Last issue covered corrections, the part of the chart where you wait. This one covers impulses, the part where you get paid. Every week I watch accounts on FinX label a new wave 1 the moment price bounces. Most of the time it is a wave B, or the first leg of a bigger correction. It rolls over on everyone who bought it. You can avoid that. Learn the three rules, how each wave behaves, where each one tends to end, and why I never call wave 1 while it is still forming. Before the charts: two 1-1...
10 days ago • 9 min read
The three corrections, and how to tell them apart I see far too many Elliott Wave 'analysts' spot a three wave pullback and instantly label it an ABC correction. This couldn't be further from the truth. Often that three is only wave A, and the real correction has barely started. Luckily for you, I'll teach you the different correction types so you can tell them apart yourself. Not every pullback is the same. Guess the wrong type and you're early, late, or on the wrong side. You asked for this...
17 days ago • 6 min read
I called the $WYFI drop while most of FinX was pumping it. We were first to highlight $WYFI at $29. It rallied to $46 to complete subwave 5, and only after that 60% move did people start paying attention. Bullish On WYFI In May I adjusted the count slightly as subwave 3 extended to the 2.618 fib. The warning signs of a top were there. RSI was showing bearish divergence and we saw a clear rejection off the 1 fib extension with increased volume, which is textbook for wave 5. I called the top...
about 1 month ago • 3 min read
The four tools I use to find bottoms You need four tools. Moving averages, RSI, Fibonacci and Elliott Wave. None of them work well alone. Stacked together they give you a thesis instead of a guess. Here is how I use each one, and how I combine them. Moving averages I only use the 50 and 200. Daily, weekly, monthly. They show the average price over that period. The longer the period, the stronger the level and the more attention it deserves. A 200 week moving average carries far more weight...
about 1 month ago • 5 min read
Stocks almost never test the 200 month moving average. When one does, I pay attention. $MOH just did. TL;DR Ticker $MOH Setup: Wave 2 within a Primary Wave 3 Buyzone: $148-$168 Invalidation: A move below $118 Short Term Target: $368 Risk to reward: 4:1 First, what Molina actually does Molina Healthcare (NYSE: $MOH) is a managed care company. It sells government-funded health insurance, mainly Medicaid, Medicare and ACA Marketplace plans, to low-income and underserved people across the US. The...
about 2 months ago • 4 min read