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SPX: I miscalculated the wave 3 target. The 3=1.618 is actually at 3,332.
Currently still in wave iii of 3 up.
The C=A target is at 3,525. The current ‘five’ count doesn’t look comfortable up to that area, but there’s no other obvious target.
NYA: I had 12,731 as a possible target for wave (iii) of iii.
It got beyond that yesterday which makes the pattern questionable. It might extend further.
So for the moment the NYA count remains bullish but the pattern cannot be determined.
Thanks David.
Trying to pick a top for me this time round has been impossible.
My closest short is yesterday’s 3210.4 which I kept the 20 point limits on. Sadly it did not hit just now and nor did I take it off manually for 18 points.
I have now cancelled the limits as today’s action may mean we have topped or atleast began a process to top.
RTH is when the upgrind SU starts so we will need to watch what happens there.
I just cant believe the dipsters would stop buying and if they do it shows how crooked the upmove was.
For now nothing to do apart from watch the action unfold.
How anyone could have predicted today, I have no idea. As always it came all of a sudden and out of the blue.
Also Friday was a +70 ES day and yesterday a +40 again. Anyone shorting yesterday, who got stopped out last week, would have been blown out too. It has then fallen in night time globex hours, so no one could put their shorts back on when they woke back up. If it stays down here, when the yanks wake up, they will be in for a shock and hopefully that can propel the selling.
Plan your trade, trade your plan!
why did dax crash ?
The bull that took it to 12930 during the USA session got tapped.
if it goes below 12k tomorrow i will go long to hedge my short
wishful thinking
Still short the Ftse from 6500 and relaxed.
Closed at 6360
That’s the 40pts I lost on my last Ftse trade
plus 100pts for me 🙂Never give up, never surrender.
“Today was the third straight day with over 6bn shares traded on the Nasdaq, all of which would have been higher than any day in history .. To put that in perspective, from 2009 until 2020, there wasn’t even one day with 5bn shares.”
above quote was from yesterday so if the FOMO traders are buying with both hands who is selling ?
Call buying at all times high could this be on of the rare occasions that triple witch is low. i remember this happening before during a bull run.
Obviously the fear is that they just buy this straight back up.
Good luck all, RTH has begun.
Plan your trade, trade your plan!
Your right Stathis, There has been Quad OE’s that have been down, but they are rare.
What we did get was a false move into the week before and then mad up into Quad OE.
Quad OE is next Friday, so maybe we can spend a few days down this week and then up into quad oe.
I just cannot see how they can sell this off with so much aggressive dip buying last few weeks. This is a gift to the dip buyers.
On that note, reluctantly I am closing yesterdays short from 3210.4 at 3098.6 for 12 points.
I will ofcourse put it back on if it rallies back up, if not I have underwaters that should start to come back in.
Plan your trade, trade your plan!
This sums up my above post.
If the dipsters were alive up till now, then they have a gift.
Monster move up, gap fill is at 3227.50, only 10 points away now.
I will add a short there, but I am scared of even doing that 🙁
Plan your trade, trade your plan!
Unless this is the rally where shorters are too scared and wait for higher prices, which never come.
Best to stay alert and stay safe
Plan your trade, trade your plan!
twitter.com/stoolpresidente/status/1270084893691842566
I am beginning to hate the term history repeats.
If you had bought falling stocks in 2000-2002, you would be dead. They went bankrupt.
Here all the junk has gone up too. Most have tripled! After all Warren Buffett is a damn clever man, but he sold out of all Airlines at the low!
Plan your trade, trade your plan!
and the propaganda machine to get more investors at the top continues.
For me Warren Buffett is the biggest inside trader ever existed in a fair world
should be in prison.
What ever he invested was through contact knowing the future, remember him buying banks in the financial crises when he knew they would get bail out.
This time either they left him out of the loop or it was a sideshow.
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