Refer to chart below…
From my Pandawan’s EW interpretation of QQQ (not SPX), wave iv should have been completed PM today… however if what you two guys say is correct, it means is PM’s low is not wave 4.( c) and is in fact is wave 4.w then wave 4.x (up) and wave 4.y (down)… however I think 4.y should be at the about the same price level as 4.w (my preferred 4.( c)). That is I don’t believe QQQ would establish a new low when SPX establish a new low because when looking at the two charts of QQQ and SPX… so far, QQQ has declined below wave (4) while SPX didn’t…
Take note of the bullish divergence between wave 4.(a) and wave 4.( c)…
Labels of waves on chart…
Preferred in green color. @Jil/ Master Wu in yellow color.
Master WU is using 50% EWT correction, that means QQQ is left with 2.98% and SPY is 3.93% more. Since both indexes are linked stocks, it must complete.
Today pull upside some time morning hours after market open or both May end up positive eod.
I just assume WU is correct , without challenging, here as I do not know bottom!! Most of the stock are already way down.
I can only challenge TSLA won’t touch $500 ( not in line with EWT ) which is another 25% correction from current $650!!
You want to see WQJ net worth to reduce half? You are to greedy on him!!
Can you show me your chart? According to my interpretation of Master Wu EW, he uses 38.2%… see chart below… counts of SPX and QQQ are slightly different…
Note that 38.2% retracement of wave 3 is 3673 He might have use slightly different prices…
Cut n paste QQQ here for easy comparison…
Wave iv is retracing more than 38.2% and almost hitting 50% of wave iii… If I force QQQ labeling to be like SPX, it can’t go any low than 304 (lower would invalid the count!)…
EWT rocks. I only have to improve my proficiency If Master Wu is at 9 out of 10, I’m at 5 (hopefully … @mcp, @girlykick I think you two are on the right track to learn EW Is hard to master After more than 10 years of learning, still at level 5
After more than 10 years of learning, still at level 5 ==>>>
EWT rocks. I only have to improve my proficiency ==>> IMO, with my little knowledge on EWT, You have to identify the correct points of bull wave and bear wave !
I have everything on calculation, not on picture. He is taking oct 30th as lower point of bull wave and feb 12th higher end of bull wave over and it is 50% correction.
Here is the one I made it for you (not so good like yours)
This is 3rd consecutive drop going on, which may be well set for lowest possible. Check the market at 12:30-1 PM or 12:45-1 PM, if deep down, shop more !
I want the market to go down deeply so that we see the end of it. If it recovers, it is horrible to correct later…
[edit] looks to me recovered, hmmm, I should have bought TQQQ at $80, but got it at $85 now
With the way market corrected morning drastically (TQQQ went to $80 and then $85 suddenly) and then recovered, looks to me the entire drop / correction comes to an end.
This may not match Master Wu’s low point, but I am guessing that it is done for this quarter now.
If QQQ jumps tomorrow above 2.5%, we can fairly assume today is the lowest.
It may be premature - but I decided to buy now and closed all my purchases by now (Come what may, I can hold if it dips further).
BTW: This can go wrong any time, not a stock nor investment nor financial advice.
I went to HMART and back, same price as open Miss the bottom at 80.89, now at ~85… dare not go more than 10% margin. What if… I am wrong about the count… disaster…
Jeez… Master Wu refers to GSPC! not Nasdaq, not nasdaq 100 and definitely not QQQ. NASDAQ 100 and QQQ are slightly different All these indices don’t move in tandem… Their components are different.
No more wxy for wave iv? Back to abc? don’t be so quick. Wave x can be higher than wave iii Those EW rules are for wave 12345abc… they didn’t say internal (component of) waves need to comply.
I don’t know but hopefully today will be the last STFR (sell the f***ing rip) day for me, and SPX goes straight down to 3700. I loaded more puts and 3x inverse ETFs near top today. God of market, let’s just get over with it and flush it down please.
What if… I am wrong about the count… disaster… ==>> IMO, You are playing safe, that is 100% essential for investment, no big moves, no margin, that is too good a practice. I always vote for no margin !!
All these indices don’t move in tandem… Their components are different. ==>> Even GSPC is done deal by today, no more changes. You want me to challenge WU as Pandawan, right? Her it is …Market done deal. Let me see whether I am right or Master WU is right? This is my algorithmic low point.
[If there is a change in my decision, I will post here]
No more wxy for wave iv? Back to abc? don’t be so quick. ==> Today is the last day of correction (as I update market turned negative, 100% right on negative now…The more it corrects, better we are to know today is last !)…This is algorithmic (which you believe) inference. Let me see whether my algo is right or Master WU’s statement is right.
Her? How do you know is a she and not a he? Because Master has a female billionaire friend? But Master is a man, right? You might be correct. Do guys love panda?
Btw, the price behavior so far feel corrective rather than impulsive… I would be wary to declare bottom is in.
So long is above 297, count for QQQ (just to be very clear) remains valid
Remember Master refers to GSPC.
Make sure you are checking GSPC and not NASDAQ 100.
He might have use slightly different prices…
If Master Wu is at 9 out of 10, I’m at 5 (hopefully 
After more than 10 years of learning, still at level 5 
297, count for QQQ (just to be very clear) remains valid 
Remember Master refers to GSPC.