I like GRT and have been buying and selling; but, still have a small bag that I want to expand. GRT is doing things to become more decentralized and with AI tag on its brand, I think it should do well. But with anything in crypto world, you never know if a project will be successful or even a scam or not. So, I have waited for an attractive price point for a large...
I have wanted to accumulate some DOT for a while adding to my portfolio of layer 1 bags but for some reason other names have always been at a more attractive price point and Dot always seems to make a lower high. So, I have always backed out of buyin. Dot has bounced off of last low (didn't make a lower low by fraction of pennies) but most likely won't hold it....
ES has been following the bullish count almost to the dot for the majority of the year so far. Right now ES is on critical trendline and fib support and RSI has several points of bullish divergence. If the trendline breaks, it is still not the end of the world. But, if 4300 level breaks, then it will be very worrisome. Below 4200, the doom and gloomers may be...
Roku price action is not the easiest to count. The uptrend since May is wonky but clearly an impulse. It is possible that this uptrend has been a B wave and new lows are yet to come, but, for that need to see price breaking below key support levels, $68, $58 and most importantly, $50. For now, price is bouncing off key fib retracement target, so still staying with...
Pinterest is doing a lot of good things. The turnaround story is motion at the moment and the price action has been choppy for a while. In the next few weeks, I would expect price to make a turnaround and move upwards to complete the leading diagonal pattern. I have changed my wave count since the last post since the price action does not look like the pattern has...
Pins has gotten a bid or two in the past month and looking very different than the year long consolidation. From the flash crash of May, price has come up to fill the gap with a 5 wave pattern. After a tiny dip last week, price is moving again. This uptrend is getting a bit heated on RSI with negative divergence on both 12 hr and 1d timeframes. So, it is still...
My primary EW count shows NVDA has put in an intermediate degree wave 1 top of primary degree wave 5 of Cycle degree wave 3 (or very close to it). Usually I look for RSI on a macro level (monthly or higher) and for the highest print and tag that as Minor degree wave 3 top and work from there. That puts Dec 2016 top as the minor degree wave 3. Working forward form...
If this idea plays out, we should not see a lower low forming on daily timeframe until it reaches another all time high. Keeping close eye on RSI. Minor degree wave 3 should print one of the highest prints ever. After that we should see more volatile ups and downs with bigger ranges and RSI slowly creating negative divergence. Market should see the primary degree...
PLTR is on a rip! At this point we might have seen wave 3 on the minute degree has been completed. Since there is no bearish divergence between Feb high and the today's high, it is safe to say this is not a C wave. However, we must let 5 waves play out. Since wave 2 was long and deep ABC flat, wave 4 could be a swift and shallow zigzag or a triangle. the...
If this plays out then we should be seeing relentless higher highs with small consolidations in between to complete the five wave structure that will create another all time high on the Nasdaq. Everyone will say this is crazy and unsustainable. RSI will be constantly hot. The following B wave should be sharp and relatively short to retest the prior all time high...
RSI study suggests Disney has completed Supercycle wave 1 back in March of 2021. My evidence to this thesis is the highest RSI reading showing at wave 3 of 3 or 3 of 3 (minor degree). Since then, it took a couple of years to complete wave A of Supercycle 2 or in the worst case, wave a of A (yet to be seen). Now there is a monthly bullish divergence forming in RSI...
CGC broke through the wave 2 invalidation level of $1.01 to an all-time low. This can become a waterfall to another 50% decline very soon. However, RSI is showing positive divergence in all higher timeframes. At this point the previous cycle is over and a new cycle is about to start or it's going to 0. I'll check back in a year or so, to see if the company is...
RIOT has hit a snag and has been consolidating as Bitcoin struggles to breakthrough 30K ceiling. With the current macroeconomic headwinds from debt ceiling clown show to fade rate circus it is not unexpected that BTC may fall back to 20 K support. If that happens, then RIOT will also take a hit and the current bull case might be in jeopardy. But I am still hopeful...
Roku made almost a V shape recovery from December low and then stalled out again. Profitability is still out of reach and other than Ark Invest, there is not much enthusiasm for the stock. Elliott wave has both on bullish or bearish counts, but in both cases, there could be some short and medium term upside before farther downside. Right now, stock can make...
TSLA is poised to start multiple degrees of wave 3. As fundamentals and technicals are lining up, and more interests piling up on institutional level it is just a matter of time before the stock skyrockets. Most critics are getting used to Elon Musk antiques and investors are realizing that Tesla as a company is now shaping up to be an independent entity separate...
GME the king of meme stock is still on correction mode. On a log scale it doesn't look that bad really; specially if one compares with the lot of crypto charts. Anyhow, at this moment it looks like GME has some ways to go to complete the corrective wave 2. When price goes parabolic, it is quite natural to have a prolonged corrective phase. Price should come down...
Zoom has broken out of a very long downward channel this week and the weekly close was pretty good. This could be the end of cycle wave 2 which came about an inch from getting invalidated. If Elliott wave principles hold then Zoom has completed a complex correction and starting cycle degree wave 3. Before getting too excited though, a full 5 waves motive followed...
PINS price action has been very choppy and strange, but the latest sharp pullback suggests it is a wave 2 correction following a leading diagonal wave 1. If that is correct, then price should have a 3 move up and followed by another 5 waves down. Price cannot make a lower low than $16.14. Fundamentally, the company is doing OK. There have been good progress made...