I agree that the SP will get to about 845, but not yet.
In the short term Wave (1) will take us down to about 1000-1040 (by end Sep or mid Oct), then up a bit for wave (2), then down to that range (800-850) for wave (3).
And therein lies the scary stuff! If wave (3) finishes there, where will (5) go to? Also, remember (as Red has said many times) that this will be wave (3) of 3, so it’s going to be a pretty ugly and emotional time for everybody.
I am glad you brought that up Red, that has been on my mind for the last week. Lets all remind each other at that time not to be greedy. That is why I will be cashing out at a third at a time with my shorts on the sp index and my puts
Yes, the FP was 119.06 spy, or about 1190.60 spx.
Yes, we are there now. I’ll be closing my shorts at the open and going long.
Wasn’t the fake print supposed to be 1190 on the SPX?
GOLD Range breakout: http://niftychartsandpatterns.blogspot.com/2011/09/gold-in-range.html
Wow, SPX fell pretty sharp there.
ES Hour chart: http://niftychartsandpatterns.blogspot.com/2011/09/s-500-futures-hour-chart-analysis.html
I guess we are in that territory of SPY via the SPX huh? Wasn’t it 1990 on the SPX?
I agree that the SP will get to about 845, but not yet.
In the short term Wave (1) will take us down to about 1000-1040 (by end Sep or mid Oct), then up a bit for wave (2), then down to that range (800-850) for wave (3).
And therein lies the scary stuff! If wave (3) finishes there, where will (5) go to? Also, remember (as Red has said many times) that this will be wave (3) of 3, so it’s going to be a pretty ugly and emotional time for everybody.
I am glad you brought that up Red, that has been on my mind for the last week. Lets all remind each other at that time not to be greedy. That is why I will be cashing out at a third at a time with my shorts on the sp index and my puts
Could always be Hollandse. Just pronounce every “s” sound with an “sh” and blend right in.