$NVDA probably a buy here, definitely a buy below $280 for oversold bounce. I would buy with confidence around 275.SF2004 said:
$NVDA taking it in the shorts. Why the big selloff????
$NVDA probably a buy here, definitely a buy below $280 for oversold bounce. I would buy with confidence around 275.SF2004 said:
$NVDA taking it in the shorts. Why the big selloff????
SPX gap starts at 4645$30,000 Millionaire said:what gap?BREwmaster said:that gap down may get filled in the next 24 hrs.McInnis 03 said:
/ES
Several order flow guys I follow are taking note of HEAVY sell activity at 4660 that couldn't make a dent past it.......makes me think they may flip to bullish above 4660 tomorrow.
Will it go all the way or turn up soon?mazag08 said:The top was a full 5 waves up. Which means that what it's been doing since June is a 2nd wave retracement which usually targets 61% but can theoretically get as low as the start of Wave 1 (all time low in this case) as long as it doesn't break that level.BREwmaster said:
anyone else notice this one AMC?
For AMC, the 61% retracement was $28.92 and it got it nearly perfectly on August 5 hitting $28.91. That level also happened to be really close to the 123% of extension of the a-wave (the initial decline from the all time high before correcting upward a little).
So there's an extremely good, and Fibonacci supported chance that the bottom is in for this 2nd wave. But I personally don't like the structure, and everything that has happened since has been corrective in nature which usually signals the potential that we are still in the 2nd wave and likely the b-wave of it which would correct upward. That would make all of the downward action between the ATH and $28.91 the a-b-c action of the larger A wave. The larger B wave looks to have landed between the 50% and 61% retracement of the larger A wave, with the c-wave leg within it hitting the 123% extension of the a-wave within it. So I feel very comfortable that the move up from the $28.91 low is indeed corrective, though I will keep an alternate on the table.
So that leaves us with the larger C wave. And remember, c-waves take the shape of 5 impulsive waves down. Starting at the top of the B wave on September 13th at a price of $52.79, we enter a clearly impulsive downward structure. While this could be an a-wave of a 2nd wave following an impulsive wave 1 up (the bottom is already in scenario), it is much more likely it is the C wave we are waiting on. Our current action would place us somewhere in wave 5 of C to complete our second wave in a not uncommon a=c manner (where they end up at the same general point on the chart. There's another a=c where they cover the same distance which would place this C down near $15 to close a gap way to the downside.. but I don't see that kind of tanking in the books).
Here's a zoomed in view of our C wave.
And if I draw on my chart.. I believe this is what the cool kids call "flagging" amirite?
As a reminder, there is a chance we've already bottomed and we're in a weird shaped retracement of the first leg up from the low. I would NOT bet on the downside at this point. Too much weird action in the overall market. And as Avi Gilburt always says.. predicting a corrective wave is like throwing jello for distance. Love that saying.
$30,000 Millionaire said:$NVDA probably a buy here, definitely a buy below $280 for oversold bounce. I would buy with confidence around 275.SF2004 said:
$NVDA taking it in the shorts. Why the big selloff????
Welcome back..........SINNERmazag08 said:Will it go all the way or turn up soon?mazag08 said:The top was a full 5 waves up. Which means that what it's been doing since June is a 2nd wave retracement which usually targets 61% but can theoretically get as low as the start of Wave 1 (all time low in this case) as long as it doesn't break that level.BREwmaster said:
anyone else notice this one AMC?
For AMC, the 61% retracement was $28.92 and it got it nearly perfectly on August 5 hitting $28.91. That level also happened to be really close to the 123% of extension of the a-wave (the initial decline from the all time high before correcting upward a little).
So there's an extremely good, and Fibonacci supported chance that the bottom is in for this 2nd wave. But I personally don't like the structure, and everything that has happened since has been corrective in nature which usually signals the potential that we are still in the 2nd wave and likely the b-wave of it which would correct upward. That would make all of the downward action between the ATH and $28.91 the a-b-c action of the larger A wave. The larger B wave looks to have landed between the 50% and 61% retracement of the larger A wave, with the c-wave leg within it hitting the 123% extension of the a-wave within it. So I feel very comfortable that the move up from the $28.91 low is indeed corrective, though I will keep an alternate on the table.
So that leaves us with the larger C wave. And remember, c-waves take the shape of 5 impulsive waves down. Starting at the top of the B wave on September 13th at a price of $52.79, we enter a clearly impulsive downward structure. While this could be an a-wave of a 2nd wave following an impulsive wave 1 up (the bottom is already in scenario), it is much more likely it is the C wave we are waiting on. Our current action would place us somewhere in wave 5 of C to complete our second wave in a not uncommon a=c manner (where they end up at the same general point on the chart. There's another a=c where they cover the same distance which would place this C down near $15 to close a gap way to the downside.. but I don't see that kind of tanking in the books).
Here's a zoomed in view of our C wave.
And if I draw on my chart.. I believe this is what the cool kids call "flagging" amirite?
As a reminder, there is a chance we've already bottomed and we're in a weird shaped retracement of the first leg up from the low. I would NOT bet on the downside at this point. Too much weird action in the overall market. And as Avi Gilburt always says.. predicting a corrective wave is like throwing jello for distance. Love that saying.
I did some soul searching.. and decided that life is too short.bmoochie said:
Welcome back, how was camp?
hedge said:
I thought this was a gambling thread
$30,000 Millionaire said:
There was a great phase 20 years ago about arguing on the internet. It's the best way of putting it.
MUSK REPORTS SALE OF ADDITIONAL TESLA SHARES, FILING SHOWS moar
— FXHedge (@Fxhedgers) December 14, 2021
I saw this big bet come through on my "sniper" filter on unusual whales. I jumped in and stopped out for a small gain right before it ran 40%.BREwmaster said:
I missed my exit on flipping verticals this morning on it (AMD) and saw the writing on the wall pretty quick and got out. I wouldn't get too bearish on it, as it's a great company and product.
BUT! the 100 day is a ways back at 122. (if the rest of the market decides to take a dump)
35% of the S&P 500’s YTD return has come from five stocks .. pic.twitter.com/8Te9odXDVa
— JE$US (@WallStJesus) December 14, 2021
wanderer said:
I've seen this alluded, but this visual really puts it into perspective. Wow
S&P50035% of the S&P 500’s YTD return has come from five stocks .. pic.twitter.com/8Te9odXDVa
— JE$US (@WallStJesus) December 14, 2021
For you the better. Just because someone else is successful with their way of trading, doesn’t mean you will be as well. Study as many different techniques as you can. Put them together if you have to. Just find what works for you and stick with it. Never completely
— Yates Investing (@yatesinvesting) December 14, 2021
Change it, just tweak it when the market changes.
— Yates Investing (@yatesinvesting) December 14, 2021
OOPSIrish 2.0 said:
Sure hope none of y'all were long ADGI
cageybee77 said:
I can't find news. what's up?
$ADGI damn did that ever come off $75 quick!
— Nathan Michaud (@InvestorsLive) December 14, 2021
Adagio Therapeutics Reports Reduction in In Vitro Neutralizing Activity of ADG20 Against Omicron SARS-CoV-2 Varianthttps://t.co/5SU2LXbpjA
Academy Sports upgraded to Buy from Neutral at Goldman Sachs, raises price target to $58 from $47 $ASO
— PSK2329 - JHC (@psk2329) December 14, 2021