Evening Update: We're in the Target Box for "a"
We're coming into the bottoming zone I forecasted. As price finishes its minor wave 5 of c of larger a, we could get down to as low as the 3799 -3810 area.
www.tradingview.com/...icro-ES-EU-12-19-22/
Price should bottom soon, in which I expect a rally back to as high as the 4044 level. This could be a nice tradeable rally for at least 120 to as much as 200 points. In the area of 3795 I may strike an opposing short -25 puts trade Dec EOM which will not use any additional buying power. Let's see how the ES closes and the overnights.
Again, we have the red count out there...if we get under 3760 then this starts to become a higher probability...so going long and shorting puts should be done when a bottom is confirmed.
Best to all,
www.tradingview.com/...icro-ES-EU-12-19-22/
Price should bottom soon, in which I expect a rally back to as high as the 4044 level. This could be a nice tradeable rally for at least 120 to as much as 200 points. In the area of 3795 I may strike an opposing short -25 puts trade Dec EOM which will not use any additional buying power. Let's see how the ES closes and the overnights.
Again, we have the red count out there...if we get under 3760 then this starts to become a higher probability...so going long and shorting puts should be done when a bottom is confirmed.
Best to all,
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