There has been some discussion in the chat recently regarding long term U.S. Treasury Bonds. As part of the Chart Wizard Trading service, I personally count this chart and offer my opinion on it. I do this for multiple reasons. Firstly, Bonds are generally safe, as long as you know when to be in and out, you have a wide margin for error without making any catastrophic mistake. … [Read more...] about Long Term Bonds Have Arrived
The reaction down from the medium term high at $126.39 subdivides as a double zigzag. Giving confidence that it was a corrective move and not motive. The reaction from $78.87, the end of the double zigzag, subdivides nicely as an impulse. In the near term, a impulsive channel has broken in a decline which is expected to subdivide as a zigzag. The guideline of the previous 4th … [Read more...] about A 50% Trading Opportunity for Solana
Ever since the high on December 28th, the tech index formed an impulsive move to the downside ending on January 5th. The 15 minute chart below represents the bearish outlook. An impulsive wave containing a third wave extension with satisfying alternation between the second and fourth waves. The retracement, as of this writing satisfied the depth guideline for a second wave, … [Read more...] about Nasdaq Futures: A Critical Juncture
I was forced to relabel my interpretation of the Russell 2000 after the July 2023 high was broken. The structure is now labeled as a regular flat primary B wave correction that is either complete, or nearly complete. The next wave down should be rather fierce, as C waves tend to be. Wave C will decline in 5 waves to meet the depth guideline near the terminus of the previous 4th … [Read more...] about Russell 2000 B Wave Flat Correction Near Complete.
As mentioned in yesterday's post, the low for the dollar had to hold. It wasn't long before the index crashed through the low putting into doubt the long term count we've relied upon for over a year. The next probable market action on the daily chart sports an impulsive A wave down from the September 2022 high. The index spent the time between February and October 2023 carving … [Read more...] about The Dollar Invalidates a Bullish Structure