Elliott Wave 5.0 "Reboot"

Tuesday, March 1, 2016

HDGE Bearish Crash Review

I had mentioned that HDGE could retrace its entire bullish phase, and think it is still going to do this this year. I am sure HDGE peaked out close to the 11th matching all the other turnings of stocks as well. This is the type of synchronization I like to see as HDGE works great as an inverse indicator for the general stock market. 

The blast upward to the 11th was a "C" wave bullish phase, which was part of an expanded flat. If this is still true then HDGE should make one more new record low.  The target price level would be below $10.25. It would still take a few months or so if the pace it is traveling at remains.  Any additional sideways movements would add more time to the overall decline. 

I will remain bearish on the HDGE  until we can see a major bottom approaching. This would represent another great bullish opportunity, which I am sure my friend Andy will take advantage of when the time is right.