yuchaosng

yuchaosng

I haven't updated Russell 2000 in a while since I suggested the triple combination and a short. Nevertheless, here's the updated wave counts since then and right now I see another opportunity to short. As you can see, the stop is above recent high. However, I also put in a note that says to be ready for a z-wave. Meaning the small upmove recently could be a wxyxz...

yuchaosng

Following my warning about Hang Seng on 2nd Oct regarding Hang Seng reaching an important price point, I have yet to publish another idea about this index. One of the reasons is to let the dust settles, the other is to observe what is happening in the US markets. Now, I am convinced that the US market will be going down and it will pull global equities with it....

yuchaosng

I have updated the wave counts for Nikkei and based on this new wave count, we are going into a wave 3 down. The old wave count would also be a wave 3, but I think this is a cleaner count.

yuchaosng

I've updated the wave count to an old wave count for the previous upmove till mid month and the subsequent rangey move as the new wave 1 that is a leading diagonal (note that this was the original wave count until I changed it somewhere in Q3 of this year to cater for a potential strong down move, but the move up since 10th Oct has invalidated that count and this...

yuchaosng

My latest analysis shows that Nasdaq has one more leg to go. And based on my analysis, the target is 20689-20690 (Oanda CFD price) and the estimated peak will be reached on Tuesday, 29th Oct afternoon session. Professional traders may go long first to capture the last 180 points before going short. A stop loss of around 100 points should suffice to invalidate...

yuchaosng

Following my previous idea to short that somehow played out perfectly (a rare occurrence), I'm not calling out another short with the updated wave counts.

yuchaosng

I had thought that I was wrong when nasdaq broke new recent high. But the strong reversal on Friday made me relook at the big picture again. It's still a truncated 5th.

yuchaosng

Following my previous NVDA call, here is the updated wave count.

yuchaosng

I had just call for a long and got quickly slapped by the market with a strong reversal. This forced me to recount the entire move as shown here. I don't like it when a potential 3rd wave has such a strong sub-wave 2, which is why I called for the previous long idea. But since the move up is already invalidated by the strong reversal, I have to revert back to the...

yuchaosng

Since a new high is reached, I have to drop the original idea of a crash and call for a melt up instead. For if the move down is not a wave 1, then the entire move from 6th Aug to 17th Oct is a wave 1 and this new high will mean we are going into a wave 3.

yuchaosng

I have been calling for shorts recently almost like a permabear. However the recent move up made me realize that odds have changed. The truth is, when I'm wrong, it's usually super profitable to flip side. Meaning, this is potentially a melt up coming. What this means is that the move from 5th Aug low to 17th Oct high is just a wave 1 and the recent shallow move...

08:08

yuchaosng

Disclaimer: I did this analysis with a strong bias that the market is overrun and purposely look for a bearish case for NVDA since it seems to be the one stock that is forcefully pulling the indices up. All other usual way of analyzing waves will give NVDA a target above $153. In this analysis, I gave the following points: 1. On the weekly chart, we can see a...

yuchaosng

Following my previous idea on the S&P500 completion of 5-waves (updated here in red), I've updated a 5 wave of a lower degree (in green numbering) and then we have an a-b-c of the same degree (also in green). At this point, we can clearly see that there is a breakdown of a purple trendline. This is a longer term trendline. There is also a shorter term trendline...

yuchaosng

Price has moved horizontally since my previous short call on this index. The movement has formed into a descending triangle and as we moved into the apex, we might want to look at entries from the descending trendline or the breakdown trendline (2 red down arrows). A short-term stop loss around 39420 will trigger a review of this idea.

yuchaosng

There are 2 ways to look at the wedge that has formed: A truncated 5th wave that ends in an Ending Diagonal, or A W-X-Y-X-Z triple combination retracement. Side note: To be honest, had the wedge not form in 5 waves in the sub counts, I would really prefer for option 2 to be a “triangle”. The nice thing about this is that no matter whether it is the 1st...

yuchaosng

This is definitely not the best risk-reward idea that I've published but it has a nice wave structure: 1. Wave 3 = 1.618x Wave1 2. Wave 4: 5 wave triangle 1st Target: $140.04 2nd Target: $120.30

yuchaosng

Based on yesterday’s move where SPY opened with a new high, I have did a slight modification to the wave count such that I merged the previous wave 3 and wave 4 to become a single wave 3. Note that I do not really like this kind of action and shows bias on my end for preferred wave count. In order to do this, I will have to restudy Fibonacci relationships to...

12:43

yuchaosng

I analyze a few stock markets and gave me opinion on why I think the global stock market is going to turn down. Pardon the incoherent talk near the end.