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TA big picture

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@blondebroker1 I actually think this looks like a pretty good spot to start building a real reversal. Heavily oversold, divergence on pretty much all timeframes and some structure to build against.

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@StockPatternPro I hear you, nothing wrong with staying cautious. I’m long ETH atm though. Pretty hard to ignore the bullish divergence on both weekly and daily. Just not sure we’ll see another drop.

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@Zac_Markovich It probably will, I like it longer term. But I do think we need to revisit 210 first.

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@shortseller yeah, but I have a hard time imagining it before a proper backtest 190-200

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@TheLongInvest @upand2theright Why? Fascinating to see people obsessed with gender instead of actual care of the baby/kid.

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@PikesPeakTrades Hi Wes. I’m short so agree on that. But curious of your wave count. Imo it looks more as this is the start of wave 4, which makes me believe we’re going for somewhere around the spx gap. I’m not an expert on EW though so would appreciate your input.

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@David_Tracey Haha, okey. I have nothing to add, don’t worry.

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@David_Tracey Even if you were, I wouldn’t care if you got one wrong. Not really my point.

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@David_Tracey Haha, okey. I don’t even know what to say. Thought you were better than that.

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@shortseller That’s not what he’s saying. Read it again.

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@David_Tracey Im not so sure, still looks good to me. But today/tomorrow will tell.

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@David_Tracey Hmm, I was more thinking ~89K then one more push up before we visit low 80’s. Thanks for the heads up! Let’s see what happens.

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@David_Tracey Wish I knew 🙂 I’m out of spx since a while. Trying to focus on individual names with good setups instead.

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@David_Tracey Added to China instead

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@David_Tracey By the looks of todays PA I’m leaning a smaller pullback the coming days into mid next week, then continued grind up into January.. but it’s just a guess right now. I’ve taken quite a bit off today.

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@Jake__Wujastyk Hahaha, I know the feeling 😂 Using speed control in my car can be a bitch.

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@David_Tracey I just did too. Looks like you’re spot on 👏

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@David_Tracey Not sure if I understood you correctly but you don’t think we’ll make a new high? I don’t know.. kind of think we do see a new ATH before the real decline/correction.. pretty fast too.

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@David_Tracey I can see why, looking at the chart. But I must confess I didn’t think we’d go even this low just yet.