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Member’s Video for Thursday, November 2nd, 2017
I just arrived in Vegas for the Traders Expo and will get you re-capped on the day’s action. Much of the same back and forth following a Fed telling us what we already knew. Bitcoin on the way to 7k tonight?
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Todd’s Trading Lifestyle Vlog #33 – For Trading, FORGET What You Learned In College
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I am really interested in Todd’s EW count on NDX, SPX, and DOW. Thanks
Hi Dr Bill. I cover them almost every single day in the video and you can find them in the chart room! What specifically are you looking for? Thanks, Todd.
Does the new low in TSLA invalidate the Triangle? (circle c below circle a)
Or is the triangle complete and we are seeing further decline from circle e?
Hi Terry,
Triangle is no longer valid. If you take the fib extension from the highs 389.61 to 331 lows the 100% quality comes at 304 handle. We broke below 100% quality, so the next downside target is 127.0% fib which comes at 288. If we don’t hold 288 then next handle is 161.8% extension comes at 268. If we get to 161.8% then then you can label it as wave 3 and then we have much further decline in coming sessions. I will not be surprise to see Tesla down to 250 in near term where your 38.2% fib support comes in play.
Stock is trading below it’s 50 SMA and 200 SMA moving average and today it close below 200. If you pay attention to the chart it is a perfect head and shoulder pattern.
Hope it helps.
Thanks,
Mo
It does indeed. We are moving to a deeper and complex wave 2 correction in TSLA.
Are we hanging on to this OTM play in FB through expiration tomorrow?
HI Terry,
Unfortunately the trade expired worthless. Sometimes that will happen with the earnings butterflies.
Hi – was reviewing S&P 500 chart. Is it possible we are in ending diagonal in fifth wave of III? That’s what it seems like to me given each wave breaks down nicely into A-B-C