SUMMARY
Master Card (MA) has reached stratospheric heights and is running on fumes! Take a look at the Elliott Waves where a full impulse count has pretty much completed and if not yet, a few more dollars up to $200 could be potential. However, is this the time to be taking buying or profit taking actions? For the seasoned traders only, could this be delicious short sell opportunity? Would buying some put options be justified by risk to reward? What do you think?
The subwaves are pointing to the same direction as they confirm the higher degree of trend wave counts. The red ABC is only one potential corrective pathway, but given how stretched white wave 5 is, the correction is likely to be deeper than expected. The MACD is flying in the ionosphere...it's probably not sustainable. IF this analysis is correct, then a sizable correction is likely ahead. What might be the trigger for such a big correction? I don't know but news or events shall arrive to justify the forecast.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?
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