344 replies to this topic

[Snippit]

US Dollar Index, DXY

This daily chart for DXY shows that global liquidation pressures were impacting dollar strength. The improvement is indicative of massive interventions by the FED aimed at overpowering these pressures. The indicator advises that the pressures will continue to have their wicked way. The bigger picture sees the top of a Primary degree bear market correction.

 

https://wavecount.bl...-index-dxy.html

 

 

vinum effundam super me

 

 

 

 

[Snippit]

 JSE, Satrix Resources ETF

Now the action brings this greatly improved clarity whereby this review of the entire bull cycle since 2016 sees that Primary wave [3] was complex in extension with a 3-3-3 pattern that is seen to be composed as 5-3-5 -3- 5-3-5. There is potential for the bottom to be in here.   

 

https://jsecharts.bl...ources-etf.html

 

 

 

novam rem

 

[Snippit]

Dow Jones Industrial Average

 

The Dow has technical support. 

The Fed has been here before but with less resistance.

The futures bay for more blood.

https://wavecount.bl...al-average.html

 

 

 

 

 

 

[Snippit]

WTI/USD Crude Oil

Crude is in a bull cycle. Primary [2] is completing.

 

https://jsecharts.bl...-crude-oil.html

 

 

lubricam supellectilem

 

 

 

[Snippit]

JSE, Impala, IMP (Updated)

 

https://jsecharts.bl...impala-imp.html

 

From the daily chart Impala saw an extended correction Cycle before commencing with Primary wave [1] where it has been busy for the past 18 months.

 

The hourly chart shows that Intermediate wave (5) has probably ended Primary wave [1] suddenly and with some volatility at approx 80% of the price action of Intermediate wave (1). Primary wave [2] is thereby seen as being underway with a typical target of (4) which can easily be exceeded to the downside in the current climate of increasing uncertainty.

 

 

et discere respicere

 

 

 

 

 

 

 

 

 

[Snippit]

S&P 500 Index & The Black Swan

In the real world the good news of more Fed to overpower the bad news of the pandemic held water until the realization that an incessant wall of regulation earnings warnings along with a fearful prognosis of no stopping the spread of infection and re-infection have brought a momentary hiatus.   

https://wavecount.bl...black-swan.html

 

 

Meanwhile in chartland we still see our black swan as it struggles with lack of oxygen at this altitude and makes a final honk before inevitably plunging back to ground zero where a less onerous environment for mere cygnus niger awaits complete with endless virginal companions for eternal company or until duty calls once more.

 

 

[Snippit]

JSE, Impala, IMP

Update 18th Feb:

The mirror image of the fractals has evidently presented itself so to complete Minor wave 3 of Intermediate wave (5) of Primary wave [3]. 

https://jsecharts.bl...impala-imp.html

 

 

lapis qui non reversatur

[Snippit]

US Dollar Index, DXY (updated 14th Feb)

The impulsive extends as it heads for the 1.62 marker. 

https://wavecount.bl...-index-dxy.html

 

 

sit

 

[Motivated]

And Snippit, I'm far from stupid but you must be friggin genius with you elliot wave..maybe I read it wrong orctry understand to quickly but hell if turned chart upside down would make sense..think I'll have Friday beer and forget charts ...oh and Motivated Good Luck !!

Thank You Midas!  Happy Friday

[Midas1]

And Snippit, I'm far from stupid but you must be friggin genius with you elliot wave..😁maybe I read it wrong orctry understand to quickly but hell if turned chart upside down would make sense..think I'll have Friday beer and forget charts ...oh and Motivated Good Luck !!

[Midas1]

Seen my butt shorting imp against the trend..my own fault, so putting dosh in bank to avoid any cfd temptation..thanks snippit, soutie IN , day trader dad and any others who helped..time to make some cash and get my life back 😁

[Snippit]

Was the above correct snippit?

 

I see a [iii] there which (as the table shows) is a Minute. The (iii) is a Minuette.

 

The Minor wave is 3 and is the active wave following 2 but not yet completed here.

Edited by Snippit, 14 February 2020 - 10:17 AM.

[Midas1]

(iii) is that your minor wave three, 14750?

Was the above correct snippit?

[Midas1]

My thinking on pgms and imp now is, yes there is a shortage palladium and rhodium but car manufacturing down hectically in china, german brand car sales down, so still shortage palladium but not quite as much demand, therefore I think sgl still running up and they say imp but I thi6the bubble could burst soon , but most people think 2020 still strong

[Snippit]

Now googled on laptop..EW, baffled here man, wheres conclusion of primary wave 1? Around 153 mark? F n baffled wheres this Sh t heading next day or 2? Understand the hat part helpppp

 

The blog version is with the correct labels for the intermediate waves which should be (3) and (4)

 

 

The blog for JSE is at https://jsecharts.blogspot.com/

[Midas1]

Thanks this has caused me no end all kinds of thinking...have a good weekend

[Snippit]

Snippit please do me a favour and tell me in layman's English where this is heading price wise in immediate future and thereafter, I've just finished work and dont have time to figure out the befuddling elliot wave before tommorrow am, I'd really appreciate it if you don't mind saying approx amount tommorrow and approximately amount next week as I'm short now and starting to worry...thank you I have piles of Elliott notes I printed before but will take me ages to work out what ya mean?? Appreciated

 

On the other hand there is almost always another view. In this case it would see this latest up leg as an abc within an ongoing wave 4 pattern, in which case there should be another down leg from here. I would deploy stops commencing just above the recent high.  

The corrective waves are notoriously difficult to trade due to being typically quite volatile and thereby difficult to predict by normal means. 

But they do make for a good exercise in lateral thinking.

[Midas1]

(iii) is that your minor wave three, 14750?

[Midas1]

Rsi looks overbought

[Midas1]

If this heading for 18450 I'm in the Sh t...is it dipping first if so to what level? Cheers