danborovik

danborovik

Looks like we failed to make a HH and therefore the top of the B wave is 9,940. If that's the case and we drop and close a HTF below 9200, I can see us headed down to a new LL under 8,200. Potentially taking us to 7500 or even lower!

danborovik

My EW count has the top of the B wave at 9500. From there we will be dropping down and possibly making a new low at 7500!

danborovik

My thoughts on where we may be headed next. If we can't break above 9500, I expect further downside towards 7500! If 7,500 fails, we may see the 6,000s once more.

danborovik

If VET makes a HH and pushes above resistance, it could pop up hard to 0.006. Continuing to monitor to see what happens next.

danborovik

BTC is approaching a key trendline resistance established since the 2017 highs. 10,500 is a price that BTC has not been able to break past on it's previous 2 attempts to in 2019. I expect this to be a great place to take a short all the way back to possibly mid 8ks.

danborovik

This wild oil rally must come to an end at the hands of the 55 ema D1 or 50 ma D1. They're both right around this 27-28 dollar mark. At most I can see a spike to 30 before a drop off but this is the time to start looking at a reversal.

danborovik

We broke downward out of the rising wedge so beautify. It looked like the top of the B wave was in until price decided to make a HH, which may be a potential bull trap. If we can range between 22k - 24k, my EW count will still be in check. A break below 22k will confirm my count and I expect to see many bears entering here. Another wave up would launch us to the...

danborovik

could this be the top. It just might be. Will continue to monitor development in this range.

danborovik

DJI showing a perfect EW count. So far so good as per my last post. The next wave will be sharper and hit hard as we prepare to open the economy. I do expect to see the lows/make new lows again.

danborovik

A break above 7,300 with a HH around 7,500 would almost certainty provide the fuel needed to reach 8k. On the bear side, a break of 6,600 would drop us to 6,100 before 5,700.

danborovik

The market has been rallying on positive news of antivirals and re-opening the economy. Could this be the time to go short. Is this rally over? I think so. To me it seems reasonable to believe that we will either retest the lows or make new lows and follow this EW pattern that I have outlined.

danborovik

If BTC can push through the 0.618 level, and make a HH, we would be set to make a move up to 7.8-8k resistance level. If not, we go back to ranging in the 6ks.

danborovik

If VET can break the 55 ema on the 1D, we should make a move up to the next resistance level at 0.005, which is right where the 200ma/ema are currently resting. A failure can result in a drop back to 0.0032 support.

danborovik

As you can see from the chart, 24k Dow should be around the peak before we begin the drop back down to 18k, and potentially 15k as a final price point for the DJI.

danborovik

The moment of truth is here. We are at the 55 EMA D1 and 0.618 retracement. If we are able to breakout here, I suspect we run up to 7.8-8k. If we are rejected here, we will retest 6950-7,000 levels.

danborovik

Would make a lot of sense if we are rejected here and continue to range in this zone. The new normal is 3-5% swings daily! Volatility will continue until the economy reopens.

danborovik

Looking bearish on US equities. Bearish rising wedge on SP500, as well as decreasing volume. If we are able to break 2750 then I will get bullish. I expect another retest of 2350.

danborovik

A retest of around 6500-6600 seems more likely as we are still in a range, getting ever so closer to an apex here. We are at resistance so a move down before a final decision could be in the works for BTC.