The stock market was up big on this Friday to close out the week.
Many are forecasting rough waters ahead. A few say everyone is wrong.
I am in the rough waters camp.
Posted Using LeoFinance Beta
You are viewing a single comment's thread from:
The stock market was up big on this Friday to close out the week.
Many are forecasting rough waters ahead. A few say everyone is wrong.
I am in the rough waters camp.
Posted Using LeoFinance Beta
A relief rally is due in the stock market, currency market, and crypto market as well. Bitcoin is poised for a rally towards 26k followed by 31k, etc. The chart structure also favors such a scenario. Let's see.
Dead cat bounces can happen.
I do not think we are anywhere near the start of the bull.
We will have to wait for the Fed for that since so many put stock into it.
Posted Using LeoFinance Beta
I am anticipating one shorter weekly downward wave and my EWP chart will be completed.
Posted Using LeoFinance Beta
It is highly possible. I do not think we saw a bottom yet. Of course, no idea how long it will take to fully play out.
Posted Using LeoFinance Beta
Chart reading and wave counting aren't easy. It could be interpreted in both ways. 17,580 could be the floor or just the base of the 3rd leg of intermediate Wave C. If the latter is the case, I am expecting two shorter waves (one up and one down) to complete Wave C. Once completed, I think a potential reversal will follow next. .
I think your right. We may see sub 20k again.
I think the idea of a bull run now is premature, a bull trap maybe
Posted Using LeoFinance Beta
Yes. It seems there are still headwinds.
Posted Using LeoFinance Beta
Everyone expects another dive towards 12-13 K.
The only reason why I'm sceptical towards such scenarios is that is based on models and extrapolating previous cycles to current one. And many of the models have been proven wrong now.
Posted Using LeoFinance Beta
Oh thats good information to know.
Thank you
Posted Using LeoFinance Beta
Most of the talking heads say The Fed only has one tool, a hammer, and all the assets look like nails!
:)
Posted Using LeoFinance Beta
The Fed really is powerless to do anything. They cannot fix this but they can make it a lot worse, which they are doing.
Posted Using LeoFinance Beta