Can right click and view image on desktop to see it larger, or zoom on browser.
For reference, there is a 1, 3, and 5 above and 5 denotes the top, and a 2 and 4 under.
From left to right.
Wave 1 was a very long, shallow and sluggish process. However, once 3, 4, 5 kicked in, the ascent angle went vertical!!
This is a CLEAR Extended 5th wave warning!! When the 5th wave extends, it's a strong indication that the coming requisite correction will likely be VERY DEEP.
Extended 5th!!!
The coming correction after the white 5 is placed will take almost everyone by surprise. No one's expecting a correction of this size. The extended 5th means that the correction will be very deep. Is this the time to be buying or selling actions? EVEN if price rises incrementally....hmm, what would be your decision?
I would have to agree and say that these types of stocks are extremely overbought, puts are very expensive even for weeklies reflecting market sentiment at least with options that these stocks could drop hard and fast once people stop FOMOing into them headfirst. My words, not his, and just my personal opinion, not trading advice.
Can right click and view image on desktop to see it larger, or zoom on browser.
For reference, there is a 1, 3, and 5 above and 5 denotes the top, and a 2 and 4 under.
From left to right.
I would have to agree and say that these types of stocks are extremely overbought, puts are very expensive even for weeklies reflecting market sentiment at least with options that these stocks could drop hard and fast once people stop FOMOing into them headfirst. My words, not his, and just my personal opinion, not trading advice.