Y'all gonna get rekt shorting this. Wave 5 underway. Might get another dip the next few weeks and then off to the moon. Targets based on various EW counts.
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7 Months later and 24% higher we are in an interesting area. Fairly straightforward here though. Weekly break of 16K (NQ) with volume and we continue to targets as outlined in February soon. Alternatively, breakdown and enter a corrective C wave. No need for targets there yet as this would take a while to play out (however, areas of interest highlighted). Direction will be clearer next week subject to dot plot and broader Fed guidance. Rates sideways will be good.
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Targets remain in play. Ignore the noise until you cannot.
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Ignore. The. Noise.
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It's getting very noisy and it might be prudent to pull the plug soon. Close monitoring.
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Happy new year. 460 sounds reasonable.
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Long time no update. Simple from here. Break 445, and next target shall be 465 or 504. Presumably the event that matters here will be Nvidia earnings. I could imagine hitting 465 before earnings and we collapse on disappointing results. This scenario is low to mid probably given conflicting stochastic on the daily vs weekly. If we cannot break the previous high, bull market is over for me and I will move to 90% short.
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Clean break on lower CPI yesterday. Higher unemployment tonight might push us to the next level, or we gap fill down. From here I am switching into cautious mindset.
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Adding to the above, Weekly FVG sits at 369. We will come down there, it is just a matter of when.
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I bought puts yesterday exp 7/14 Jun - full protection.
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455 seems to be a major hurdle. 437,428 seems like a reasonable pullback. IMHO, we are in the 5 and yes, we might blow out higher one more time but this is getting very toppy, even with the AI narrative. Longer term targets on the downside below. I have been bullish for a long time when others were not but there is a time to consider gloom and doom scenarios, and that time is coming.
Simple EW channeling with extension scenarios.