in the short term trading sense, but in the larger picture perspective it sure makes a lot of sense. I can make a case based on where price came into the Fibonacci Retracement zone of the .786% for corrective action that got smacked down... has...

maikisch

Over the weekend Bitcoin has able to decline into the 1.0% A=C area target of $54,650 for Intermediate (A) and reverse. Below $63900 and price can continue lower into the target box. Above that price level and I will consider our intermediate B underway. This could very well take months to complete. Be prepared for a frustrating period of time.

maikisch

We really cannot say we have confirmation we're in a circle c-wave until we breach the circle a-wave low. So I will repeat, we have the minimum waves in place to consider circle b done...and could begin our circle c-wave descent. However, nothing states we cannot get back into our target box for a more complex circle b. The fact remains we also have purple wave...

maikisch

Price is now in the target box for our circle a wave and I am watching for the potential of a reversal higher in our circle b wave. To continue to leak lower could bolster the case for ALT purple wave 4 as price appears somewhat short term oversold. My primary is a circle b wave corrective retrace. Because of the sheer bullish of the long term chart, only a...

maikisch

Although having reached my target for wave v of 5, we do not have any evidence of a top in place as of today's trading session. In the days or weeks to come I look for a breach of $116 to give us our initial indication we've topped, with confirmation coming with a breach of $106. This would be a long term top. Best to all, Chris