- We have not reached the 1600 SPX target and has not even broke the all time High in SPX near the 1578 level.
- Todays move was impulsive.
- Our Mid-term indicators the past few days reminded us that we were on a down trend even when we made higher highs.
- We broke some lower trend lines in a minute level.
The questions we ask ourselves:
- Are the bulls hopeful that we will test the highs once more, but will never come?
- Is this impulsive move a part of a wave 1 to start a new trend?
- How does this Elliottwave pattern look if we are expecting higher highs from here.
- How would it look if we are starting a down trend from here.
Analysis:
This chart shows what the count would be like if we were expecting higher highs... (BULLISH)
This chart shows what the count would be if we are expecting lower lows to start a new trend...(BEARISH)
Our stance is still that regardless of EW patterns, our indicators show a downward bias and we won't look for higher highs even if we believe it to be so until our indicators turns up.
man, you post such a nice blog, but so few ppl comments here.....
ReplyDeleteanyways, ive sold my vix today, will awaits for tmr's action
i believe from now on, the job reports would be as ugly as it will gets
https://www.tradingview.com/x/mRB6Qcfj/
ReplyDeleteinteresting prediction by some chinese dude
I like it this way.. quiet. I notice I get alot of traffic, so my guess is that they like my analysis and don't need to complain lol. I just hope someone is not anal enough about grammar mistakes.
ReplyDelete