maikisch

maikisch

The relentlessness of C wave decline or advance is always impressive to observe. This is best viewed on the SPX weekly chart. Now the above chart is an hourly chart...but suffice to say when I say "Today has to be the day!" that's because we're getting dangerously close to losing positive MACD divergence on the Daily chart. First and foremost, trader proponents...

maikisch

Today we came into the wave 4 topping area just shy of $75. My primary expectation is we head down in 5 of c of C of 4. This is the last low as indicated on the chart. Now I must call to your attention a potential situation to keep your eyes on tonight and into tomorrow. If we do not make a new low and instead go higher tomorrow and SURPASS $75 impulsively...

maikisch

In yesterday's Evening SP500 Update I posted: "If tomorrow we make a new low, I'm thinking it will be nominal." Today we made a nominal new low but closed green. Tomorrow we need to be in rally mode and make progress towards our first clue that we bottomed. Today's low tagged my lower Fib Level on the nose in the target box and bounced. Let's see if tonight...

maikisch

When the SP500 opens this morning it appears we have a bounce in progress. Is this the bottom...We don't know yet. But Mr. Fibonacci thinks so. With so much Fib Confluence down in this area, I have to say I'm leaning more so towards a bottom rather than a relief rally. Nonetheless, confirmation is required so we will wait to see what price tells us. As of...

maikisch

When confirming bottoms, practitioners of EWP should look for patterns that are impulsive in nature that trade above key resistance areas. As of now I have no reason to think we have bottomed. This structure looks like it's needs a proper micro wave 4 and 5 to complete. This whole decline appears to be an extended 3rd wave. My alternative is we have bottomed...

maikisch

The SPX came down today just shy of the 1.0 extension at 3966. Nonetheless, the Fibonacci 1.0 extension is a perfect place to bottom. If tomorrow we make a new low, I'm thinking it will be nominal. Attached to the above chart is how we confirm our bottom. The 3rd and final will be updated later. Let's hope we're back in rally mode shortly.

maikisch

Today we continued to extend in our wave 3. Extensions are not uncommon but since this pattern initially looked like an ending diagonal I know it's caught a lot of my followers off guard. Based on our Fibonacci extension tool we should rally to the 1.0 around $75 and then decline one last time to as potentially low as $51. I do not see this going further. ...

maikisch

Bottoms typically reverse and continue when most are still looking down. Today's open looks decisively red. It's a Monday. Perfect day to turn things around. IF THE SP500 IS IN THE BOTTOMING ZONE...TODAY PRESENTS ITSELF AS A PERFECT EXCUSE.

maikisch

Technically we have enough waves in place to bottom at the very least in the short term. This week should provided all the clues needed to dial in when and how Solana bottoms. An initial sign would be a green close today. Best to all, Chris

maikisch

Please refer to version 2 for full explanation. This post is divided into 2 because Trading View does not allow to post multiple charts within 1 post. Chris

maikisch

In my original Weekend Update I stated... "Deciphering overlapping moves is a complicated exercise. Truth be told sometimes these patterns do not reveal their correct identity till there almost complete. As of right now I'm still expecting this bottom to complete in a 3 wave move. This "a" wave is a little long and had a micro ending diagonal to complete. I...

maikisch

Deciphering overlapping moves is a complicated exercise. Truth be told sometimes these patterns do not reveal their correct identity till there almost complete. As of right now I'm still expecting this bottom to complete in a 3 wave move. This "a" wave is a little long and had a micro ending diagonal to complete. I like to count waves in as simple a fashion as...

maikisch

All hope is lost. The Federal Reserve has lost control of inflation. Interest Rates are the highest in Decades. The Stock Market is un-investable. To me, these headlines are the sound of music. The stuff bottoms are made of. Let's take inflation and interest rates. The newer generations of stock market traders have never had to learn the lesson of " Mean...

maikisch

Quick Midday Post to update my followers. This final leg down appears to have been a micro ending diagonal. Still needing a "b" and "c" down. Need above $84.50 to confirm we're in the "b" wave.

maikisch

Solana did make a minor new low last night to cap off the completion of our "a" wave down. We are now looking for a 3 wave advance. Ideally this advance would reach $86 - $90. We'll worry about the C wave down next week. (I have a sneaking suspicion it will be on Monday) B waves are meant to frustrate. So when you feel Solana is not showing it's...

maikisch

I'm going to start with more of a micro view to show you we are about to bottom. Now, if you're watching Fast Money on CNBC or Reading Barons, you're not going to agree with a thing I'll write tonight regarding the SP500. But this market rally ship is about to sail. With or without you. This is my first regular post on the SP500. I plan on doing an evening...

maikisch

I've feel like I've been writing about an impending bottom forever...but now we in the final squiggles. I can't tell you how many private chat messages I received earlier when SOL was at $95 - $92 about how I'm wrong and this is going to keep going higher. By 11am EST those message suddenly stopped..(lol). I try to remain price agnostic. I'm also a holder of...

maikisch

To those who follow me...thanks for the feedback last evening. I appreciate there are so many of you willing to spend your valuable time to interact with me as we think about ways to make our group better traders and expand what we all...