Category: SPX

We could easily see a positive close in SPX at this point off the ABC W2 formation intraday..that would help push NASDAQ positive as well and I may make an entry later in the day

It would be a short C wave if SPX reverses off the lows here and bottoms out…hopefully we don’t get one of those huge cascading downward 3’s here like a couple days ago, but it looks like it’s near completion

SPX has nearly completed an ABC zigzag off the highs and I’m anticipating a reversal to green shortly…it looks like a standard A = C formation..

It’s pretty straightforward and simple for the catalyst of a long term upward 3 in SPX and NASDAQ…it’s the recovery from Covid that started with the 3 vaccines that are 90-90% effective…the market has yet to factor in this recovery and long term that’s what will push the market to insane highs..

SPX top of B wave is 3630 and we’re just a couple points from taking it out today….once that level is breached it sets up a huge Wave 3 with potential long term target of 5500+…yes this is how important this breakout is

After completing ABC flats, any strong upside breakout from here could turn into huge upward Wave 3’s that could last months…we have 1-2-3 but the W2 has been a rough sideways pattern for 2 weeks..but it looks like we’re about to emerge into a Wave 3

There could be 5 waves down from the recent 10 day high in SPX..but SPX would need to break at least 3580 or .786 of the 5th wave to set up a full .618 reversal

If SPX is in an ABC flat we may see a full C wave to as low as 3510-3520 before a Wave 3 reversal so there might be a way to go at least today to the downside…NASDAQ isn’t helping either as it continues to fade

I had lost about $350 but it could have been way worse if i didn’t stop out..looks like a sideways triangle in DOW and NASDAQ so Im staying clear until another breakout

A full 1.00 breakout above 29,900 would setup a short term W3 to around 32,000 at best if there’s a 1-2-3 off the lows…but longer term 43,900 is the highest target based on the 1-2-3 pattern off the March lows

DOW gapped down 400+ points at the open but has nearly gone positive and broke .786 to the upside on the intraday rally…I have UDOW and was down $2000 at the lows but now down maybe $500

We hit a new high slighlty and and have gone sideways to down in the past hour..but the fact remains is that we broke .786 to the upside and are setting up for a multi year or multi DECADE Wave 3 so this minor move intraday could easily reverse.

After a corrective ABC flat, SPX broke 786 retrace at 3610 setting up a potential long term W3…if it travels 1.618 X W1 from 2200 to 3600 a target would be as high as 5300-5500 long term

DOW has nearly completed and reversed an ABC zigzag, and if it breaks 29,500 it would setup a full .786 breakout into a Wave 3 up…29,500 is the top of the B and it’s nearly there

SPX is reversing off yesterday’s lows but is still stuck in a sideways pattern..only way this could turn into a Wave 3 is if SPX takes out 3620…I’d be a buyer if this happens but for now I’m sidelined

The support level at 3520 looks delicate and even with this bounce it may retest it by the close..I want to see a full ABC retest/correction and .786 breakout before I’d enter this market..

I wouldn’t trust this rally until SPX breaks .786 retracement at 3620…if that level breaks it would be a 1-2-3 setup to higher highs and I’d consider a trade

3490-3500 is the previous W4 an SPX hit that level or got close today…it would need to break .786 at 3620 minimum to draw me back into the market as that would be a 2 before 3 setup

They said that out of around 88,000 patients that took the drug only 94 of them contracted covid..that’s way better than 90% and this could have marked the day that Covid died. I’m beyond exhilirated and am looking forward to normal life again in a year or so..

SPX and DOW are in clear Wave 3 kickoff moves..this 3rd wave could last for years and cause both indices to double or even TRIPLE…NASDAQ already broke out but since it holds stocks like Zoom and Pelenton which are both down 15%-20% it barely broke out today…but once this news is digested it’ll be back to the tech stocks and for a huge run that may last for years like SPX and DOW

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DOW went positive briefly but has faded hard to .618 fibonacci support which may break…I prefer to see DOW and SPX positive along with NASDAQ before setting up a trade so it needs to hold here and break a new intraday high to set it up

Another potential period of huge volatility in the coming hour at 2PM…NASDAQ has faded in a zigzag off the highs and a break of higher highs may draw me in…I’ll be waiting into 2:30PM or later however due to how wild it gets

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So if I’m acting a little bitchy and uncaring at the moment it’s because I didnt sleep and TRUMP LOST…I’m a republican and I’m still in shock

https://ftx.com/trade/BIDEN https://ftx.com/trade/TRUMP

1.618 target is precisely 3428 and that’s plenty of upside from where we are..this could happen as soon as intraday and my stop to buy triggered..will stay long until we get near those targets..

The gap up is very sizeable this morning with SPX gapping well above 3330…the upside 1.618 target is 3450 from here if 1.618 X W1 but to make entry right now you’d be betting on a 90-100 points SPX move..I’ll see what I’m going to do..

DOW and SPX retraced in pretty standard looking ABC zigzags intraday and reversed hard near the highs..and although NASDAQ is lagging it’s turned positive and could make a run at .786…but the election is tomorrow and nobody knows what’s going to happen..so like everyone else I’m sidelined

The uncertainty is the main reason the indices failed to follow through on the rally…it’s unknown what may happen tomorrow, and if it turns into a 2000 type of recount election, look out

DOW and SPX by 10AM have hit or almost hit higher highs but NASDAQ is fading from the highs…if NASDAQ breaks a new high that would setup an intraday trade..but don’t know what to buy yet if it occurs

Most Recent Day/Swing Trades

We have ABCDE forming in an ending diagonal 5th wave pattern on DOW and SPX..however my last ending diagonal call failed, so I’m slightly apprehensive from bottom fishing into it…but it sure does look tempting so i’m 50/50 about trading it..

Past hour has been sideways but we’ve broken to the downside again particularly in NASDAQ…I have a 3200 target for SPX and 10,750 for NASDAQ and we may see that by the close if it worsens here..

.618 X W1 + W3 in a 5th wave would target 3200 on the nose intraday for SPX…that’s another 40 or so points to go but NASDAQ is acting very heavy and could drag it there by the close..if it happens I’ll be there waiting..

A full .382 retrace in SPX would be as high as 3327 which is about 80-90 points from here…I’m holding in anticipation of that type of move to form…by end of day into next week would be the time frame for this move..

Most Recent Day/Swing Trades

If I see 3246 I may go in and buy…I’m watching real close at the moment so don’t be surprised if I react soon..

SPX And DOW both are past .382 but NASDAQ is near .618 on the current reversal…if this was a bottom it wasn’t your conventional 5th wave down…we’d rally hard on earnings after the bell if this were the case

3315 was .382 of the entire drop from 3407 to 3259 which means we got an upward W4 which would stop the downward W3…worst case now is the 5th wave down if it happens at all…it all depends on earnings after the bell

I’m waiting to see if 3246 hits in the coming days..if it comes on a huge gap down, I wouldn’t bother however…we need to have an intraday fade that hits that level which would result in an upward W4…the W4 could be sizeable again, so I’d try to buy the extreme of 1.618 down

1.618 downside target for SPX is 3246 and if i see that level hit I may even try to buy in anticipation of an upward W4 which would be pretty big considering how far down we’ve come..

DOW got within 20-50 points of breaking A wave support and may see at least 26,000 in an A = C zigzag minimum…but the fact that’s is so weak this early it may even turn into a downward W3 at worst which would target 23,500-24,000…

ABC flat would target at least 3200 to the downside in SPX…that would be at least an ABC flat after breaking support..worst case is at least a zigzag correction to the 3100 level which would be at least A  = C

.618 fibonacci support is around 3340 and that’s where the A = C target is as well for SPX..it may happen tomorrow or middle of the week and it needs to hold to prevent a full downward 3 back to the 1 month low

The failure of the formation means that what we saw may have been a B wave up before C or 3 down in DOW  SPX NASDAQ…DOW is at risk of testing the 1 month low at this point…

If the indices fade like crazy like they’ve been doing every day for weeks at the end of the day, that would be D up and E down in an ending diagonal…I sold for whatever profit I could grab due to the weak move up on NASDAQ on what should’ve been a W3…but after hours if the indices spike up hard the reversal could be huge so I may buy after hours..

It’s tough to say if we get a 3 down or if we’ve bottomed because from where we are the charts are very sideways and bizarre looking…I would think that after ABC we’d breakout to the upside but it’s not happening..

NASDAQ and SPX both gapped near or above .382 retrace and NASDAQ has started to fade in a 5 of the C wave….SPX is still near the highs but if NASDAQ forms a retest of yesterday’s lows I’d consider an entry..that would be 1-2-3-4-5 down within the C wave

Worst case is a C wave to 3410-3415 which would end up being an A = C..but this could be a W2 before W3 so I’m waiting for that scenario to develop to setup third wave trades..but the zigzag is still in progress so I’ll continue to watch

3472 is .618 support for SPX and for this retracement to be “just a w2” it would need to hold …NASDAQ broke it but bounced hard to positive, but i have a feeling this is not going to be an easy day to trade..

A break below 3472 would setup a nasty C wave slide as that’s .618 support of last Friday’s rally..the fade is getting worse so it may be taken out within minutes of this post..

DOW SPX and NASDAQ all ran up near .786 breakout and failed at that level and now we’ve gone negative..if this gets worse we may have to see the C wave form ..a drop below 3472 in SPX would setup a C wave breakdown on ..618 fibonacci support

We’re pulling back deeper in a zigzag in SPX, but I want that…the deeper the pullback the better, and a return to the highs in NASDAQ/SPX would draw me back into another swing trade…we’re clearly in a Wave 3 up after a bottom so I want to milk this rally for all it’s worth

It’s very miniscule but resembles an ABC zigzag off the highs..I want to see a deeper retracement followed by a late day rally over the intraday high past 2:30PM to setup a trade..or I’ll do the after hours thing again..but if i bought before the bell yesterday I would have made a lot more than $160 that I made today

DOW clearly broke .786 retrace but SPX needs to clear 3510 to break .786 and setup another bottom confirmation…again I think we’ve bottomed 100% so I’ll keep swing trading or buying dips and breakouts on the indices…but I’ll wait until 1PM

DOW .786 retrace is 28,600 and we got within TWO points of breaking it this morning…this makes it an 85% chance that we’ve bottomed in the DOW and gives it an 80% chance SPX and NASDAQ bottomed..but I think we bottomed 100% here..

Looks like NASDAQ is the place to park the money at the moment, and I’m looking around for a good tech to buy on this breakout…DOW an SPX after leading yesterday are lagging today so an ETF trade in either is out of the question for now…

SPX is at new highs but it’s so volatile today that anything could happen..so I’ll wait until after hours again to make a trade

NASDAQ reversed off the lows but has to go up another 40 points by the close to break new highs..SPX is already near the highs so that could be an option by the close..

This could end up being a trade setup intraday but I want to see clear. 786 breakouts in SPX and DOW first before I’d react..but it’s very possible at this point..

DOW and SPX could push towards .786 breakout in an hour..NASDAQ is lagging however and needs to break new intraday highs to help SPX and DOW in their uptrends..

SPX may have broke into a Wave 3 intraday but we’re near “peak time” at 1PM so I’m going to be patient an wait for a pullback and breakout into 2PM..but SPX is leading the way higher so chasing NASDAQ isn’t a good idea

DOW is positive in and out 4-5 times today but NASDAQ refuses to go up at all..this is really pissing me off considering I gave positions..you’d think NASDAQ would rally with DOW and SPX but this is not the case..I guess I’ll be holding over the weekend

We could have 1-2-3 off the lows as DOW and SPX both broke new intraday highs…this is a setup for a W3 that would take the indices positive after a deep C wave gap down W2 this morning..

SPX and DOW completed ABC zigzags at the lows to the previous W4’s and NASDAQ is further ahead on the reversal…There’s a chance the indices go positive here so I’ll keep holding my positions which have bounced back hard as well..

By 1PM there’s a chance of a breakout attempt in SPX DJIA NASDAQ and if yesterday was a Wave 2 a Wave 3 would target 3620 in SPX..which is like 300 points away from where we are..

My stops to buy didn’t trigger and now DOW and SPX are fading to negative…we had breakouts at the open but I waited to make sure they wouldn’t sell into and they did…my stops are pretty high so it would Require new highs for them to trigger..

We’re up slightly but not enough take out today’s intraday highs..I need something huge to commit money to a trade here, but i can wait until 8PM…but at this point I don’t think i want to swing this

We may have completed a W2 all in 2 hours but we may have to retest the low again tomorrow morning at 3329 at worst before a potential W3…so we got W1 off the lows W2 now and a Wave 3 up would be huge and take out new all time highs..

5 waves up from 3209 into 2:30PM…I figured I’d sell at around big time sell time at 2:30PM and the moment I sold it..at the peak mind you..HUGE correction intraday…I saw 5 waves up and just wanted my $280 and I got it

SPX may make a run at 3420 by tomorrow or even the close as that’s the last 1.00 retracement level before a full on breakout…NASDAQ is nearly at 1.00 and DOW is near .786..all 3 breaking out would be huge

Just to be conservative NASDAQ may have 5 waves up from yesterday’s low so I sold for a profit my TQQQ..but SPX broke .786 retrace and that’s usually where I buy…but since we’re approaching 1PM sell time I’m going to back off and wait for a correction..

Feels like a crash “up” today and even with this fade I expect a return to the highs and higher and DOW could exceed 28,000 or the official .786 breakout level by the close..SPX is within striking distance of 3385 and both target should be exceeded at this pace..

if I swung into the open with TQQQ or UPRO would have made a couple thousand dollars…but the indices didn’t close well yesterday and there was the debate….the futures were way up and faded to deep negative..and when I woke up futures were way up again…tough to swing at the moment

We may get a C wave down in NASDAQ with a gap down tomorrow, but I’d be a buyer if that occurs on 1-2-3-4-5 down…SPX may see 3310 tomorrow on a gap down but both indices would be W2’s potentially

3270 is quite a distance from here but that’s .618 support which needs to hold for this correction to be a 2 before a 3…what I want to see is for the 5 wave pattern down intraday to reverse over 3354..that’s .786 of the entire correction and a good entry..or even here at the lows

The distance from the highs to the intraday low is enough to qualify for a 2 before a 3 in SPX…if SPX manages to go positive that would be a SCREAMING Wave 3 entry and I’m actually drooling over the prospects of that move..

3334 is the previous W4 for SPX and it nearly hit it intraday this morning…DJI is near A = C in a zigzag too but if it’s a 2 before a 3 I would be ALL over it…my favorite pattern is W2 correction followed by a W3 breakout so if we reverse to yesterday’s high by some miracle I’d jump on it..

This could be either a W4 or a W2 at this point so I’m staying away until it finds a low and reverses…I sold the UPRO for break even right near the intraday highs because I saw the NASDAQ slide into a corrective W4 min..

With NASDAQ at the highs it looks like it could carry the DOW out of the slide in the past 1/2 hour…it looks like a simple reversible zigzag in the DOW so don’t be surprised to see it reverse and make a run at the highs by the close..

The first wave coming off of a bottom usually takes out .786 of the C wave and in this case SPX it’s 3385..that’s about 25 points from where we are and we’ve really come a long way…but I could see it happen in the next 1-2 days and above the B wave..

The DOW is within striking distance of .786 and SPX could even challenge 3385 as soon as today…this is the first wave off a zigzag bottom and usually it’s really powerful and could break 1.00 of the entire C Wave this week..

I may add more if I see another breakout move in any of my top 24 stocks at this point…NASDAQ SPX and DOW all broke to new higher highs and since we’re coming off a bottom this rally could become way more ferocious into 12PM

First layer of resistance was 3323 in SPX and we broke it at the open..but .787 of the C wave is 3380-3390 and we need to break those levels to confirm a bottom….8 times out of 10 when that happens it confirms the bottom of a zigzag

The peak of the 4th wave up was 3323 and SPX futures at this point would open with 2 points of that level…that would open the possibility of a .786 retrace to the 3380-3400 range or at .786 of the entire C wave…at that level would confirm a bottom and new impulse reversal..

This appears to be the first impulse off the bottom so the squeeze could get crazier into the close…1-2-3 for NASDAQ is 11,060 so there’s plenty of upside and 10,975 is the last layer of resistance…3323 in SPX looks real too

3323 is another 30-35 points from where we are and we may attempt to break that level after clearing 1.00 of the B Wave…1.00 is 3323 for SPX and a break of that would setup a much bigger .618 reversal of the entire corrective wave from beginning of sept..and a bottom

It’s not like it’ll kill me if the market keeps going up as I have no position…but the fact that a C wave down needs to form to keep the ending diagonal scenario alive is the reason I’m married to this wave count…and I will be until the end of the day

DOW and SPX are up yes, but didn’t get above 1.00 like NASDAQ so both are vulnerable for late day fade..that would be within the structure of an ABCDE ending diagonal so I welcome that move..

The rally off the lows has faded 40 points in NASDAQ making it tough to hit my upward ABC and 1.618 targets..when I saw the fade start I sold my TSLA and may back off until it starts to reverse..but I need to see a new high to go back in

NASDAQ is up 35 again so the attempt to get a C wave was derailed again…but it’s so volatile at the moment so anything is possible in the coming hour….we could fade again to the lows in SPX and DOW and it’s really not that far from the intraday low

A c wave with 1-2-3-4-5 down is what I Want to buy at the moment…an upside .786 breakout is also possible but the indices are battling to pick a direction at the moment so at this moment it’s wait and see

The structure of ABCDE could complete as soon as today…SPX DOW and NASDAQ need to test yesterday’s low and spill in the coming 1/2 hour to set it up…buyers would come back in to buy the C wave low, get a D up and E down..

SPX would need to drop 30 points to the downside to complete a “C” an ending diagonal formation..I’m rooting for that to happen as we’re gapping down at the moment…but once we test 3209 or lower we need an immediate reversal to the upside in a D wave..this is the structure that’s required to get a major bottom in..

It would exceed 3209 by a small margin and reverse again in a D wave up..followed by an E wave down to complete the ABCDE ending diagonal formation and bottom…

My March 18-20, 2020 Elliott Wave Bottom Calls from Facebook…Bottom = March 20, 2020

I have huge players watching my website every day and when I say “FORM THE ENDING DIAGONAL” they typically do it…so watch in the next couple days..ABCDE wedge ending diagonal

I know who they are and I banned them from my website..so I’m watching your website and if you steal from me again you’re going to fucking regret it..

If we exceed 3272 by a large margin we could turn into an upward Wave 3 in S&P which would mean DOW and NASDAQ would be in upward W3’s as well…about to buy

Rarely do we see an impulse the size that we saw intraday coming off a 3 day high…it was scary and relentless but I had no positions when I saw it form all the way down to the low…SPX and NASDAQ both broke .618 and .786 support..if 1.00 at 3229 in SPX is taken out tomorrow we could see a plunge to 3100-3150 before any semblance of a bottom..

3260-3265 is still quite a distance away so this could still be a W2 before W3 in SPX…that’s .618 support and needs to hold for this correction off the 3 day high to be “just a wave 2”

We could truncate the 5th wave here and reverse again but it’s getting heavy at this point as all 3 indices are close to breaking new intraday lows…we got 60 point move off the lows in NASDAQ where I was able to grab a $150 profit but after that the fade intraday in the past hour was NOT a good pattern…