We are witnessing the Larger 1/5 correction within the "C" Leg.
The Extensions reside @ 4426 and 4190.
Retracements should be limited to the 8/13 EMAs with the
21 EMA now acting as Support unit it does not.
"C" moved are generally quick and outsized.
There will be a Larger Retracrement when 2/5 begins, not
until.
The FED has increased the probability of a 25 BPS Hike from
100% - to 86.1% Probability of a 25-50 BPS Hike.
________________________________________________________
The Transports confirmed the Dow Theory Sell Signal as I indicated
this would cause the DOW to correct.
Value Line Index gave us the warning the ES would see a sharp decline
to follow.
NQ has been seeing outsized selling in 711s.
TNX should tap or exceed 2%, perhaps 2.12% prior to a Retracement.
TLT should trade the 139s and possibly the 134s.
For time the "bottom" should not be until Mid- MArch when the FED
backs down from 50 BPS to 25 BOS and becomes less hawkish and far
more verbose as to concerns for the Overall "Economic Health" - this will
be the time to take the BUYs and ride them for a violent run ti new all time
Highs.
__________________________________________________________
********** 2B/5 should be 1B/5 and 3C/5 should be 1C/5, apologies, it's been a long day.*************
By then, the ES should have filled its Gao at 4010.
It is Day by Day for now, with further updates to follow.
Trade SAfe everyone - HK
The Extensions reside @ 4426 and 4190.
Retracements should be limited to the 8/13 EMAs with the
21 EMA now acting as Support unit it does not.
"C" moved are generally quick and outsized.
There will be a Larger Retracrement when 2/5 begins, not
until.
The FED has increased the probability of a 25 BPS Hike from
100% - to 86.1% Probability of a 25-50 BPS Hike.
________________________________________________________
The Transports confirmed the Dow Theory Sell Signal as I indicated
this would cause the DOW to correct.
Value Line Index gave us the warning the ES would see a sharp decline
to follow.
NQ has been seeing outsized selling in 711s.
TNX should tap or exceed 2%, perhaps 2.12% prior to a Retracement.
TLT should trade the 139s and possibly the 134s.
For time the "bottom" should not be until Mid- MArch when the FED
backs down from 50 BPS to 25 BOS and becomes less hawkish and far
more verbose as to concerns for the Overall "Economic Health" - this will
be the time to take the BUYs and ride them for a violent run ti new all time
Highs.
__________________________________________________________
********** 2B/5 should be 1B/5 and 3C/5 should be 1C/5, apologies, it's been a long day.*************
By then, the ES should have filled its Gao at 4010.
It is Day by Day for now, with further updates to follow.
Trade SAfe everyone - HK