Reasons for short:
1. Fib confluence from the primary cycle and Intermediate cycle
2. Intermediate cycle completed 5 waves, needs ABC correction; Primary cycle completed 3 waves, needs 4th wave retracement.
4. Too much deviation from 20 MA
7. Top of the channel
6. spikes at the top
7. 2 Inside Bars
Signal for short:
Watch for the break of blue TL.
or Use rules.
Expecting 183 by May 12. It still has room to 204 as long as TL doesn't break. If the market pumps it to 204, we will get an opportunity to buy puts for cheap.