Dear Readers Today's Limits N QQQQ 47.20 - 47.60 N GLD 66.13 - 66.59 N USO 49.66 - 50.08 N ECA 62.45 - 64.42 N SPX 1531.15 - 1544.51 N TSX 14089.19 - 14169.47 Good Trading
3 comments:
Anonymous
said...
Hello Boris.
I'm thinking out loud here so fwiw. ECANA finishing off rising diagonal on 5 min. chart ready to decline within a Daily Triangle pattern so typical of 4th waves in EW lingo. IF SO (subject to change) we may see one more thrust up into 2nd last week of June in 5th wave before lights out into July.
Dear Danno, I am not a EW expert, but what you say seem reasonable as this stock just can not be denied on it's trip to 66.66? It is volatile, but it just does not , has not closed below the widely followed expaverages. So, until those avearages are broken decisevely downside, one must respect this stocks upside. That does not mean we can not make money on any side on nice intraday swings.
By the way expaverage is now around 63. We need a rounding top that eventually breaks down on this average.
Looking at the entire market and energy, I am uncomfortable taking the long daily positioin, now, not it.
3 comments:
Hello Boris.
I'm thinking out loud here so fwiw.
ECANA finishing off rising diagonal on 5 min. chart ready to decline within a Daily Triangle pattern so typical of 4th waves in EW lingo. IF SO (subject to change) we may see one more thrust up into 2nd last week of June in 5th wave before lights out into July.
All IMVHO ofcourse.
Always here Boris.
danno
Boris.
My comment regarding Encana is my way of creating scenario for top time-wise for markets.
danno
Dear Danno, I am not a EW expert, but what you say seem reasonable as this stock just can not be denied on it's trip to 66.66? It is volatile, but it just does not , has not closed below the widely followed expaverages. So, until those avearages are broken decisevely downside, one must respect this stocks upside. That does not mean we can not make money on any side on nice intraday swings.
By the way expaverage is now around 63. We need a rounding top that eventually breaks down on this average.
Looking at the entire market and energy, I am uncomfortable taking the long daily positioin, now, not it.
Good Trading.
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