Loading ...Market should correct here
Here is a weekly chart from Elliott_Trader. A link to his site with more charts is here
http://studyofcycles.blogspot.com/
The EW debate for the most part is whether a major wave 3 or wave 5 is concluding but in any event a correction is likely now. A five wave pattern on TZA has not formed on a small time scale so there is no buy signal in the inverse ETFs yet. However based on proximity to EW targets and other indicators IMO we are close to a sell off here.
Joe does terrific work from an instructional standpoint.
See also FibboSR via twitter.
I do my own thing, then try to link it up with someone’s EW.
Right now, nothing is tying up cleanly.
That isn’t entirely surprising as most EWers are only still looking for corrections to the bull here (aside from Dan). My system will recognize a corrective move as such, but not their impending size. So it won’t distinguish a minuette iv from a minor IV.
Bad enough to have to endure this much patience since the Shanghai Accord.
Even worse when there seems to be no end to it.