Social Media Strategy ($SOCL) – updated

08/14/2016 – as discussed below, we did appear to carve out a wave IV and the 15-16 level did hold.  now we have a set of targets appearing for the $SOCL media index.

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08/29/2014: social media is REAL, it makes a DIFFERENCE and it is developing business models that are changing the landscape.  I believe in this space …however, all that being said – I believe in PATTERNS more!  🙂  So, throughout 2014 I have been watching the $SOCL mutual fund. (please see: http://money.usnews.com/funds/etfs/small-cap-funds/global-x-social-media-index-fund/socl for more detailed information.  It’s not equally weighted but it does encompass a nice landscape of the social media space players.  As you can see from the charts below a well defined 5 waves up led to the correction into the middle of the year.  From there we have bounced nicely right into the zone of 20-21 which “should” offer resistance and another move down.  Here’s the rub … the 1,2,3,4,5 was excellent and warned, nicely, of a coming correction.  Please see this chart:

NOTE - going to call the last high a 3 and see this move ongoing taking out a new high
NOTE – going to call the last high a 3 and see this move ongoing taking out a new high

see the change …. ?  You know what … I’m going to start the count a little early and note that the recent high was 3 so, w/ the rampant bullishness of the equity market and that it can’t even correct 5 % I’m going to put a “new count” out there to make it go up to make a new high.  So, if we can get an intraday pattern to BUY why not give it a change.  will be watching …


 


 

04/28/2014: expect 14-15 to maybe be support but the 5 wave sequence is complete and I consider this space done for a while …My last post on SOCL is below.  Missed it by a buck:

Social Media …

Main20140428213726

main20140104112612 main20140104112002

Social Media and the Anatomy of a pattern …

folks, have been working Social Media (SOCL) here: http://bartscharts.com/2014/08/29/social-media-strategy-socl/

here’s an update to the Social Media landscape and the SELL pattern present.

IF looking to sell, the levels are defined.

IF we blow thru the PATTERN to the upside then we have some running UP to go …

follow the logic in the bottom right to see how the pattern is created.

thanks for reading and let me know if you have any questions.

SOCL sell pattern and how it's formed
SOCL sell pattern and how it’s formed

Social Media Strategy ($SOCL)

08/29/2014: social media is REAL, it makes a DIFFERENCE and it is developing business models that are changing the landscape.  I believe in this space …however, all that being said – I believe in PATTERNS more!  🙂  So, throughout 2014 I have been watching the $SOCL mutual fund. (please see: http://money.usnews.com/funds/etfs/small-cap-funds/global-x-social-media-index-fund/socl for more detailed information.  It’s not equally weighted but it does encompass a nice landscape of the social media space players.  As you can see from the charts below a well defined 5 waves up led to the correction into the middle of the year.  From there we have bounced nicely right into the zone of 20-21 which “should” offer resistance and another move down.  Here’s the rub … the 1,2,3,4,5 was excellent and warned, nicely, of a coming correction.  Please see this chart:

NOTE - going to call the last high a 3 and see this move ongoing taking out a new high
NOTE – going to call the last high a 3 and see this move ongoing taking out a new high

see the change …. ?  You know what … I’m going to start the count a little early and note that the recent high was 3 so, w/ the rampant bullishness of the equity market and that it can’t even correct 5 % I’m going to put a “new count” out there to make it go up to make a new high.  So, if we can get an intraday pattern to BUY why not give it a change.  will be watching …


 


 

04/28/2014: expect 14-15 to maybe be support but the 5 wave sequence is complete and I consider this space done for a while …My last post on SOCL is below.  Missed it by a buck:

Social Media …

Main20140428213726

main20140104112612 main20140104112002

Social Media …

so, Social Media has changed the landscape of interaction on a personal, business, family, relationship and “you name it” level….frankly, I love it.  that being said, it’s finishing a PATTERN and it’s time to step aside.  Now, just because $SOCM has finished an 8/8 octave move and a 5 wave count doesn’t mean that it’s done for good.  I just think it’s done for now …the 5 wave sequence might very well be 1 of 5 more to come.  Just believe it’s RISKY to be getting in here/now. either way, here’s the patterns.  Also,, note the volume increase at the end of the octave move and a “Ray Charles” count …

SOCL MONTHLY
SOCL MONTHLY
SOCL 5 wave count complete.  NOTE volume
SOCL 5 wave count complete. NOTE volume