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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk
SOXL 46.51+3.0%Dec 5 4:00 PM EST

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From: scoot121211/15/2024 9:28:56 AM
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I thought I'd give back to this forum a little of the goodness I've taken over the years. Believe me, I'm an E-Wave amateur, so my apologies for my cluttered chart . But I have a few points to make. One, there is a possible inverted H&S in the making at .86 cents, if price makes a higher low (blue wave2), as Breeze has denoted. The price target would be $1.87. The reason that is not my primary count is because the minuette, lesser degree count is ugly--It looks more impulsive than corrective, currently. So, contrary to the bullish view is that of a lower low creating opportunity for one last wave 5 down. I view either to be valid alternatives. However, there is a gap at .44 cents, no one has mentioned. That equates with the fifth wave down capitulation scenario. I would be mindful of that. Since Microvision may have no news until the next earnings call update in February, the question is, "What will keep price supported"? That's plenty of time to take price down to fill that gap, if that's the intention of the powers-that-be. This is also a time for tax-loss harvesting, which impedes upward movement. If instead, there is news here in Q4, before the holidays, then Breeze's primary bullish count, a wave 2 higher low will be the obvious winner. If not, then one last nefarious take-down may be in order. Be careful out there. And as well, thanks to Breeze for all that he contributes here. He is a gem. JMHO

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