$BABA TOP 20
Added 2023-08-03 11:15:23 +0000 UTCCount projections remain as before, the pull back yesterday was more than expected but unless you produced a positive beat on earnings yesterday, the vast majority of all stocks were in the red.
The 10 year, the Fitch downgrade, Trump indicted again, the market in Wave 4....all played a big part in yesterdays sell off.
I did add on the pull back yesterday after dropping 5% because this structure is still in place, I am counting it as an impulse wave, I see a lot of value under $100 and most importantly and it is the same on the $NIO chart, we can see that the 50 Day MA will likely cross the 200 Day MA very shortly, confirming the upward trend.
I also like how Chinese stocks can be a hedge against a Wave 4 sell off on the US market, will the 10 year is high.
Contingency plan if we get more downside:
The 200 Day MA is at $89, I believe if the price pulls back this low, then it will find support here, which is above our blue line. I am not anticipating this, but the market is volatile right now.
