EricIker

EricIker

Never has there been such a massive divergence between price and volume in the history of the SPX (at least as far back as TV volume data goes). Interesting to note, but what does it mean?

EricIker

Tesla bullish channel, but doji printed on daily so be careful

EricIker Updated 

Completion of a Minor degree wave 4 of the Intermediate degree wave 1 is imminent. A motive wave down for the Minute degree wave C should finish the flat correction. Since Minor degree wave 2 (ending early March 2020) was a zig zag, a flat correction should have been expected for wave 4 per the guideline of alternation. A Minor degree wave 5 accompanied by a...

EricIker

As the NASDAQ 100 approaches the likely top of Primary ((3)) I'm left seeing many possibilities that suggest majorly sideways price action for the next few weeks to months; however, an extension of Intermediate (5) is possible, which would be quite bullish for that period instead. Primary ((2)) (not shown) was a zig zag that lasted around 7-8 trading days. I...

EricIker

Shown is a forecast of Supercycle Wave 5 in the NASDAQ 100 Index. I also break down the structure of the Supercycle Wave 5 we're currently in and lay out a target zone for Grand Supercycle Wave 5, Submillennium Wave 5, Millennium Wave 1, and Millennium Wave 2 - which should prove to be the largest decline in the history of the...

EricIker Updated 

My other interpretation is slightly less bullish but still has upside to around $20. This also could be a countertrend interruption to the long term bearish price action which would lead to the stock getting delisted. I see a lot of opportunity here and if this basing pattern holds profits will be insane, but it's definitely a lotto play. There's potential for a...

EricIker

Increased volume during wave 5 suggests an extension to 1.618 is likely. I expect the end of wave 5 to mark the end of wave 1 of a motive wave of one larger degree, which should be followed by a zig zag correction and then an even more powerful motive wave for wave 3. Analysis is based entirely on Elliott's Wave Theory.

EricIker Updated 

We broke out of a symmetrical triangle in a gap up and are simply retracing back to the top of that pattern before making the move up. This is very common and has to do with market cycles. We should expect volume soon, but if there's no volume it is possible we can retrace all the way back down to the 200 Day SMA around $120-$130. Near term outlook is neutral,...

EricIker Updated 

With 002 and 801 going into effect on Wednesday and the completed ATM offering, $GME is sure to take off. The chart is very, very bullish. $AMC is showing bearish divergence and a double top, which lends credence to the theories that it's a pump and dump to fund $GME losses. Not saying anything for certain, all we can do is wait and see.

EricIker Updated 

GME is currently in a pattern known as a symmetrical triangle in which, following a move (up or down), there is a battle between bears and bulls to establish dominance on the market. We'll focus on a symmetrical triangle that starts with a move up like GME , but the same applies to a move down, just vice versa. This is visualized on a chart as a move up followed...