Elliot Waves And GME, The Return Of The Uptrend 🚀
==================================================

| Author       | Source       | 
| :-------------: |:-------------:|
|  [u/possibly6](https://www.reddit.com/user/possibly6/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/o61rkw/elliot_waves_and_gme_the_return_of_the_uptrend/) | 

---

[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)

Sup Apes

Not financial advice. Seriously. Do NOT listen to me, I am most definitely not a financial advisor. Just an ape who want 🍌

Bump this shit now. not a request: <https://www.youtube.com/watch?v=X2LTL8KgKv8>

This is gonna be a pretty short post, just giving a brief overview of what I expect/would like to see tomorrow.

Please remember this is a PREDICTION and in no way a guarantee, I take crayons from restaurants and draw on my computer screen.

I know y'all are JACKED after today, and so am I. I'm so jacked that I'm getting high and drunk as we speak (mothafuckin cheers you glorious degenerate bastards, porsche or food stamps )

[CHEEERS](https://preview.redd.it/zce14troow671.png?width=1068&format=png&auto=webp&s=532917c08d25cce427f678f4edbf1971bc16916c)

Okay so everyone knows the ATM offering is complete. AND everyone knows what happened last time it was complete. Yesterday we finally touched the .618 level that I outlined in this post (see final edit) <https://www.reddit.com/r/Superstonk/comments/nwyj77/elliot_waves_and_gme_why_im_jacked_to_infinity/>

"holy fuck, just another reason why you shouldn't listen to me, im so retarded (I was probably high in all honesty) when I wrote this and i looked at my fibs as 213 being the 61.8 level to watch... but i am retarded... the proper level is 201... so keep a strong eye on that for a bounce: <https://imgur.com/dmywYOA> (okay now im acc leaving, the TA wasn't sitting right with me so i took a closer look, and voila... user error smh. Sorry for confusion, I'm just an ape (look CLOSELY at how the retracemnt is drawn, from the low on 3/24 to the high on 6/8... these are the PROPER ratios to reference, Irdk how I missed that yesterday"

So we hit that yesterday and bounced at 197. The levels don't need to be hit perfectly by any means, but when the level IS hit, we have greater confirmation that the move is complete. Remember wave 2 typically targets at least 50% retracement of 1, though often times it hits the .618 level, or the .786 level.

What's important is the LOW IS IN MOTHAFUCKAS (so it seems, i'd love more cheapies), AND we had a seemingly definitive wave 1 on a smaller scale complete. Identifying a wave 1 is often times the hardest part of EW, but the trick is to look for the end of a downtrend. It is imperative that the wave 2 does not cross below the low of wave 1, or the move is invalidated.

Here's a view of what I see:

[4hr](https://preview.redd.it/zhkj5o01qw671.png?width=2830&format=png&auto=webp&s=27f75c344d208b35483ab071a5d17bde5e61d1b0)

My brain is playing tricks on me as I'm writing this, there are a few possible counts when looking intraday but I'm just gonna lay out the one that makes the most sense to me:

[30m](https://preview.redd.it/rxzx4kc4sw671.png?width=2790&format=png&auto=webp&s=ca0fd31c5cd05f794ad36a9099dc0954864df1ac)

So my thinking in this analysis is that the move after the morning dip to a high of 225.8 as a 1 and not the pre market move on news of the ATM offering being complete. The ALT count would be the move in pre market is the (i), but this doesn't really change much, just alters targets by a few points.

So assuming the move to 225.8 was a (i), remember were looking for at least a 50% correction of said move as validation of a (ii). Low and behold, price crossed below the 50% level (white line), so the move is valid thus far.

Do note, the .618 level was not hit, so I'm not ruling that possibility out just yet. Assuming our low of the day at 209.3 was our (ii), that puts the next (smaller timeframe) upside targets at 238.18 (1:1 extension of (i) ), remember (iii) can't be the shortest. thus, a minimum extension of 1:1 of (i) is expected, though typically 1.618:1.

The 1.618 level comes out to 256, which ironically is the exact same as the 38.2% retracement level of our cycle wave 1 (run from 113 to 344). This is why I'm more inclined to go with this wave count. Fib is nature, when targets overlap I'm more convinced my count is correct.

The drop to 197 yesterday does not change the overarching 3 within a 3 within a 3 setup at all, all it does is lowers original cycle 3 targets by the respective difference of the previous extension drawings (so like $9 or so). This put minimum CYCLE 3 target at 423 (This overlaps the bigger wave 3 initial target, see below and look at the 100% level, yellow)

[target (say it like tarzyay)](https://preview.redd.it/jteqhb9ouw671.png?width=2824&format=png&auto=webp&s=4860b784c2e9608d8cee3c23b996fa5d4fd7d587)

okay maybe i shouldn't have gotten drunk for this i'm really losing my train of thought lol, bear with me almost done

in short, the move thus far is valid unless we break below 197, which idk about you, but I don't see that happening any time soon, if ever. Within this current wave subset, the highest we should go (assuming we dont see a hyperextension to 1160, personally I think moves of that scale will come a bit later, but I could be very wrong) is around 565 before a bit of retracement action.

However, if you saw my recent post going over the (seemingly) correlation between eyyyy emm see, when that ticker did its thang, it actually hit the 1.618 level of its JANUARY run up. using that same philosophy with GME, that puts GME at...

get ready for it...

are you ready...?

no you're not.

862.16

We shall see.

I don't really care about the intraday action. Just look for higher highs/lows relative to 197 and were looking good.

Will re evaluate when I must, but it's reallllly hard not to be jacked.

Before I sign off, here's the 1.618 target of the january move... enjoy:

[GME](https://preview.redd.it/uzfrfragww671.png?width=2824&format=png&auto=webp&s=e48ad6f5acdb725dfd8e1e9272c99372155d7805)

Will show you eyy emm see too just so you can see this shit really did happen, and I have reason to believe it will replicate on GME:

[movie stonk](https://preview.redd.it/i3nu7mokww671.png?width=2802&format=png&auto=webp&s=018a2d4522b4d0c6938d7cb53a650cb91568dad5)

TLDR: I CAN FEEL IT COMING 🚀also not saying 862 happens tomorrow lol, soon enough 😈

edit: interestingly enough, if we use fib time extensions, .5 level comes to 6/28 (drawing from GME's lowest low ever to the high of january. this doesn't really mean anything but It's interesting how it all ties into outside factors going on... this doesn't mean we squeeze 6/28 lol. Just something interesting)

edit 2: probably nothing but noticed a tiny $.50 gap around the 200 level, worth noting. Its minuscule and doesn't show up on a daily chart, only hourly but you have to squint to see it. This is normal in stocks

Edit: I'm going insane so I dug deeper . I'll probably make a new dd tonight or tomorrow morning 🥴
