Nvidia has moved higher outside of the standard retracements expected. Due to the overlap we could be either dealing with a double zig zag for minor B which is common, or this is a series of nested 1-2's in the purple count. If this develops into the purple count, this will sub-divide towards the $1,100 region. As of this morning I am expecting in the minimum...
Is it possible Nvidia can muster the strength to get my final higher target of $927? Possibly. But time is running out for the chip/GPU maker. A breach of the $880 level makes that highly unlikely, and that could be our initial sign we're now headed to the $700 area. Nonetheless, even if we do manage to get that OMH (One More High)...I still have price...
Microsoft had great earnings recently and after the announcement buyers rallied the shares...only to see that confidence 100% eroded as of today. What are traders telling us about Microsoft? My analysis shows a minimum target of $370 with a decent chance of seeing $343 or slightly lower in the coming weeks. Best to all, Chris
Nvidia has been weak as of the last month, after a major run-up in the stock. Since we have no catalysts on the short term horizon, I am forecasting a fall back towards $700. However, in the short term we can get as high as $927 before falling back towards my target of $700. To get this sort move in the stock I will remove the purple alternative path of the...
Bitcoin's long term chart retains a very bullish posture. Currently, I have the BTC chart having completed, or about to complete the first upward subdivision within a long-term cycle wave III, that could top the $1Million area per Bitcoin. Nonetheless, in the short term we are correctively retracing, and retain the ability to eck-out one more high, before...
Price has entered and exited the target box for this retracement. Although price could try to get higher in the target box, only a move that breaches the recent low of $830 will signal a confirmed top that could be long term in nature. Best to all, Chris
We tagged my long held target yesterday of $834, and now I'm of the opinion we get a corrective retrace targeting $902 before seeing lower. Best to all, Chris
I have long been warning that Nvidia was on a path to tag $834 for a while now, Followers of mine can search previous posts. I received a ton of criticism about my analysis...even ridicule at times. ...and here we are on the verge. My only question is do we get deeper into the target box? Best to all, Chris
I recently gave an explanation for b-waves that stated: Sometimes B-waves can be difficult to track as an Elliottition. B-waves, and wave 4's serve a very healthy, potentially complex, but totally rational role, in the advance or decline of price within a market place/security. They represent the competing viewpoints about the direction of a security and it is...
Nvidia is working it's way through a b-wave retracement and may get slightly higher before resuming it's downtrend towards $834 with a chance of tagging $753. Best to all, Chris
Nvidia has been retracting some of it's monstrous gains lately. To stay below the $946 area brings $813 into view as the next downside target. A sustained break of $946 should deliver a new high...however, this pattern higher looks very corrective. I favor $813 before new highs. Best to all, Chris
This wave 4 could take months, and retains the ability to be deep. Nonetheless, the Bitcoin chart is in a very low term bull market. Upon completion of wave 4, wave 5 can exceed $100,000 before primary wave i of cycle wave 3 is complete. Best to all. Chris
Off the Friday reversal (which was stunning over 100 points in range) I can now count 5 waves down in the micro timeframes. Whether this is a wave 1 or just an a-wave, we should get a retrace slightly higher before descending in a wave 3 or c-wave. On any descent, Nvidia needs to hold $770. A breach of $770 brings $647 into view. I am currently Best to all, Chris
In my last update on February 15th , I stated... "Bitcoin has developed a very clear upward trajectory that we have tracked all the way from $15,000. We are now in the target box for completion. The one caveat I have with my analysis is it is possible I was too conservative. The MACD indicator should be on negative divergence for completion and it is now...
That ole' cliche..."the faster something goes up...the faster it comes down". I am not ready to state with certainty that NVDA has completed a major top, but watch the price level of $599. Below that level and guidelines state that we're probably not dealing with a wave 4, which is my ALT count. Best to All, Chris
DISCLAIMER: THIS IS A VERY LONG READ . Monday is Presidents Day. In America, this is a day we honor 46 individuals who have held that office both past and present. Ask anyone who keeps up with current news and events, and they will agree, America is a politically divided nation. The vitriol, one political party has for the other, seems like it’s never been...
Bitcoin has developed a very clear upward trajectory that we have tracked all the way from $15,000. We are now in the target box for completion. The one caveat I have with my analysis is it is possible I was too conservative. The MACD indicator should be on negative divergence for completion and it is now showing we're on the verge of breaking...
I am not suggesting you short Nvidia yet as it has extended past normal fib resistance areas. If you have been following my posts on Nvidia, MSFT and the overall SPX500...it appears we have so many of the components and the index in the last squiggles of their respective wave 5's. I know the narrative about AI is exciting, and I cannot tell you what will change...