As I said in my last post, I think it very likely that the bottom is in. Just as with every other bottom or top though, you need confirmation before saying one way or the other. The first bit of confirming data you want to look for, is a clean 5-wave move higher followed by a 3-wave retrace forming a healthy 1-2. Right now, this doesn't look like a clean 5-wave structure forming on the micros. Instead, it looks more corrective like an ABC, but I could see how one could possibly see an impulsive count forming. One thing of note is we breached the trend line and have thus far stayed above it.
MACD is sending mixed signals at this time, but we do have pos divergence still. As stated in my prior post we should get confirmation one way or the other soon. As of now, I only own 10 shares with a HARD stop @ $114.43 which is the invalidation point for this count. If we get confirmation, I will most likely buy more shares along with a few calls. The next larger target to the upside is $190 @ a minimum.
Just s y'all know, beginning February 23rd, I will be dramatically changing my posting schedule here on trading view. My last regular post will be on that day.
MACD is sending mixed signals at this time, but we do have pos divergence still. As stated in my prior post we should get confirmation one way or the other soon. As of now, I only own 10 shares with a HARD stop @ $114.43 which is the invalidation point for this count. If we get confirmation, I will most likely buy more shares along with a few calls. The next larger target to the upside is $190 @ a minimum.
Just s y'all know, beginning February 23rd, I will be dramatically changing my posting schedule here on trading view. My last regular post will be on that day.
Trade active
Added 10 shares and keeping same stopNote
Of course price would drop right after I buy extra shares lolNote
This price action is VERY encouraging Note
This is what I'm seeing right now
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.