Been a while since I posted counts. I wanted to share the count for the Nasdaq 100 futures (/NQ) because it looks pretty bearish.
The counts, primary and alternate, look bearish. Wave 1 of (3) could be complete near the 18950 support area. If so, a wave 2 of (3) bounce may target 19275-19280, which is a 50% retracement.
 |
| /NQ (Nasdaq futures) |
 |
| QQQ |
Since my last post I was anticipating a wave [B] bounce. So far looks like wave (a) of [B] has played out.
Wave (b) of [B] in progress. Once (b) is complete, we should anticipate a rally for wave (c) to complete the wave [B] bounce. A 50% retracement of [A] targets ~41-42k.
 |
| Daily |
I can't believe it has been almost a year since my last post. Hopefully I will find more time one day to post regularly again.
So here is the latest count on BTC. Since my last post, my primary count indicated five waves were complete for wave [5] of {{1}}. With the pullback from the all time high, I counted five waves down to form wave (1).
In the past year, BTC continued its decline in another five wave fashion [ (1)-(2)-(3)-(4)-(5) ] of higher degree to form what I have labeled as wave [A] for the primary count. If wave [A] is complete, we should anticipate a wave [B] bounce somewhere near the 27k-30k range.
The alternate is that either wave [A] may have some more wiggle room below or a larger degree "w-x-y" corrective is playing out. I am not considering the latter so much at the moment unless I see seven waves down.
In my last post, the primary count was that wave [5] was complete. Since then, BTC pulled back from the all time high and formed five waves down I know have labeled as was (1).
The alternate, as previously highlighted is that wave [4] is still developing.
The bullish alternates are still in play but not as likely.
 |
| BTC - Daily |