A Couple of Thoughts on the Pump and Where It Might Go

In line with my thought from Monday evening, we’re getting quite the pump. Now, my basic view from that speculation was a “flat-topped” triangle, and if that’s the case, we could be somewhere in the orange “C” of that structure. When we’ve seen a good 5-wave structure somewhere in here, we may be done with “A” (green) of that “C.”

However, I also want to point out an additional thought. The triangle is pure speculation at this point, and it’s possible for this primary (pink) B to not be a 5-swing triangle, but also a simpler 3-wave structure as well. If that’s so, we may see a full “parallel rails” form, too, meaning green “A” goes higher, and we may not need a full A-B-C (in green) to complete orange “C.”

SPY

Cleaned up a bit, the chart could end up looking like this:

SPY

One technical in support of this is that while $SPY has pierced out of its bullish wedge, $AAPL is nowhere near its yet. And if it needs to go check in on that structure, the S&P 500 needs to be given more room to go up with it.

AAPL

And finally, it’s also possible that a major low is in and that we’re going to just keep going up (from the counts page).

In sum, I’m not in too much of a hurry for this to top out locally yet.


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6 thoughts on “A Couple of Thoughts on the Pump and Where It Might Go”

    1. I’m sorry to hear of the trouble. Did you just sign up? If so, I typically get an e-mail from Patreon when a new Patron signs up, and I have not received one yet. And also, the other day, some new users reported to me that there was a 5-10 minute delay between when they signed up, and when they could access the content, and so perhaps that is happening here, as well.

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