wolffarchitecture

wolffarchitecture

No catchy tittle, just a triangle correction idea to ponder. Currently only in market lightly holding more longs then shorts, but taking profits and planning on moving more into short. will manage positions either way market goes. Plenty of minor news excuses tomorrow and notorious thanksgiving holiday short week. so risk is elevated and not seeing huge upside...

wolffarchitecture Updated 

There is a meaningful RSI divergence building PLUS There appears to be a confluence of trendlines and previous highs. It would be reasonable to expect a bounce

wolffarchitecture Updated 

A this point Cyan and Yellow are both possible. Long-term Thinking we are midway through a large monthly flat A-B-C correction (which will wear on everyone's patience). Short term thinking the yellow path is a bit more likely and oddly enough the yellow path will ultimately yield higher prices before market has a major larger degree drop.

wolffarchitecture

Yellow is Still primary count, CYAN Secondary. Market is in an area of Elliott structure where it is not very efficient use of ones time to count it ... ALL will be clearer in 2-3days , supply will slow any upward rise, letting things sort themselves out in the next season or two. My personal plan is to trade the YELLOW path, but If CYAN path prevails will...

wolffarchitecture Updated 

Title says it all, After Amazon crash I expected a more bullish structure with a wave B lower before going higher reaching above 4,000. But the Fridays (hedge fund market mechanics) short covering/ squeeze quickly invalidated that. Therefore what we have left is 4 medium sized waves to the upside and I suspect we will have one(1) more (5th wave) completing...

wolffarchitecture Updated 

Thinking we may still have one or possibly two minor waves in the tank left for this initial wave A , which will create an RSI divergence (in lower time frames) and initiate the B wave lower ahead of the chairman speech and rate hike. Thinking a capitulation crash before election is unlikely. Politically the FED will try to take the high road and moderate their...

wolffarchitecture Updated 

NAS main count looking weekly bullish, building support on key levels with additional liquidity. Expecting a interim correction Wednesday(flat)/ Thursday(lower), then most likely up (weekly long). Could be wrong and we have another wave-5 down , or a B-wave down . If it does go lower there will be some good weekly buys There. Use manageable small positions but...

wolffarchitecture

(BG) GAS appears to be nearing the completion of a large flat A-B-C structure. monitoring for long setups. Looking for an RSI divergence and a low below 5.35 then start collecting/building small positions. The 5.00/4.65, .618 fib, and major yellow trendline price should provide support for a bounce. If count is off by a wave It could bounce before then so keep...

wolffarchitecture Updated 

We are now approaching confluence of trendlines and FIB boxes, and RSI divergence. There is enough going on here to warrant some kind of corrective structure. The two main counts are shown on the chart and IMHO YELLOW has a slightly higher probability. But the huge CYAN A-B-C is possible as well and we need to keep considering it. So far the structure is...

wolffarchitecture Updated 

for clarity this is my main count on the actual SPX. Expecting a bottom soon near the previous lows

wolffarchitecture Updated 

Not sure WHY, not sure "HOW" all the market "news" is wrong, and with the "don't fight the FED" herd montra repeating itself out there, I have to admit this seems very contrarian. BUT technically I am seeing the possibility that market may be very close to a bottom, which could result in a meaningful bounce or rally or short squeeze...whatever. I divide the SPX...

wolffarchitecture Updated 

Personal trading plan for the next few weeks will change if necessary. There are several reasons why I think market has a higher probability for a upside rally before we descending to major all time lows Midterm long, long term short.

wolffarchitecture Updated 

Be patient and let the market come down to you. 1st Market Makers will collect all the long stops sitting underneath the daily corrective lows them price up the market for Wave-2. In an ideal set up markets will open low tomorrow then turn around and end up, which will continue into Monday. An undesirable set up would be market open higher and just push up...

wolffarchitecture

Less optimistic the SPX has power reserves to rise above the 200-MA, therefore I'm thinking the likelihood of a wave(c) of B) is slim. and the unfathomable likelihood of market switching to a bullish trend (before making a new yearly LOW) even less. Having said that, indicators suggesting a 3.5-4.5% bounce may be happening or may happen (no guarantees) ... BUT...

wolffarchitecture Updated 

When the dollar make major moves (we all know its been skyrocketing) the printed price evaluations on the SPX is can be distorted relative to the actual underlaying sentiment and momentum which is hidden/obscured by the dollars radical moves. We can check this and remove the dollar effect on the SPX by dividing the SPX by the dollar. We can now see the actual...

wolffarchitecture Updated 

DXY is bullish no question and we may ultimately reach 116.5. But thinking we need to have a wave-4 rebalancing before then. Not sure when or why just looks right. We still are yearly/ monthly bullish, but a retest of the 103.50 (.382 Fib retracement) would be VERY normal.

wolffarchitecture Updated 

This post is personal. We all have strategies on trading and the most important things for any trader in my opinion is to finally discover his/her strategy which suites there emotional temperament (pessimist / optimist). intellectual capacity ( children with a few simple rules trade better then many seasoned smart adult analysts/ proven back-testing results) , and...

wolffarchitecture

SPLV helps to take out the noise. At this point we could be BULL or we could be BEAR. Leaning toward BEAR but you can't rule out BULL. IN this kind of situations its always good IDEA to Keep you eye on the LOW volatility stocks (ETF) IT usually prints waves the clearest. >What we see is a clear downward price channel and we are VERY close to hitting the upper...