Thursday, February 3, 2022

Am I being Alarmist?

 What if this IS the correct Elliott Wave Count? If it is , the counter rally, possibly a wave 2 up, 

will be followed by an accelerating wave 3 down.


click to enlarge

 Note the Long Term RSI negative divergence. 

Even if the above is not the existential penultimate Wave -5-, of 5 of V, and is merely a sub wave,

a pullback to the 4th wave of lesser degree, is somewhere between 2200 and 3400!

Daily


 click to enlarge

 Note the negative divergence on the RSI.

A .618 retrace AND a failed test of the very long term upward trendline suggests a high risk of further downside. 

Fib targets and extensions? If we're seeing a relatively bullish abc correction down, equal legs would project to roughly 4000. If we get a 3rd wave down it could do a 2.62 extension hitting 3000.

Its not every day you get all the innovation in the Finance space we saw last year. 

And its not every day you get the combined drop off in fiscal and monetary stimulus we will see in the next year.

 

 





Wednesday, February 2, 2022

Carbon Credits on FIRE

 

The  Krane Shares Global Carbon Strategy ETF, KRBN, is the most liquid and as far as I know the only 

ETF following a Carbon  Credit value strategy. It has been consistently bid for the last year, and is now 

breaking up from a bullish flag. 

KRBN Daily

Click to enlarge

 

   Where to?? There is Fib extension resistance around 59. See below.

KRBN Daily