A quick reminder that the market is closed tomorrow, April 7, in observance of Good Friday. The two ongoing themes we are trading right now are (1) Long TSLA and (2) A third wave down at multiple degrees of trend in the stock market. My expectation is that one of these two forecasts will generate 10X returns, minimum, while the other forecast will lose 50% before coming back with a vengeance and generating its own 10X return. Ironically, in terms of pattern recognition analysis, both themes represent EW third waves and as such, they will be steep, robust, relentless, but most of all and as identified as third waves, they will be "recognition waves," where market participants will all become true believers but not until near the very end of the move. That's when we cash in our chips and in the case of the stock market, go the other way, buy calls in the most devastated sectors as their trend models start generating Buy Signals. For TSLA, the third wave longer-term and is measured in years, not months, so expectation is to be long into 2025, minimum. For active traders and investors there is no better place to be going into the rest of this calendar year than right here, at Blue Line PRO. What is coming next will indeed be, "a wonder to behold." My best holiday wishes to all,Allan IWM - Very short-term analysis: 5 waves down, a small ABC retracement due now (shaded rectangle), then hard down in wave iii of 3 of (3).
