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ryguy
Ty as always. Short and sweet one. Would love you to touch on Bitcoin. The lack volatility made a big difference on the shorter daily continuum lines. Insight in the software and how to read the projections is helpful insight.
Last updated
Yadunath
I was pleasantly surprised to see an update since you'd mentioned not to expect one on Wednesday. Much appreciated your enthusiasm and you taking the trouble. Thanks a lot...
andrewturchindmd379
love the short term stuff peter. for those of us not staying short through the big rips, its helpful to know the st also. i wonder if the 7/8 offset upside target would have greater statistics with a percent of atr put in. It would jive well with your past thoughts on upside projections not being met in bear markets. And also my 3800-50 upside target base on my own elliot work.
Yadunath
There's something not right with this market. There's still no substantial and sustained slide in this market yet. The last few dys have seen only half-hearted moves only to be restored back to previous levels. One key thing missing is the "fear factor". No substantial correction ever took place without a panic and this time around the panic is a fraction of what we saw in Mar'20. Maybe it's the proverbial calm before the storm, but the point remains that the downside targets continue to look distant till we see the fear factor come into play.
andrewturchindmd379
Yadunath said:
There's something not right with this market. There's still no substantial and sustained slide in this market yet. The last few dys have seen only half-hearted moves only to be restored back to previous levels. One key thing missing is the "fear factor". No substantial correction ever took place without a panic and this time around the panic is a fraction of what we saw in Mar'20. Maybe it's the proverbial calm before the storm, but the point remains that the downside targets continue to look distant till we see the fear factor come into play.
Substantial corrections happen all the time without fear. Then fear happens in a capitulation move down. Maybe that is what you are referring to. The fact that we haven't had that fear and capitulation is more proof that we have plently of downside yet. Markets don't go straight down excpet on rare occasions. This has been a very orderly abc, x, abc, A,B, a,b(we are in and b waves are notoriously annoying), with a last c wave down to come. it should be swift and give that fear that you are wanting.
andrewturchindmd379
andrewturchindmd379 said:
Yadunath said:
There's something not right with this market. There's still no substantial and sustained slide in this market yet. The last few dys have seen only half-hearted moves only to be restored back to previous levels. One key thing missing is the "fear factor". No substantial correction ever took place without a panic and this time around the panic is a fraction of what we saw in Mar'20. Maybe it's the proverbial calm before the storm, but the point remains that the downside targets continue to look distant till we see the fear factor come into play.
Substantial corrections happen all the time without fear. Then fear happens in a capitulation move down. Maybe that is what you are referring to. The fact that we haven't had that fear and capitulation is more proof that we have plently of downside yet. Markets don't go straight down excpet on rare occasions. This has been a very orderly abc, x, abc, A,B, a,b(we are in and b waves are notoriously annoying), with a last c wave down to come. it should be swift and give that fear that you are wanting.
And most importantly, the short term projections are to the upside. Looking down when the projections are up can definitely cause frustration.
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Ty as always. Short and sweet one. Would love you to touch on Bitcoin. The lack volatility made a big difference on the shorter daily continuum lines. Insight in the software and how to read the projections is helpful insight.
Last updated
I was pleasantly surprised to see an update since you'd mentioned not to expect one on Wednesday. Much appreciated your enthusiasm and you taking the trouble. Thanks a lot...
love the short term stuff peter. for those of us not staying short through the big rips, its helpful to know the st also. i wonder if the 7/8 offset upside target would have greater statistics with a percent of atr put in. It would jive well with your past thoughts on upside projections not being met in bear markets. And also my 3800-50 upside target base on my own elliot work.
There's something not right with this market. There's still no substantial and sustained slide in this market yet. The last few dys have seen only half-hearted moves only to be restored back to previous levels. One key thing missing is the "fear factor". No substantial correction ever took place without a panic and this time around the panic is a fraction of what we saw in Mar'20. Maybe it's the proverbial calm before the storm, but the point remains that the downside targets continue to look distant till we see the fear factor come into play.
Substantial corrections happen all the time without fear. Then fear happens in a capitulation move down. Maybe that is what you are referring to. The fact that we haven't had that fear and capitulation is more proof that we have plently of downside yet. Markets don't go straight down excpet on rare occasions. This has been a very orderly abc, x, abc, A,B, a,b(we are in and b waves are notoriously annoying), with a last c wave down to come. it should be swift and give that fear that you are wanting.
And most importantly, the short term projections are to the upside. Looking down when the projections are up can definitely cause frustration.
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