It appears that S&P500 has completed five waves. It could go down to 207, the 38% retracement level of the Elliott wave started in 2009. A 61.8% retracement could take S&P500 down to 154 (see weekly and daily charts below).
Nearly a month ago on September 8, I warned the trading community that NASDAQ could go down to nearly 5000 levels. Please see my logic in the post linked below. That major correction appears to have now started.
Warning about a major correction:
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your...
This thing is in a perfect uptrend. Price is about to bounce off 30 EMA and start 1-5 Elliott wave cycle. We use Gann angles and Fibonacci extensions to capture it.
NASDAQ is in the final stages of the third Elliott wave which started at 6460 (dark blue). It appears to have already completed four minor waves (green) and is currently in its fifth leg.
Further, if you drill down, you would notice that the fifth green wave has also completed four minute waves (pink) and the fifth pink wave has completed three sub-minute waves...
USTECH 100 might go up in the next couple of weeks, when it reaches 7200 there is a risk of falling down to 7000 , if it breaks through 7000 it could potentially go down to 6800.
FB disaster waiting to happen! As Snap and Twitter rise, User hours drop on FB, Russian Scandal, News of CEO planning to sell $billions in stock and technical picture looking shaky under this week low of 178 where 100dma support and rising trend line is lost. RSI divergence is noticeable too. In the past a correction of anywhere between 15-25% have happened.....
As we all know, inside bars suggests a continuation of the trend or a reversal of it when forming on notable resistances/supports,
USTEC has continued its journey to the moon after the recent huge decline. Buying a stock after reaching an all-time high, after retracements, is alright. I've been holding two long positions for the past weeks with an open TP, and I...
