If $CVX breaks this multi-year compression, I believe we’re looking at the beginning of a multi-year, multi-cycle bull market—one trade really can change your life.
$PBR
Also, Todd, you said in your video that the fact that Paul Tudor Jones is going on CNBC and openly discussing that he will be selling and that his sentiment is bearish lets me know that he's probably got a few wave counts up his sleeve. Without a shadow of a doubt, he's taking that into consideration. I know he's fundamentally a genius, but for those of us who understand Elliott, the red alarms are there that Friday was probably the beginning of an impulsive move. Maybe next week we get a corrective move; maybe next week we get a little corrective rally. But that's only going to be a rally to probably give funds enough time to prepare for what's coming in the C-leg. We all know the C-leg is deadly.
Hey Todd, I’ve been following you for years and one thing I’ve always admired about your Elliott Wave analysis is your ability to stay calm and let the counts speak for themselves.
Recently, a few of us who follow Elliott Wave closely started noticing some really bearish counts developing. We kept saying man, the market is screaming something here.
And I kept watching your posts thinking at some point Todd is going to recognize what these counts are suggesting. And I think you’re finally seeing it too.
The scary part is that this might not be just another correction. If the decline starts unfolding as an impulsive wave rather than a corrective structure, we could be looking at something much bigger and potentially much uglier.
Sometimes you just have to let the waves do the talking.
Yeah, that makes sense. Nike will probably rally just because it's in the sector, but what you're saying is the leading horse is the leading horse, and I agree with that. Makes sense. When I saw this rally, I thought Nike was probably going to find a bottom here. But that’s all I’m saying. Yes, it does seem to me that the brand is gaining a lot of traction, as the numbers show.