Evening Update: My Last Weekday Post

Today was a fairly predictable day if you traded my morning update chart. On the morning update post I posted my activity for a scalp. I'm short -3 ES at 4207 for a scalp anticipating price getting down to 4150-4160 area. We can get down into the 4120 area without invalidating anything but if this is going to continue to extend we should not get down that low. Now that we are not overlapping in 3-way moves it appears price is hitting standard fib areas for this c wave advance. Therefore I have no reason to believe we will not decline into the 4150-4160 area and make another high (at the very least) Remember we do not get our first sign we have topped until we breach 4048.50 and confirmation comes ONLY with a breach of 3901.75.

Best to all,

Important:
Due to the update in my profile section I will no longer be posting my Morning, Evening, Special and Trade Alert posts. Please reference that for more information. I will be posting a Weekend Update.

Comment:

I have no reason to believe we’re not going to be rallying in a wave 5.