Back to the charts ??? (EW only)
“Each of these four scenarios is a viable Elliott Wave count at the moment, due to the topping process we are in.” says ET.
http://studyofcycles.blogspot.com/2024/01/viable-paths.html
For those who MINIMALLY grasp EW, the 1 down 2 up (we’ve topped) versus 4 down and 5 up (top is next) can be tough to read in real time. The market doesn’t stamp labels on price as it moves on. 2 up in bear can be just a few points below where 5 up in bull would be (lower high vs higher high). A triangle NOW would be “NICE, NICE, VERY NICE” to confirm where we are (a 4). That’s asking for Christmas all over, so soon after.
fyi, that second chart is the count I was remarking on a week ago, late that Thursday.
“That’s asking for Christmas all over”
? ??????????! (That’s Merry Christmas! in Russian)
Well, pedro, I got your wish! I’m having Christmas all over again. The Russian Orthodox Church celebrates Christmas in accordance with the old Julian calendar. So, today, January 7th, is Christmas where I am now. Merry 2nd Christmas to us all!
GoldBalloon
PS If you celebrate every day, it’s impossible to miss a holiday.
Merry Christmas! in Russian (cyrillic font) did not go through.
Enjoy your trips, GoldBalloon! And thanks for sharing them with us
Thanks for the update. Here is one chart, I’m currently watching. Unless it turns back up again after a while, always possibility, path of the least resistance, just may be lower for a while: (sometimes it works sometimes it does not) 😉
https://stockcharts.com/h-sc/ui?s=%24NASI&p=D&b=4&g=0&id=p36222692146
Yes, NDX is leading down so far. But banks are not following nor are the VOLs.
Not yet, anyhow.
Good points. Banks, which supposed to be weak links…
Edit, this chart is of course non leading, slow, non sophisticated and not that very reliable. Just a warning for all. But it does looks good 🙂
Speaking of inferences, how about HNS forming here?
https://ycharts.com/indicators/us_investor_sentiment_bull_bear_spread