Red

User banner image
User avatar
  • Red

User Comments

... Red Dragon Leo

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

... Red Dragon Leo

If we drop again Friday I’d look again for a morning low and a squeeze into early Monday, then down later.

... Red Dragon Leo

There’s a very high amount of puts at the 207 strike price for next week’s option expiration: http://screencast.com/t/G4kGlOoM

... Red Dragon Leo

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.

... Red Dragon Leo

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.