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Strategies & Market Trends : Underexposed Technical Analysis

AQN 5.875

+0.4%

Dec 5 9:30 AM EST

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To: Underexposed who wrote (745)	2/1/2020 9:11:18 PM
From: robert b furman	Read Replies (1) of 914

HI UE, Good advice. Really glad I sold those BRKS calls ( over 50% of the premium has vaporized in a week and a half). My thoughts on a retrace, which we are seeing unfold - it'll take more time I think. Expecting a short bounce next week and then more downside. If we call the wave that started on 10/03/2019 @ 2855.94 and ended on 1/22/2020 @ 3337.77 an impulse wave 3 of 5, then we should see retraces to the following possible numbers ( 4 0f 5) : 1) 23.6 @3222 2) 38.2 @ 3152 3) 50.0 @ 3095 4) 61.8 @ 3038 This dip through friday has a fairly clear ABC down. I'm thinking we need that to morph that into a bigger A, and next week's bounce gives us a short B with a C yet to follow. My favorite read would be a ABC X ABC with a bounce next week being the X. That would give us a 4 down that would be complex vs the simple 2 we had as an ABC irregular flat ( that took up May through October of 2019. Looking forward to your portfolio review tomorrow. Bob

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