US 30 BEARISH BAT INSIDE BULLISH BUTTERFLY!

The 1.618 resonance with AB = CD is compelling. This is extremely Bearish. Expect a big selloff imminent.

Larger picture is inside a Bullish Butterfly formation; IF this completes and plays out as projected; the termination of Bat's Wing will be a terrific Buy Opp IMO.

This isn't advice; trade at your own risk! GLTA!

Trade active:

Added to position, price action is terribly weak, every rally up struggles and gets beat down fiercely. In SQQQ, TECS as well as puts on QQQ/SPY/DIA/IWM; all Nov contracts, in or ATM.

IMO throwover is imminent.

Comment:

Chinese already welched on the deal and the ink ain't even dry yet- predictable.

Trade active:

Pump 'n dump on futurz Tues AM. Fundamentally nothing changed. Holding position; rotating bear spreads to roll the short legs, taking profit from shortz on weeklies.

Entry and add opportunity IMO.

Comment:

Dont forget still have gap to fill from Friday 11 Oct...

Comment:

Increased positions in QQQ + IWM. Holding 40 puts on each still ITM; holding 30 each on SPY/DIA. Rolled up my short OTM puts to Oct expiration, sold another $6k worth of short weeklies. Still get decent premiums for these near expiration contracts. If sudden downturn, roll em back down and out. It's the Dance of Puts!

IMO looking at TL today's modest rally taps the declining TL of lower highs from past week. If it breaks 3k again, then time to think about stop loss, watch and wait.

Trade closed manually:

Seems like bullish undertone persists. Advancers > Decliners; breadth firms up; IMO this beast wants to retest the ATH. Useless to hold shorts while it does this; but too risky to bet that it will. Sidelined again; stop lossed. Look for blowoff rally to re-enter. R/R poor again until we get a clear signal IMO.