From the 2103 high to the 2070 low yesterday you have 33 points for what looks like an A wave down. Then the B wave up around the FOMC time period. Now if we are in C down then 1.618 of 33 points equals 53 points. So the B wave high of 2096 minus 53 points puts the C wave low at 2043 SPX
From high to low today on the SPXS for 8/19/2015) you have a .67 cent range (18.31-17.64), and on the SPX that day you went from 2096.17 to 2070.53 (doesn’t include the gap down points), which is a 25.64 point range on it.
Dividing 25.64 by .67 cents and you get a rough multiplier of 38.2685
The range on the FP shows a low of 18.39 to a high of 20.83, or 2.44 points. If you multiple that times 38.2685 you get a 93.37 point move on the SPX.
They need 2085 SPX area (give or take a few points) by the close on Friday to save the weekly trendline of support since the 2011 low. If you do that by the close tomorrow then you leave the bears thinking the low is in and we are off to the races again for the bulls. Then next Monday you stage another False Flag event like 9/11 was and blame the crash on it. No bears will be in the market and bulls will be fully loaded on the train to hell.
Would like to see TVIX close at 6.66 today.
From the 2103 high to the 2070 low yesterday you have 33 points for what looks like an A wave down. Then the B wave up around the FOMC time period. Now if we are in C down then 1.618 of 33 points equals 53 points. So the B wave high of 2096 minus 53 points puts the C wave low at 2043 SPX
If we drop again Friday I’d look again for a morning low and a squeeze into early Monday, then down later.
Looking bad for sure..
1min SPY bar at 9:46am PST high print @ 206.10.
ES Futures Update (bear flag and no bounce yet): http://screencast.com/t/MG5bFUpj5ABN
There’s a very high amount of puts at the 207 strike price for next week’s option expiration: http://screencast.com/t/G4kGlOoM
From high to low today on the SPXS for 8/19/2015) you have a .67 cent range (18.31-17.64), and on the SPX that day you went from 2096.17 to 2070.53 (doesn’t include the gap down points), which is a 25.64 point range on it.
Dividing 25.64 by .67 cents and you get a rough multiplier of 38.2685
The range on the FP shows a low of 18.39 to a high of 20.83, or 2.44 points. If you multiple that times 38.2685 you get a 93.37 point move on the SPX.
New FP on the SPXS: http://screencast.com/t/hE78tI0U6
They need 2085 SPX area (give or take a few points) by the close on Friday to save the weekly trendline of support since the 2011 low. If you do that by the close tomorrow then you leave the bears thinking the low is in and we are off to the races again for the bulls. Then next Monday you stage another False Flag event like 9/11 was and blame the crash on it. No bears will be in the market and bulls will be fully loaded on the train to hell.