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Thursday, February 25, 2021

Elliott Wave Update ~ 25 February 2021

The bearish count (The "it's over" count) in last night's update suggested that today would see a very negative price drop. Indeed it did so far.

Here is how messed up everything is: The Nasdaq Composite down 3.5% today and yet the CPCE still painted a 0.47 ratio today....think about that...Nasdaq down 3.5% yet a far majority keeps bidding the opposite.
Is it fair to say that this is the biggest rise in yields in over 40 years? That's a 40 year channel...you do the math.
Weekly: this looks like a big deal. RSI rolling over, prices rejected at the upper channel line and beneath the secondary channel line.  
As a reminder we are still in trading in overbought territory on the monthly...




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