FiboTrader1

FiboTrader1

NVDA is almost to the end of Wave 1 of Wave C. From there, NVDA will climb to as high as 122 - 130, before starting the biggest sell off in October or November.

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SPY finished Wave 4 down and is starting Wave 5 Up. Price Target 568

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Walmart can go as high as $78-80 before correcting. PT 67

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Seeing that Wave 1 was an $18 move and Wave 5 typically is the length of wave 1, I am revising my upside target to $141 from $136.

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AMD finished Wave 4 down and is starting wave 5 up. PT 166

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META has ended Wave 4 is about to start wave 5 up. PT 546

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QQQ completed Wave 4 down and expecting final Wave 5 to place QQQ at 490-494

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TGT is about to end Minor Wave 2 of Intermediate Wave 3 of Major Wave 5. Earnings will bring this stock down to between $123 and $109 for the end of minor wave 3 before a small bounce into minor wave 4.

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TSLA has been camping in this wedge which began September of 2022. It is currently in the dead center between resistance and support of this wedge, so I am looking for a direction towards either of the lines drawn for the opportunity for a breakout. I am currently long term bearish on the market, so I'm expecting a move to the downside support and a potential...

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NVDA has developed the most clear wave structure of the stocks and indices I follow, so I'm using NVDA as a standard for the overall market wave structure. Wave 2 is an ABC pattern on the 1HR with A finishing at 108.80 (Aug. 7), Wave B at 98.69 (Aug. 7) and C finishing around 127 (if not finished). I have calculated Wave 3 or 5 (depending on the length of 3) will...

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Eli Lilly is the one stock I've made the most returns on this year. With it's violent up and down swings, it's exactly what you look for as an options trader. As I've been observing LLY over the last few weeks, I decided to go back in time again to the origins of this monstrous parabolic move and share it with you all. If you look at the smaller time frames, you...

FiboTrader1 Updated 

AMD is having fighting against resistance at $140 and has a very clear wave structure. Wave 1 began March 8 and fell to $142 where Wave 2 began. Wave 2 ended on July 15 and and wave 1 of 3 ended on July 30. I believe wave 2 of 3 has ended (or is close) and wave 3 of Wave 3 is about to begin. PT 1 is 109, PT2 is 88. This upcoming wave will see the most selling AMD...

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Earlier in the week, it appeared that we were preparing for a Wave 3 down. After this sharp V shape recovery, I am changing my stance. Instead of a wave 1 and 2 completion, I'm seeing this as an ABC corrective wave. The movement from Aug. 5 until now is showing a completion of wave 3 of wave 1 of wave 5 complete. I'm expecting a retrace for wave 4 to the 0.382 fib...

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I'm going through my previous posts and reevaluating my wave counts now that SPY is showing to be out of an ABC correction. I am changing my thesis on SMCI to have nearly completed Wave 4 up and we can expect a final Wave 5 down. Wave 5 PT 461-380

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SPY is approaching the 0.786 fib retracement of wave 1. For wave 2, the standard is 0.618, but can go much higher. The condition of wave 2 is that it must not exceed wave 1. With today's run-up, we see volume exceptionally low. This should sound the alarm for traders and is showing me warning signs of a very large reversal. I am anticipating the largest drop in a...

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META is overbought and is getting rejected from the resistance set in early April at 531. I expect a retracement to at least the 0.236 Fibonacci retracement of 510.

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NVDA appears to have completed 5 waves down for larger Wave 1 and I'm seeing a similar setup for SPY. If we are in Wave 2, we will retrace 0.618 or 61.8% of Wave 1 to reach a target of 124. We will most likely see a pull back around 119.

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After further analysis, I believe we have completed larger Wave 1 down and have began Wave 2 up. The reason for my change of my opinion is the current prices have surpassed the 0.382 retracement for which wave 4 should reject and begin Wave 5. I see Wave 4 of larger wave 1 ended on Aug 7 and wave 5 of larger Wave 1 ended later that same day. If we are in larger...