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
Impulse
Fibonacci Analysis Supporting a Bitcoin Top
We have a count to support Bitcoin having topped for the current major wave degree as discussed in the latest post. Whether that wave degree is a B wave correction or a second wave remains to be seen. Now lets take the analysis one step further and find some supporting evidence. The first aspect of this wave structure I will show you is time. Assuming a three wave zigzag … [Read more...] about Fibonacci Analysis Supporting a Bitcoin Top
Silver Member Exclusive
Introducing Silver to the BW Chart Factory. This chart only shows the smallest degree wave, but the assumption going forward is that this is the very beginning of the 3 of the 3 of the 3 of the 3. An elusive phenomenon in Elliott lore that you don't want to miss. The video quickly explains the macro structure but I'll summarize the micro structure here. You are looking at a … [Read more...] about Silver Member Exclusive
What’s Up with the Nasdaq?
We are going to look at the full body of work for the tech sector. We'll start with the Nasdaq micro count 1. This Nasdaq E-mini futures chart suggests a 5 wave diagonal wave 1 completion followed by a wave 2 retracement in the form of a zigzag. Evidence supporting this count is a deep retracement of wave 1 that has already met the retracement guideline of the previous 4th … [Read more...] about What’s Up with the Nasdaq?
Elliott Left a Pot of Gold at the End of the Rainbow
After the October 6th bottom, as discussed in the discord, I've been waiting for the impulsive structure to break and give us a 3 wave retracement for wave 2. It appears that correction is now complete in the form of an expanded flat. A very common pattern following a strong impulse. Since an impulse ended on October 20th with a third wave extension, the flat pattern traced out … [Read more...] about Elliott Left a Pot of Gold at the End of the Rainbow