maikisch

maikisch

I have been on Trading View for almost a year now. In that timeframe I have been fortunate enough to have almost 2,600 people who follow my work, shared almost 700 ideas within that community, and founded my website for paying members. Yesterday, we held a training / education Zoom call and dissected the move up off the October low of 3502. The purpose of this...

maikisch

My base case is XLF has topped and confirmation below $34.21.

maikisch

Trader Sentiment is of the utmost importance as it pertains to price action. The attached is one that will be updated from time to time as my followers can see how the various bullish and bearish sentiment plays into the price action.

maikisch

As we have discussed at length in my Trading Room. We are now experiencing a much anticipated and needed decline in the indices. Whether the recent highs in the Nasdaq and the SPX are lasting tops is yet to be determined. Local Tops in both indexes are confirmed...and therefore that means price will eventually get into the respective confirmation zones. In the...

maikisch

Above $1630 and the below pathway is the standard progression of the wave count off the June 2022 low.

maikisch

...But this could be extended wave 4 in an overall c-wave decline displayed in purple. The mid June decline into the low .20 cent region invalidated the immediate move to the $.70-.80 level. Granted in the very micro charts, the structure favors higher levels...but it may just be respite for eventual lower levels to come. Black is my primary analysis and purple...

maikisch

The last couple months have been challenging if you were bearish on the markets. However, recently it seems one by one, all the bearish analysts and money managers are now issuing their mea culpas, and are quickly embracing the bullish market perspective. I am no different. I made the mistake of allowing my analytical bias to remain front and center for too...

maikisch

Clearly I miscalculated the momentum of this retrace. I have been steadfast on this retracement respecting the .618% and the .786% and none of those resistance areas have given price pause. This move is now taking on parabolic characteristics. Given the fact that price has yet to respect fib extensions nor retracement resistance, I have no choice but to think...

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I'll keep this brief. The area on the chart where purple 5 resides best counts as a 3-wave structure. Therefore, in my primary analysis, I am counting this as an irregular b wave that made a slightly higher high and now we should be heading into the 4370 area for our black c wave of 4. I have a purple alternative 5 on the chart because there is a chance of wave...

maikisch

In mid-June the SPX Futures hit a high of 4493.75. Let’s examine the data points, the characteristics of the subsequent price action, and attempt to see if the SPX Futures Market topped at 4493.75. Since futures bottomed in October of 2022 at 3502, price advanced for 8 months so far has appreciated by 28.3%. With market analysts, money and asset managers, and...

maikisch

The Nasdaq market has been the most impulsive looking of the indices. Having stretched slightly above the .786% retracement off the move down from November 2021 highs to the October 2022 lows, price looks to challenge the overall bearish structure. Unlike the other indices, the Nasdaq shows a clear impulsive structure. However, the problem with this idea of...

maikisch

If you’ll remember in October of 2022 when the SPX had declined 27% since the January all-time highs. It seemed the sentiment and market news were uber bearish with back drop of the Federal Reserve hiking rates by an unprecedented .75 points at its FOMC meetings at the time . Around the December lows, we began discussing in my trading room what the sentiment...

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Anyone who answers yes or no definitively to that question is really just guessing. As a practitioner of Elliott Wave I can answer that question in two-parts. 1) There is not enough price action to make such a determination In my trading room we discuss the key levels that need to be breached to even start to consider the upside pattern is cracking. To date,...

maikisch

Approximately a month ago on CNBC, the ticker displayed on the bottom of my TV screen would be fixated with a quote of Bitcoin. The bewilderment of the CNBC hosts with the fact that Bitcoin was actually moving up and displaying stable price action, in the midst of a banking crisis was, to them, counterintuitive. Inexplicable. In my trading office I keep CNBC on...

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Since the December lows of 3788 ES, I have been tracking a triangle pattern that would have reconciled higher in my target box for a larger B-wave. Readers can look at previous postings to see what I have been forecasting. Last week, SPX Futures breached the 4208.50 level. So, with that, the final micro target of an e-wave was invalidated and thus the triangle...

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As an analyst, I often wonder if I get too much into the weeds (so to speak) at times. In the final analysis do those tiny details even matter? When you’re both a full time trader for profit, and simultaneously an analyst who shares one’s work publicly, often times distraction and multi-tasking is the enemy of discovery. Hopefully, this is not one of those...

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Unfortunately this week I do not have the time to do a deep dive into the ES futures...suffice to stay, if you like being entertained...go back and review my ES Chart posts over the weeks. It's like watching stop motion animation as the only that has changed on the chart is the price action. PS: Next week I'll have more time to update my followers. Best to all, Chris

maikisch

I’ll get right to the point. NO Now granted, as the reader, you’re immediately drawing your own conclusions about that opening statement. You're probably thinking... The author of this post is obviously bearish and therefore has an agenda. Ok, that’s fair. Then indulge me as I explain, in detail , why I believe todays market participants and financial news...