Red

yesterday's action was to fill gap, downtrend remain, Red.

Yeah, I'm in the wrong vehicle for maximum gain (or loss).

I did pick up some TZA shares and puts today for a little more oomph.

Will have to go with SPXU for the bear market in July. 🙂

I thought you held on to your shorts.

i am a very happy camper. But it is the lightest short position I have had in some time. Glad I did not go long.

sds is the 2x ultra short, spx I believe is just s&p spxu is 3x ultra of s&P

That is an interesting stat on trading range for past 10 days.

I didn't label it Dread. But yeah… that would be insane to go back up to 1140 by Friday. I think we will fall back in the channel and put in another low, but there are both bullish and bearish counts at this point.

That chart … it would be completely insane if that happens by Friday like the chart suggests.

IWM ($RUT) was green for the day. Don't be fooled by the late day bearishness! I think it was an ABC wave 4. Wave 5 should get 1195+, and activate the IHS.

DTO put in a red candle, as expected.

Carl at day’s end:

1065-1095 estimate for today (30 points)
1063.25–1089.50 actual range today (26.25 points )
Market was 1-5 points below Carl’s range.
For the past 10 days, average actual range is 26.8 points

Trades: No Trades
Grade: C (lost no money)

In the past 10 trading days, Carl has taken just one trade, a loss of 7.25 points.

Thank g-d this day is over! Despite my short positions, I only eeked out $75 🙂 VIX kills.

My SDS has an inverted H&S, too (if you count pre-market). It ran up on very high volume. Hmmm, which is correct, SPX or SDS?