$NIO TOP 20

Ok I think today could offer some wild volatility, we could get a flush to the 200 Day MA in the market, and when I mention the market like this, I mean the $SPY moving down to test the 200 Day MA on the daily chart at $418. I personally think it bounces from there, as I have seen enough to think that this is only an ABC corrective pull back for Wave 4 and sellers look like they are being met with too much of a battle against the bulls who believe this is going higher until the end of the year. Look at 9th of October last year, this was around the time the market started its aggressive rally upward and we are positioned in the market now for the same move.

$NIO has been pulling back this week after hitting the 0.78 Fib, so I have this pull back as subwave 2, as the 0.618 Fib is at $8.43, this is just a benchmark for us, ultimately we do not want $NIO to make a new low below $7.93.

This has been an incredibly complex chart and time for $NIO and there is certainly more straightforward and easier charts to focus on every day but you learn from working on the hardest, so I enjoy the challenge.

I am seeing many people talking in our group about support and resistance lines, monitoring 200 and 50 Day MA, speaking about different EW counts and I have been incredibly impressed with this chatter, this is miles away from how this chat group once spoke like. The learning curve here is already exponential and it has certainly brought an air of calm to the group too.....right in the middle of a very aggressive pull back too, so this is very exciting for the group and I am delighted to see it, keep this progress going and we will continue with the lessons too.

All dark clouds move on eventually and we are very close to this happening, it may begin by the end of close today, so let's watch for confirmation of support.