Tax Bad News, North Korea, Storms and Buyers showed up on thin volume yesterday lifting the equity markets, on hope leaving and closing today with flat to up day.. Today few stocks kept their momentum names like $AAPL, $BA, $TSLA, $FB, $BABA, $NVDA, $AMZN , those named we have traded them to the long side.. – Check Chat Room
On Waves Side its a Classic Wave 4 Head Games: remember some psychology behind these moves…all the bears got all over that first move to 2415 ES….and loaded the boat…to one side….also bulls go oh hey buy the dip again…works every time… we got that nasty rally…and shook tons of shorts out yet again…and easy bull money made to the Buy the Dip (BTD) crowd….now we continue to weaken back down to fib retrace levels…but it acts violent….that boat can get heavy again on the shorts side…and you have the buy the dippers thinking zero risk again…
then one more clean b-wave rag-doll move higher….and then you have a market with no confident shorts into that rally…given up all hope….and a whipsawed masses crowd…..and buy the dippers told again…wait for weakness again and lay into it!
ONLY to enter the period where the C-wave can fall freely….as shorts lost positions and bulls blindly buy every dip that deteriorates….
