DDD, INTU, P updates 1/22

DDD: The whole advance off the early 2016 low into the May-2017 high looks corrective: 3 waves. Hence, I’ve labeled it as such. The decline since then looks much more impulsive telling us the dominant trend is down. For now a larger bounce is underway, but it may already have completed. PLEAS NOTE THE ANNOTATION IN THE DAILY CHART!! Trading is NOT about trying to pick tops and bottoms, it’s about being on the right side of the trend! For now the trend is down, the charts are bearish, there’s nothing positive about it. No trading recommendations. Don’t forget that price can go to $0.00…. If not, wait till the trend up shows itself, than enter.

DDD daily

Monthly chart not much better, ambiguous wave count, long term down trend. Yes, there’s positive divergence on the TIs, but that doesn’t mean yet price will thus go up. It can persist for a long time (see P for example below)

ddd monthly


INTU: New ticker based on member request. Very nice one to work with. The price action is clearly in an impulse up. Compared to DDD this is something you want to long on the next pullback, which will be (orange) micro-4 of (white) minute-iii of (green) minor-5, etc. The wave price targets are examples only. Given that price is so extended it’s hard to make accurate price-target-zone predictions. But long term INTU is not done on the upside. Long term investors should stay long INTU. Short term investors should wait for micro-4 pullback, which I anticipate to move to $140ish as that was prior resistance.

INTU monthly


P: Same story as DDD. It’s firmly in a downtrend. Don’t touch it. Simple. Per the weekly chart I’d say price is now in minute-v of minor-5 of intermediate-c of major-c of primary-C of Cycle-2. I can’t really say how low it will go, as price is already extended for minor-5. We’ll have to wait for a strong reversal, 5-waves up, pullback, and a move above the 200d SMA etc before we know for sure Cycle-2 has bottomed. Then we can make, with much more certainty, a lot of money of this ticker. Until then, it can go to $0.00 if it wants to… Yes, the weekly chart has positive divergence on the RSI5 and MACD which does tell us a low is close, and a break above the red down trend-line for the MACD will be a great sign of a trend reversal. Until then, it’s probably better to sit on our hands so we can warm ’em up to push the buy button soon enough.

P weekly