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
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Bitcoin at or Near a Top
The two nano counts remain unchanged for 10 days. The top count is short term bullish indicating the need for a final last gasp in wave 5. Subminuette wave 4 ended as a double three zigzag to flat combination. The bottom count is long term bearish, indicating a top exists and Bitcoin will continue an impulsive decline imminently. In the bottom count, subminuette wave wave was a … [Read more...] about Bitcoin at or Near a Top
Make it or Break it Time for the Dollar
This is the last chance for the dollar index. The current low must hold or I will be forced to label the move down from the high as an impulse since a quadruple zigzag does not exist. If so, 5 waves down can only be the beginning of something mush larger to the downside. Up to this point the decline could be labeled multiple ways, I've only labeled it as a triple zigzag because … [Read more...] about Make it or Break it Time for the Dollar
Early December Micro Count Muster
You Can Still Turn a Profit and Be Wrong
My last analysis for Gold assumed an expanded flat was going to play out in order to create a wider base channel. Gold had a different plan. I’ve said it before and I’ll say it again, you can only take what the market is willing to give. The market doesn’t care about your plan, and the way this structure was played is a perfect example of turning a profit while also being … [Read more...] about You Can Still Turn a Profit and Be Wrong