Tony is going to be absent for a little while. There are some health concerns we are dealing with as some of you may know. For the moment he does not have access to a computer. I will keep you updated throughout the week with any news. Thank you for your patience and all the well wishes.
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SPX
Bullish scenario: Micro-3→Nano-ii pullback is currently underway which ought to find support at the 2646 pivot range (-/+ 7 points). At 2648, the pullback would mark a 50% retracement. A deeper pullback to the lower end of the 2646 pivot would fill a gap at 2640. Either way once the pullback finds support, then Micro-3→Nano-iii would start to progress making new all-time highs resuming the Santa rally (first chart).
Bearish scenario: Intermediate-iii wave topped at 2665, and an Irregular Minute-b wave of Intermediate-iv topped at 2672. If so, Intermediate-iv downtrend ought to be underway heading towards the 2575 pivot. Scenario gains credence once 2625 is taken out. (second chart).
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Good summary abc, thanks.
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BITCOIN
Two speculative scenarios:
1. (first chart) The bitcoin bubble ended at the 12 Dec 2017 high, and a bear market is underway.
2. (second chart) Cycle-5→Primary-v is still underway and either completes at:
a) 18,770 (on Bitfinex) where Primary-v equals Primary-i wave; or,
b) 31,800 (on Bitfinex) where Primary-v extends, and equals 1.618 times the length of Primary-i through to Primary-iii wave.
—Taking out the 10 Dec 2017 low would qualify scenario 1.
—Taking out the 12 Dec 2017 high would qualify scenario 2.
Next bitcoin update will be when either one of the above scenarios occur.
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Spx correction over
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enough for a 4?
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Nano 2 maybe?
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Maybe Pico 2 of Nano 3 of Micro 5 of minute v.
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lol
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yes so far
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dont know
but ext nicked on es and spx
that tells me that final rally is coming up
new high or failing rally ?
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Why final rally?
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final rally before ext fails with a vengence
if buyers were strong the extension would not be violated
they would front run it to not miss the next rally
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I have 2 lines a bit lower down but im starting to add again
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Oil to 60/62…then a try for 66…UWT
Gold to 1600….UGLD
UGAZ
RUT to outperform…TNA to 96
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If CL breaks 62-63 area – there is nothing that stands in front of it until it hits 90!!! 60-62 is a no brainer but then either buckle up or a significant swooooosh!
Damn UVXY – no fear, looks like everybody is waiting to BTFD.
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still bearish below 57.80
it has a lot to prove yet
still just a daytrade until it closes above the BRICK wall at 59
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Disagree re Oil After 61 to 62 WTI crde to drop to $15 per bbl. Buy SCO when crude between 61 and 62 IMHO Rabbit
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Stalling looks like pullback 2620s
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Yep, holding short to around this number.
Phil, are you back into UWT?
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looking for spike up now or i am taking profits
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SPIKE !……….. raised stops on uco now
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bull above 56.83 now
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Nearly 2% with low volume? No chance! We grind on up.
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Are you buying any RUT down here?
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amazing rut has given back all the gains since Flynn news broke
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Can anyone post up the pivots every few days?
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market looks like it did when it dropped to 2605. A sick bull up 80 negative up 35 just bucking all stops before they drop it. I put a stop on my short at where i bought it 30.28. just in case im wrong. my last post for the day so good luck all. I must humble myself even more by golfing. I suck
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hit 2nd vst support line at 2661 ish, as always have to see what happens now
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