Diving below Mar is worse than end 2007-2008? Btw, if SPY breaks above the upper channel of the expanding triangle, the bull has a lot more to go. Price behavior in coming 1-2 weeks i.e. before election is critical.
I guess it will be lower than current level just before election.
So obvious 
The stock market rally has come to a turning point. The major indexes and many leading stocks are pulling back in a manner that could foreshadow a bullish advance or bearish retreat.
From EWTperspective, still in wave iv , a corrective wave retracing the wave iii, an impulse. Count valid till QQQ breaks below $283. Then alternative count would kick in, in wave 4.c, a corrective wave to wave 3, an impulse. Depicted below, you need a rudimentary knowledge of EWT to understand. If I have to elaborate, it means you have 0 knowledge of EWT.
http://www.forexhit.com/learn-forex/elliott-wave-principle.html
Due to potential complexity of the corrective waves it is best to confirm their end by using other technical analysis tools.
Quite often, I foolishly try to predict the end 
. That is what I am doing now, using fib numbers and trend lines 
If I have to elaborate, it means you have 0 knowledge of EWT => I do not know the EWT.
I trust my own creation, crystal ball , my magical crystal is flashing some REDs now. It is precarious stage now, slowly ramping up for a possible show down ! As I said previously, I moved everything to cash including AAPL.
Even though AAPL sold more iphone 12 beyond expected, it will touch a low (IMO) and come back.
1 Like
No buy n hold???
Orange?
Not Orange, but REDâŚIf you remember all my buy/hold are valid until big drop I sense ! Now, I feel so.
BTW: This is for discussion purpose, not a stock advice, nor a finance advice. You are on your own for anything in stock market.
Your buy n hold is swing to position trade, not buy n hold at all. Well, relative to your day trading, is buy n hold 
1 Like
Knowing ahead that market is going to fall, why should I hold (assuming I am correct both bottom and peak)? What is the point in doing that if I do not have concern (IRA accounts) about taxes on capital gain?
Only if youâre correct 100% all the time 
for each peak and trough. Always need to monitor the market closely. Whereas, buy n hold, can switch off, only need to look at earnings once a quarter. Want me to show you my AAPL again? Do nothing regardless, so long the long term picture is unchanged.
Correct 100% - sure, but monitor closely => No.
The system was developed by Dec 2017 and still running fine for me, able to get the UPs and Downs at least 90%-95% accuracy, far better for me to grow.
1 Like
Update in Dec 2027, hopefully forum is still around
3 Likes
This count is still valid.
AH re-bounce to $285.78, 50% fib acts as a resistance.
Update:
Overnight realize there is an alternative count which is more likely given current behavior,
If I guess, tomorrow is +day(1%-2% S&P up), but very likely negative on Monday (not 100% sure). If tomorrow S&P is very high above 1.75%, Monday market sags.
This is pure guess inference, which may go wrong.
My chart is for QQQ
1 Like
Covid cases are climbing again and we wonât have any stimulus in place before election despite what the pols said. Negative headwind for sure.
Even if we do get something Covid cases are climbing everywhere else as well.
Europe and US are not âeverywhereâ. Check East Asia.
