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Justin Kunz (P.P.)

26 Oct, 5 tweets, 2 min read

I believe that $SOFI may be getting ready for a breakout to $25 in the near future.

It has moved nicely since Morgan Stanley initiated coverage of $SOFI with an Overweight rating and $25 PT back on the 11th.

Lets break this down... Elliot Wave style 🌊

(Read Thread 👇🧵)

Following the completion of its lower degree (sub-micro) wave 1, $SOFI had a run-up to its trend / Fibonacci resistance in confluence with its coverage initiation.

Our swing high at 21.78 is what I am viewing as our lower degree wave 3 top.

(2/5)

This rejection and followed pullback off of our wave 3 Fibonacci targets / trend resistance helps provide confirmation that we currently are in a lower degree wave 4.

Within this wave 4 watch for continued chop and consolidation to the marked downside targets.

(3/5)

Following the completion of our wave 4, I will be watching for the continuation of our impulse wave to the upside to complete our sub-micro wave 5 of our micro wave 1.

A strong breakout of our trend resistance will help provide confirmation on this move (classic setup).

(4/5)

▶️ For you classic analysis traders, the wedge break is what you want to keep your eye on.

The breakout will likely be what adds fuel to the fire for that move toward my wave 5 target zone.

If you found this helpful please feel free share by dropping a❤️&🔁

(5/5) Good luck!!

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Justin Kunz (P.P.)

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However, like anything it does take time.

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Justin Kunz (P.P.)

@PrintingProfit

28 Oct

My thoughts, analysis, and updates all throughout the trading day.

All in one place for your convenience. 👇

With our trading today it will be best to keep a close eye on the indices.

Yesterday's close wasn't looking too hot, though now recovering in pre-market.

Should the indices start to fail I likely will not be looking to take any longs but more-short positions for day trades.

$AAPL very nice move this morning back through its psychological level of 150.

Lets see if we can maintain over our previous swing high here for upside continuation.

Read 8 tweets

Justin Kunz (P.P.)

@PrintingProfit

27 Oct

$SPY potential short-term consolidation coming after our incredible bullish run this month.

Rejection off of confluent points of resistance, seeing a break of short-term trend into close.

Here is my updated analysis as promised...
(Read full thread 👇🧵)

$SPY over the course of the month has seen a strong rally off of its swing low.

I believe this to be a lower degree wave 3, as wave 3's tend to be the strongest out of the three impulse waves and filled with the most Euphoria.

(2/4)

Off of today's close, we are seeing a break of our short-term trend support. Pulling back out of confluent resistance.

This resistance includes a zone between our 1.618 and 2.00 fibonacci extension levels. It also includes the back-test of our previous trend support.

(3/4)

Read 4 tweets

Justin Kunz (P.P.)

@PrintingProfit

27 Oct

My thoughts, analysis, and updates all throughout the trading day.

All in one place for your convenience. 👇

Thank you all for 9600 followers! Educational post coming later today as promised. Updated $SPY count coming as well.

Here in pre-market the indices are forming a bit of a range between our after hour lows and our closing candle highs.

$QQQ is a very clear example of this.

Watch for a breakout of this range to help dictate morning direction.