Comments on: Stock Market, Sector, and FAAMG+I Analysis 4-6-20

By: G-Trader

G-Trader — Tue, 07 Apr 2020 10:39:15 +0000

The FED is buying up the markets. We should not be going up like this. But can’t fight someone with unlimited cash

https://www.nytimes.com/2020/03/23/business/economy/coronavirus-fed-bond-buying.html

By: Fisher76

Fisher76 — Tue, 07 Apr 2020 09:08:35 +0000

I follow a few different EWT analysts, and I can tell you they all have different counts. Some predict the end of a super cycle has begun and this is just wave 1 down (depression to come), to others thinking we are still in the bull market off the 2009 lows. Hindsight will tell us who is correct, which is why I don’t put much weight on EWT anymore.

By: Nick_SemperFi

Nick_SemperFi — Mon, 06 Apr 2020 20:02:24 +0000

Would be interesting to hear your thoughts on these two charts:

By: Stargazer

Stargazer — Mon, 06 Apr 2020 19:51:14 +0000

Hi Randy I do use EW.;).. I have two counts one is we are in 4 up correction with 5 to come
my other count is ((A)) is compete as of 3/16 now we are in C of ((B)) that can run up to prob 50% correction ..then to ((C)) down

By: TJS

TJS — Mon, 06 Apr 2020 19:39:20 +0000

In reply to Tasian1. Rub it in if and when the stops hit, otherwise, still an active trade and can go any which way.

By: Tasian1

Tasian1 — Mon, 06 Apr 2020 18:06:19 +0000

SO, SPY NOW TRADING AT SECOND RESISTANCE …. 262.26…. WHAT SAY YOU NOW? OH AND PREFERABLY BEFORE THE CLOSE!

By: aturchin

aturchin — Mon, 06 Apr 2020 17:32:43 +0000

@rsotc, Any concern that the rsi positive divergences have burned through on many of your charts? I see the PPO's might just extend. From an elliot wave perspective that you asked about, my count has us with an ABC zig zag down with us in an abc x wave since the bottom. I know its semantics to most, but the reason we aren't likely in a 4th wave is that its so long in comparison to what would have been the second wave and now I'm calling the B(our first countertrend rally). The flaw in elliot or any technical analysis imo, is whetherr the abc up from the bottom is all of the correction, OR is it just A of a bigger ABC correction. That is where your amazing analsysis helps tremendously. Thank you for your thorough work.

By: stockninja

stockninja — Mon, 06 Apr 2020 17:09:10 +0000

In reply to stockninja. Sorry for having a big face of Cuomo in everyone's face. @rsotc feel free to take this post down as I didnt know it would post a big picture like this :)

By: wilhud

wilhud — Mon, 06 Apr 2020 16:32:51 +0000

SPY seems to have run in to a separate resistance off the high too.

By: rahjah11

rahjah11 — Mon, 06 Apr 2020 16:16:20 +0000

Thanks! Is there a typical retrace down in the Fibs given that its 38.2 up?