Weekly preview
Practical Technical Analysis Blog
by Krasi
1w ago
On the hourly chart we have two legs with roughly the same size and the second one mirror image of the first one - it smells like another double zig-zag. Exactly the same can be seen from the October.2022 low on the daily/weekly chart.After almost two years expect trend change... literally days away. TRADING Trading trigger - buy signal. Analysis - important top 18m high, which could be the price high for the 4y cycle. P.S. - for a trade both analysis and trigger should point in the same direction. TECHNICAL PICTURE and ELLIOTT WAVES Short term - now we have second leg mirror image of the p ..read more
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Weekly preview
Practical Technical Analysis Blog
by Krasi
3w ago
The potential impulse was busted again. We have two legs zig-zag and completed double zig-zag for the second leg. All this at week 12 - SPX is running since mid-2022 with strange rhytm average 12+-1 week cycle highs... probably shorter 20w cycles. Either this is the top or mirror image of the previous leg mid-April to mid-May and something like double top. The cycle could be 12 or 14 weeks it vary 1-2 weeks... so we wait to see what happens next week. TRADING Trading trigger - buy signal. Analysis - important top 18m high, which could be the price high for the 4y cycle. P.S. - for a trade both ..read more
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Weekly preview
Practical Technical Analysis Blog
by Krasi
1M ago
The NVDA bubble and the AAPL burst higher to complete c-wave pushed the SPX higher to complete possible impulse. The rest of the market NYSE/DJ/DAX etc. look completely different... in fact it looks the same like the topping pattern in 2021 September to December - most of the indices flat for 4 months while SPX/NDX were pushing higher. Comparing to 2021 this is the November high, next we should see a few weeks lower and 20w high and then the slide lower begins. This is a major high the indices are topping since March and SPX/NDX are pushed higher by the NVDA bubble. Or you can keep dreaming th ..read more
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Weekly preview
Practical Technical Analysis Blog
by Krasi
1M ago
Nothing new - the SPX looks like impulse probably in iv/5 and around FOMC v/5 should complete the pattern from October 2022. NDX/SPX look stronger because of NVDA stock but it is at major top. The other indices with weak retracement and overall divergences daily,weekly,monthly for all indices. TRADING Trading trigger - buy signal, another extended cycle at the length where we see reversal. Analysis - important top 18m high, which could be the price high for the 4y cycle. P.S. - for a trade both analysis and trigger should point in the same direction. TECHNICAL PICTURE and ELLIOTT WAVES Shor ..read more
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Weekly preview
Practical Technical Analysis Blog
by Krasi
1M ago
SPX still looks like wave 4, but if you look at other indices like DJ,NYSE,SPXEW most of the rally was retraced... the tech stocks/NVDA again creating the illusion of a strong market. Some kind of topping at 18m high is running, if you look at the 2021-2022 top it looks the same. TRADING Trading trigger - neutral signal, up and down around the MA. Analysis - 18m high turning lower into 18m low. P.S. - for a trade both analysis and trigger should point in the same direction. TECHNICAL PICTURE and ELLIOTT WAVES Short term - it still looks like w4, but only for SPX/NDX. NYSE/DJ have different ..read more
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Weekly preview
Practical Technical Analysis Blog
by Krasi
1M ago
The same like last week - short term waiting for confirmation if this is wave 4 and the final wave started alternate the top is in. Intermediate term if you count from the last low we have week 30 and the 40w cycle should be making a low instead we have a high. So most likely the market continues with the shorter 40w cycles. This means the next low should be in the second half of July and the important low around the elections. TRADING Trading trigger - buy signal. Analysis - close to 18m high then lower into 18m low P.S. - for a trade both analysis and trigger should point in the same directi ..read more
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Practical Technical Analysis Blog
by Krasi
2M ago
Interesting if this move up will complete as impulse or just another zig-zag. I bet this is just a zig-zag... I do not buy this impulse counts, very extended cycles etc. It will take a few more days, but that is it. TRADING Trading trigger - buy signal. Analysis - intermediate term high and a few months lower. P.S. - for a trade both analysis and trigger should point in the same direction. TECHNICAL PICTURE and ELLIOTT WAVES Short term - 2,62 extension, I have not seen such clean impulse for years... who knows maybe this time it will play out. Intermediate term - zig-zag testing the top ..read more
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Practical Technical Analysis Blog
by Krasi
2M ago
The indices are moving higher into 10w high currently week 6. If the pattern is a-b-c it should be completed, but one more 20d cycle to complete the 10w high will look better... than the pattern will change to the usual double zig-zag w-x-y. TRADING Trading trigger - buy signal... very extended cycles in both directions count easier. Analysis - intermediate term high and a few months lower. P.S. - for a trade both analysis and trigger should point in the same direction. TECHNICAL PICTURE and ELLIOTT WAVES Short term - the c-wave now with 1,618 extension or it could be the usual w-x-y. In ..read more
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Weekly preview
Practical Technical Analysis Blog
by Krasi
2M ago
The correction continues it is more complex than simple zig-zag. The next expected high is early next week.... unless it mutates again to something even more complex. TRADING Trading trigger - neutral signal, oscillating around the MA. Analysis - intermediate term high and a few months lower will follow. P.S. - for a trade both analysis and trigger should point in the same direction. TECHNICAL PICTURE and ELLIOTT WAVES Short term - possible corrective pattern a-b-c with b-wave triangle. Alternate w-wave zig-zag and now in x-wave. Intermediate term - intermediate term top and the first wa ..read more
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Practical Technical Analysis Blog
by Krasi
2M ago
After a-b-c lower and 5w low we have zig-zag higher for 5w high as expected... in theory another leg lower into 10w low should start. TRADING Trading trigger - buy signal. Analysis - intermediate term high and a few months lower will follow. P.S. - for a trade both analysis and trigger should point in the same direction. TECHNICAL PICTURE and ELLIOTT WAVES Short term - a-b-c lower and now higher - in theory another leg lower should follow. Alternate the correction is more complex than simple a-b-c. Intermediate term - intermediate term top and the first wave lower.... a few months lower ..read more
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