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On the morning of April 7, 2026, this is what I posted for MPTrader members about my interpretation of the near-term technical setup exhibited by META:My preferred technical scenario for META argues that the stock established a significant near-term low at 520.00 on 3/27/26 that resides within an August 2025 to March 2026, incomplete larger corrective process.
Over the last year, I followed the monthly machinations of Coinbase’s stock prices (COIN), from its long-term top in the $400s, to the 70% dive into the mid $100s. I have held out COIN as having great long-term investing potential, while expecting to see COIN investors experience much pain in the short to intermediate term. My goal is to help COIN investors avoid getting over their skis while they safely accumulate through a bear market. This bear market may bring the most resilient among us to severe frustration. It is not likely to be anywhere near completion.
As I outlined over the weekend, we would have needed to begin breaking support early this week in impulsive fashion in order to suggest a (b) wave top was in place. But, that is not what we have seen.Rather, the decline in the futures really seems to be a 3-wave event which can be counted in two ways. To be honest, I really like the yellow count on the 15-minute ES chart. That suggests that the overnight low was an a-wave of wave 4, this rally is a b-wave of wave 4, and a c-wave decline is yet to be seen.
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