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Economic Cycles

QQQ Completed a Cycle Expecting to Resume the RallyShort Term Elliott Wave in QQQ suggests that the ETF has completed a bearish sequence from 7.11.2024 high. The decline made a zig zag Elliott Wave structure. Down from 7.11.2024 high, wave (A) ended at 455.63 low. Rally in wave (B) ended at 475.61 with internal subdivision as a expanded flat structure. Up from wave (A), wave A ended at 467.94 and wave B ended at 452.31. Wave C higher ended at 475.61 which completed wave (B) in higher degree. Then, QQQ turned lower in wave (C) with internal subdivision as an impulse structure. Down from wave (B), wave 1 ended at 444.47 and wave 2 ended at 450.49. Wave 3 lower ended at 426.59 and wave 4 ended at 436.17. Final leg wave 5 ended at 420.00 which completed wave (C) and ((4)) in higher degree. The current rally is in progress expecting to continue higher as wave ((5)). Near term, we are calling a leading diagonal as wave 1 of (1) of ((5)). This wave 1 ended at 447.07 high. Now, we are expecting to correct the cycle as wave 2 before resuming to the update in wave 3. The view is valid as price action stays above 420.00 low.
NASDAQ:QQQ
by Elliottwave-Forecast
1
THE GREATEST LONG // BTCUSD (August 2024)Fiat is flowing fluidly into TOTAL after the after-math of this weekend's price action 2740 was the key level in which the dive to sub-2k level on Ethereum happened BTC/ETH dominance will stagger as alt-coins receive liquidity It's a little late for alt-coin summer, but at least we have alt-coin autumn now It is beyond contrarian to open a long position when everyone else is shaking in fear, but it's now or never if you want to catch the ride up to 100k BTC. You heard it here first. Best in all, dysonring2050
KRAKEN:BTCUSDLong
by dysonring2050
Oil (CL) Should Continue Lower to Build an Impulsive StructureShort Term Elliott Wave View in Oil (CL) suggests that cycle from 4.12.2024 high is in progress as a 5 waves impulse Elliott Wave structure. Down from 4.12.2024 high, wave (1) ended at 72.48 and rally in wave (2) ended at 84.55. The commodity has turned lower in wave (3) with internal subdivision as another impulse in lesser degree. Down from wave (2), wave (i) ended at 83.07 and rally in wave (ii) ended at 83.45. Oil then extended lower in wave (iii) towards 81.25 and wave (iv) ended at 82.16. Final leg wave (v) ended at 80.81 which completed wave ((i)) in higher degree. Wave ((ii)) unfolded in an expanded flat structure where wave (a) ended at 83.74. Wave (b) lower ended at 80.22, and rally in wave (c) ended at 83.82 which completed wave ((ii)). Oil has turned lower in wave ((iii)) ended at 76.40 low. The market built an expanded flat correction as wave ((iv)) finishing at 78.60 high and turned lower again. CL broke below wave ((iii)) to end wave ((v)) of 1 at 74.59 low and also we ended wave 1 of (3). Up from wave 1, the market bounce in a zig zag correction ending wave 2 at 78.88 high and starting wave 3 of (3) to the downside. After 5 swings lower, wave ((i)) of 3 completed at 71.67 low and currently we are calling 3 swings higher to end wave ((ii)) pullback before resuming lower. Therefore, we expect further downside to complete wave ((iii)) of 3. Near term, as far as pivot at 78.88 high stays intact, expect rallies to fail in 3, 7, or 11 swing for further downside.
NYMEX:CL1!
by Elliottwave-Forecast
Long trade Sun 5th Aug 24 Buyside Trade NY Session PM 9:00 pm (NY Time) Entry: 53215.0 Profit Level: 60830.2 (14.31%) Stop Level: 51904.5 (2.46%) RR: 5.81 15-minute TF Entry Reason: Bitcoin Price Update: Bitcoin price is £42,760.49, down 9.96% in the last 24 hours, and the live market cap is £843,907,709,117.72. It has a circulating supply of 19,735,690 BTC coins with a max supply of 21,000,000 BTC and a £48B 24-hour trading volume. Observed a pivotal shift in market trend and change in direction to the upside. Indicators: RSI (Relative Strength Index): Regular bearish divergence at 49.40 (overbought) Volume Analysis: Red & yellow cluster signal
Long
by davidjulien369
XAUUSD Gold to 4KTimeline is 6 months - 2 years The crash has already started. At some point everyone will start to sell thier treasury bonds, yields will go up proportionally to inflation until the dollar loses it's status as the global currency and dramatic measures are used to stop inflation resulting in stagflation and yield recovery. Else hyper inflation and the dollar is replaced entirely. I see the momentum indicators shifting in various markets. Below is a brief summary of each, relevant indicators/markets. see charts. US1YRBILLS WTI CRUDE SILVERUSD BONKCOIN TSLA
OANDA:XAUUSDLong
by Mikhiavelli
3
Differentiate between rate cut and low interest rateNo important economic data from US this week, only trade balance and initial claims to observe on Tue and Thu respectively. US stock market continued decline on Fri, following weakening labor market conditions and earnings from big tech companies last week. In expectations of rate cut, big shots are reducing portfolios. The situation may last until we actually see the first rate cut in the cycle and longer. The rise in stocks is usually associated with low interest rate, I would expect the adjustment in S&P to continue along the path of rate cut. So investors should differentiate between rate cut action and low interest rate, which are presented as two distinguished market conditions.
SP:SPXShort
by moncap2023
Post Halving: BTC Loves Sep and OCTBTC is currently sitting just below 61K and is not ready for the next leg up. We have been stuck in consolidation since the recent ~73K high back in March 2024 and the logarithmic weekly charts shows that BTC has been trending in this rising channel since November 2022. Judging from the previous trends seen in the past two halving events (see below) we are likely to see a massive liquidity sell off prior to the next explosive move to new all-time highs. We can very much continue consolidating within the current ~60k – 70k range but I think we need this sell off to happen in order to go higher. Big players like banks and institutions place massive orders and trade massive positions that drive price higher. Nothing fundamentally has changed and BTC is likely to see a new all-time high, but in order for that to happen, the big players require liquidity. I think we are due for one more sell off prior to new highs and the charts point towards a likely liquidity grab at around ~52K. At that level I expect confluence from the 50 EMA to catch up to price and for 52k support to be retested along with trend line confluence from the rising channel. This will place us roughly around Sep/Oct and BTC loves Sep and Oct. Best of Luck!
BITSTAMP:BTCUSD
by LaMASIA_100
Short trade Sat 3rd Aug 24 Tokyo Session AM Sellside trade 2 Tokyo Session AM 21.00p m (NY Time) Entry 60428.5 Profit level 58115.4 (3.83%) Stop level 61110.5 (1.13%) RR 3.39 Update.... The resilience of Bitcoin's price amidst economic downturn and stock market crashes highlights its potential role as a hedge and store of value. However, the overall decline in price and high volatility indicate that the cryptocurrency market is not entirely insulated from broader economic trends. Forecast: Lower prices in my humble opinion.
Short
by davidjulien369