As mentioned in my previous 2 published ideas on SPX recommending shorts, SPX has now hit the ultimate target.
Since my last call for a "long then short", I believed the opportunity to short SPX is here in the sense that the risk-reward is now too favourable on the short side.
Based on Fibonacci extension levels projected from wave 1 and based on start of wave 1 and start of wave 5, we have a convergence at 5088. However, take note that given the risk-reward, now it is better to prepare for short rather than trying to catch the last few points of long. Thus, this is a short call.
The original idea of long and bullish explosive up move HAS NOT changed. It's that now I expect price to move down slightly more before moving up.
I am expecting an ending diagonal and then an explosive move up. This is the time to LONG!
As can be seen on this chart, I have extended the fibonacci extension and this time the target is hit. Short.
I was too early in my previous call and was wrong (linked here), but this time it should be obvious that it has ended.
AAPL has slightly overshot a fibonacci retracement level but I think this is now time to short it.
Over in this video, I go through how I plotted the Elliott Waves down to the subwaves and how I used Fibonacci extension levels to get a target of 18000.
Preference for wave 3 to extend. Using various fibonacci extension levels, I would imagine that HSI will ultimately move down to 14480 around 2nd Feb 2024.
1. End of Triple Combination 2. Ending Diagonal 3. Z=W 4. Ending Diagonal =1.618A
Please note that the last 20 seconds of this video is me trying to figure out which tab is my recording on in order to stop the video (LOL). Anyway, this is an update to HSI and that I expect it to fall even more this coming week. I expect the trendline to break and move down to ultimate target of 15000-15100 over the next 2 weeks.
This is gonna be a bold call. I think SPX will fall by more than 100 points in a single trading session (that is, today). See my chart for stop loss and take profit.
Firstly, apologies for coughing around the 8th min (too much chocolate). Basically this analysis builds on top of the HSI and China A50 analysis that I've done previously and that I expect Tencent to move down to $246 and hits the lower channel line as well as 1x of wave (1) distance by 2023 year end.
I expect BYD to fall to $166.8 given the following: 1. Price fall before trendline cut = price fall after trendline cut 2. Fibonacci extension level of wave 5 (of C) = 1.618 of wave 1 (of C).
This is just a potential bearish count where the movement up is considered a corrective wave. However, due to the strength of the impulse moves up, I will recommend that if you short, put a tight stop.
This is a quick update on NK225. I think this wave up is a wave C of 2 and thus it cannot be sustained.
If there is one type of stock that will never see recovery to all time high, SE's chart will be one of the top candidates. Also, given that the stock has not seen recovery even though the entire US market was in the year of asset bubble, it can only mean that when the general market comes down, so will SE. Using a very basic measurement rule, if SE breaks $35, I...