Wednesday, June 19, 2024

ES Morning Update September 11th 2018

Yesterday I talked about the morning open being some kind of wave 1 up from the Friday low and that it should backtest the upper trendline in the falling channel... which it did early on, and bounced, but since then has rolled back down lower again. That's the reason I wasn't chasing the "potential" wave 3 up as I was unsure of the wave account and didn't like the overall negative vibe for the month of September. Then there was the early Sunday morning FP on the SPY that I didn't mention in yesterdays update but shows a low of 286.45 around 4 am EST, which just might be the downside target low before any rally starts. Of course that changes the wave count as it's lower then Friday's low, so I'll just re-guess at a new count when it appears.

As far as the 2/27/2018 upside FP on the SPY, it's not looking go to be hit right now. The all time could be in? However, I'll give this another week to see if the bulls can get something going or not. But by the early to mid next week they need to rally or else I think it will be too late as the September pullback, correction, or crash will probably be in the starting down waves already. For today though I'll keep it simple... look for that 286.45 FP to be hit on the SPY as your downside target where a turn back up should happen. From there I'll decide if I want to risk a long or just wait for a short. Good Luck.

P.S. It's sad to think that an estimated 20,000 people were murdered by the Bush family 17 years ago when they took down the twin towers and other buildings with explosives as well as flew a missile into the Pentagon all just to steal the assets of another country and spread fear here in America so they could get their "New World Order" of massive freedom violations, privacy invasion, accepted scanning and chipping of people, and who knows what else... off to a great start. People now have to remove their shoes at airports for NO REASON just because the powers that be continue to suppress freedom by the people and want us all as their slaves. May the entire Bush family find a nice warm fire in hell where they all are going to one day. And let's have their friends in the Rockefeller, Rothschilds, Morgan, Soro's, and so many other evil families join them for a fire side picnic.

Author: Red

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