I am going to feel very reluctant to go long over the next few days. I am going to be focusing on the short side. I am going to start layering the shorts over the next few days.
There are so many of us looking for approximately the same thing, that its probably something fairly different. It very well might be a one two one two down, and and we are still in the one wave. In which case, the market is going to plunge HUGE, after this rallying wave is done.
Lets face it, they brought in a Black President to FAIL MISERABLY. So they gotta pull the plug soon enough.
Nothing to do here but sit on my hands. Very overbought on all short term charts, but the extremely light volume will keep it from selling off. At this point it’s best to wait for a pullback and then go long for a few days.
Be sure to let me know what your “top” is… and yeah, this isn’t likely a wave 4 anymore. I think major wave 1 down is finished… meaning that 5th wave down we’ve been looking for ended short with a double bottom.
This could be a one 2, one 2 down, before a THREE of the ONE wave down. OR: This could be a wave three UP in a new super wave BULL.
I don’t buy that this is a wave four any more. I suppose it could be a wave ii up. Any ways, I bet I get the top,but I am not quite feeling a top right now. I will consult the calibrator this afternoon.
The next question, is the sp 500 going to touch the 1208 level and back off or slice thru that level up to the 1220 level today. My money is we go thru that 1208 level today.
I am going to feel very reluctant to go long over the next few days. I am going to be focusing on the short side. I am going to start layering the shorts over the next few days.
There are so many of us looking for approximately the same thing, that its probably something fairly different. It very well might be a one two one two down, and and we are still in the one wave. In which case, the market is going to plunge HUGE, after this rallying wave is done.
Lets face it, they brought in a Black President to FAIL MISERABLY. So they gotta pull the plug soon enough.
Nothing to do here but sit on my hands. Very overbought on all short term charts, but the extremely light volume will keep it from selling off. At this point it’s best to wait for a pullback and then go long for a few days.
sold my longs from 1195 at sp futures 1204.7
SPY Chart: http://niftychartsandpatterns.blogspot.com/2011/08/spy-resistance-level.html
Well let us know Washboardsstocks when you get the signal. As for now I am going to stay the course here with my longs
Be sure to let me know what your “top” is… and yeah, this isn’t likely a wave 4 anymore. I think major wave 1 down is finished… meaning that 5th wave down we’ve been looking for ended short with a double bottom.
This could be a one 2, one 2 down, before a THREE of the ONE wave down. OR: This could be a wave three UP in a new super wave BULL.
I don’t buy that this is a wave four any more. I suppose it could be a wave ii up. Any ways, I bet I get the top,but I am not quite feeling a top right now. I will consult the calibrator this afternoon.
Maybe? Or we could back off a little today into the close and gap over it tomorrow. That’s what I’m expecting to happen.
The next question, is the sp 500 going to touch the 1208 level and back off or slice thru that level up to the 1220 level today. My money is we go thru that 1208 level today.