Mixed markets on Monday - ES and NQ lower with the DJI and RTY higher. Pulling the NQ lower was the continued correction within NVDA, SMCI and AVGO. I have made a small adjustment to the labeling as I discussed within the Podcasts presented on Saturday. Both moves lower continue to present a more challenging picture, but I feel that both remain corrective and not impulsive (5 waves down) that I would be expecting after the completion of Minor 3rd waves. Therefore Minor 3rd waves remain within the final legs for now. I update Fibonacci support levels to complete the smaller 4th waves in progress now. This then leaves the expectation for an additional small 5th wave rallies to complete the sequences up to and including the Minor 3rd waves.
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures ...
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC Rule 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will, or is likely to, achieve profit or losses similar to those shown.