We can count a huge (A) up, (B) down, (C) up move off the lows of 2016 as a completed wave (1) up: Wave ( 1 ) up topped in August 2020. Off that top GDX declined in a large corrective (A) down, (B) up, (C) down structure of wave…...
This morning I shared a wave count that considered the rally in ES-mini as the final subwave e of a corrective pattern called the “Expanding Triangle” or a “Megaphone”. This afternoon ES has hit the Red Target box and stalled: For swing traders bears need to wait until ES drops…...
In the previous macro update we noted that Bitcoin needed to drop lower to complete a macro corrective structure. On a micro level that drop was supposed to start upon completion of a corrective wave ( ii ) up structured as (w)-(x)-(y): Ideally it should spike over the top of…...
This rally looks like a textbook subwave (c) in a corrective (a)-(b)-(c) up structure.Sometimes wave (c) up has a clean five wave up subdivision. Sometimes, like in this case, it comes as a spiky move with indiscernible micro structure.So far it has hit the target 1 at 138.2% extension of…...
When price goes up in a straight-line without pullbacks that is a sign it is driven by forced liquidations of short positions. That is a sign that we may be dealing with a corrective bounce: Only recently we had three similar dead cat bounces that did not have follow through…...