Probably at or near Dow top for short entry
Wave model projected 25076 on Dow got to 25070. Divergence in indices suggests flight to quality - dumping tech to buy blue chips, nervous toppy behavior.
Can go higher but is due for a pullback and possibly a substantial drawdown. Wave C could carry to 23800 or lower.
Could get a shooting star Tues to confirm topping. Other indexes already moving lower and global markets showing weakness. Reactionary wave B is ending- soon.
Shorts placed and puts purchased at or above this price level are probably about lowest risk you can hope for in this game of high stakes risky business.
Good luck!
PS An SPX trader has observed that over past 3 months wave highs occurred at New Moon; Wave lows follow 2 weeks later at Full Moon- neat! Let's see if it holds...
Can go higher but is due for a pullback and possibly a substantial drawdown. Wave C could carry to 23800 or lower.
Could get a shooting star Tues to confirm topping. Other indexes already moving lower and global markets showing weakness. Reactionary wave B is ending- soon.
Shorts placed and puts purchased at or above this price level are probably about lowest risk you can hope for in this game of high stakes risky business.
Good luck!
PS An SPX trader has observed that over past 3 months wave highs occurred at New Moon; Wave lows follow 2 weeks later at Full Moon- neat! Let's see if it holds...
Trade active:
a .618 Fibo retracement = 25237; .786 = 25394, look for reversal pattern confirmation
