AMAT has had these ridiculous sell offs multiple times only to make a new highs 14 days after bottoming out at the trendline. Kinda silly, looking like easy money. Loading the boat with 9/3 call options. I don't know who is pulling the strings of the market but it looks like a damn bot. AMAT new all time high September 1st.
The dollar missed a new low to complete a clear five wave structure with all the subdivision in place. Calling a rally from here, for at least 8 (50% retracement from the top) -10 (61,8% retracement) figures up. This means EurUsd will retrace accordingly, leaving a top today
Following our previous post, it looks like "later" was the answer. (b) wave was short, even shorter on cash index, but second waves are usually sharp and shallow, so it hadn't time to develop a "textbook style" b.
We approched the most likely stopping area, between 50% and 61,8% retracement. Our feelings is that it will try to reach 61,8%, surpassing the previous...
A three wave movement followed by an up impulse of lower degree. It's enough to give us a likely trend change and a low risk entry: stop loss is little below 1,1780 and target is above 1,1880.
Last movement looks like an expanded flat: the move from 1.1833 to 1.167 is made by a sequence of three waves impulse - correction - impulse. Having surpassed the previous low, the best way to look at this three wave sequence is as a B wave of an expanded flat.
So we are at the end of wave C of this flat: trend should rapidly change and bring the cross under the...
Last spike at the opening bell should mark at least a local high, completing a more ample ending diagonal and an impulse from Sep25th low.
Short with tight stop at 6045.
