I'm not following the sub waves Anna, but I could see a pop back up into the close today, as the 15 minute chart is oversold and should go back positive within an hour or so.
On top of that, it's putting in a bull flag. So a move up into the close is likely (shake out the last bear)
I think the 112.41 print is the top for major wave 2 up. But, are we done with major wave 1 down now? If so, the the 1220 high to 1010 low is major wave 1, and major wave 2 should end at 112.41… but what if wave 1 down isn't done yet?
If it's not, then the 1070 print has now be fulfilled and the next move is down to put in another lower low. If tomorrow closes flat like today, then that will leave everyone guessing over the weekend.
Some emailed me, or I seen it somewhere (can't remember?) that 97% of all the traders with an account size of 1 million or more, are now net long. Either they will all be richly rewarded next week, or robbed blind… you tell me?
I'd like to see the sell off start tomorrow, but they will probably wait until Monday to tank it (should this be the high?). They like to release bad news over the weekend and trap everyone.
It's been a long time since we had a really be down day on Friday, so we might have to wait until next week.
LOL… I'll post it when we start to head down. That way you will know when to get out. For know, let's just say that all those short will be happily rewarded.
Red, normally I just lurk on your site to see what everyone has to say, but teasing us with a scary fake print? That's just mean…Spill the beans already!!! Pretty please with sugar on top?
The next FP to the upside that I have is for 112.41 spy, and I got it a week or two ago. If you feel brave enough to say long until then you've got a bigger pair then me. LOL.
I have one to the downside that I got last weekend, but I'm not posting it yet (I will when the time is right). It will blow your mind.
You see that we hit the FP from yesterday at 106.20, and again at 1070.50 (from a few weeks back), so do you want to wait for the 112.41 print, or bail and sit in cash?
If we put in another doji tomorrow, then that could be bullish consolidation forming before another move higher next week… but I think the downside print will play out first… and it's scary!
I came close to getting stopped out of my remaining longs twice this am. depending on what happens after 3PM I may bail. the indecision is not good for long trades IMO.
I'm not following the sub waves Anna, but I could see a pop back up into the close today, as the 15 minute chart is oversold and should go back positive within an hour or so.
On top of that, it's putting in a bull flag. So a move up into the close is likely (shake out the last bear)
sounds like a classical music piece!
Dan I don't know about you but we are in wave 3 minutte 2 hopefully about to end
I think the 112.41 print is the top for major wave 2 up. But, are we done with major wave 1 down now? If so, the the 1220 high to 1010 low is major wave 1, and major wave 2 should end at 112.41… but what if wave 1 down isn't done yet?
If it's not, then the 1070 print has now be fulfilled and the next move is down to put in another lower low. If tomorrow closes flat like today, then that will leave everyone guessing over the weekend.
Some emailed me, or I seen it somewhere (can't remember?) that 97% of all the traders with an account size of 1 million or more, are now net long. Either they will all be richly rewarded next week, or robbed blind… you tell me?
I'd like to see the sell off start tomorrow, but they will probably wait until Monday to tank it (should this be the high?). They like to release bad news over the weekend and trap everyone.
It's been a long time since we had a really be down day on Friday, so we might have to wait until next week.
I am substantially in cash and will probably not wait for a 112 level.
this is a technical bounce only and who knows when it finally fails.
It did hit 1070 and came off quick. Is another attempt in the cards????
Vixes are not supporting that move at present.
LOL… I'll post it when we start to head down. That way you will know when to get out. For know, let's just say that all those short will be happily rewarded.
Red, normally I just lurk on your site to see what everyone has to say, but teasing us with a scary fake print? That's just mean…Spill the beans already!!! Pretty please with sugar on top?
Well Jim,
The next FP to the upside that I have is for 112.41 spy, and I got it a week or two ago. If you feel brave enough to say long until then you've got a bigger pair then me. LOL.
I have one to the downside that I got last weekend, but I'm not posting it yet (I will when the time is right). It will blow your mind.
You see that we hit the FP from yesterday at 106.20, and again at 1070.50 (from a few weeks back), so do you want to wait for the 112.41 print, or bail and sit in cash?
If we put in another doji tomorrow, then that could be bullish consolidation forming before another move higher next week… but I think the downside print will play out first… and it's scary!
Cash is position my friend. Be safe first.
I came close to getting stopped out of my remaining longs twice this am. depending on what happens after 3PM I may bail. the indecision is not good for long trades IMO.
But I still will hold off adding shorts.
Yeah Jim,
Nobody is expecting much to happen today… which makes you wonder about tomorrow?