Goldtent TA Paradise

Dow Fibs

1. red label says:

   February 5, 2018 - 5:47 pm at 5:47 pm

   Any predictions?

   • North says:

     February 5, 2018 - 8:04 pm at 8:04 pm

     If Weed stocks and Bitcoin were the parabolic predecessors of the parabolic Dow, then it could go to 19,000, which is the 60 percent Fib. I have noticed that before a bull market tanks, you have the juniors going parabolic. Perhaps Bitcoin and Weed were like the penny stocks vis-a-vis the DOW and were sounding a warning. Just crazy speculation since you asked. Everyone is saying the DOW will go back to new highs. It has me wondering because so many “experts” are saying it at the same time. Watching.

     • North says:

       February 5, 2018 - 8:06 pm at 8:06 pm

       Also, since the 50 MA on the DOW daily has not held, it would seem that the next level of support would be at the 200. But who knows in these crazy times?

     • pedro_deleon says:

       February 5, 2018 - 8:25 pm at 8:25 pm

       “Everyone is saying the DOW will go back to new highs. ”

       The EW folks are split on that score, unfortunately.
       B wave off 09, with more to go. (eg Sam)
       5 up from 09, ending larger 1. (Strunk)
       5 up from 09, done and new lows below 09. (EWI, Dan)

       At this point, it’s difficult to same until this decline ends, and we see the nature of the retrace. If the decline ends, and if we GET a retrace. The bull never retraced, so why should the bear?

       • pedro_deleon says:

         February 5, 2018 - 8:26 pm at 8:26 pm

         should be “difficult to say”

         • red label says:

           February 5, 2018 - 9:25 pm at 9:25 pm

           I’m going to have to study EW, charting that can never be wrong because you just go back and change the count to what fits doesn’t seem tradeable? I’m sure it works for yourself but how can 50% of your peers say otherwise? Just an uneducated observation of EW from the sidelines? Do the initial moves prelude a larger move so you can be wrong and still correct you’re trade to the profitable? Where do you find good EW 101 tutorials?

           Thanks PD I read all your posts but most of it escapes me.

         • Fullgoldcrown says:

           February 5, 2018 - 9:46 pm at 9:46 pm

           On this we agree Red…I can’t make EW work for me….Chartology is Black and White…but Elliot Wave is 50 Shades of Grey

           🙂

2. JamesBrrando says:

   February 5, 2018 - 9:18 pm at 9:18 pm

   Futures getting smoked again.

   ES 2542 low (330 points off the high less than 2 weeks ago)