DaddySawbucks
Short

SPX H&S Intraday implies more Volatility

SP:SPX   S&P 500 Index
109 5 4
Looks very beary
Great job!
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Very well done thus far.
Keep posting, and we'll see how far down the ship will go.

THE_UNWIND
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@The_Unwind, I expect a full 5 wave corrective impulse; today we successfully traded Down Wave 1 for a 30% gain in Sep ITM DIA + Sand P put options. Might retrace half today's loss before turning south again for Down Wave 3. Or Monday could be another gap down, extending first wave. I'll post pivots as I see them, good luck!

Option traders must be nimble and quick, watch signals and pivots; short sellers might hold on thru the up waves, which will emerge at least twice during correction.

Options Caution: Don't buy OTM puts, especially first thing after opening bell!! LOL @ the spreads- I sold into the open and the puts traded that price or less all day.

Thanks for the kind words in support!

PS: Option players beware trying to run calls on the up countertrends, they snap off so fast- whipsaw in bull traps. Enjoy ur wknd!
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The_Unwind DaddySawbucks
@DaddySawbucks,

I use Direxion's 3 X Bear ETF SPXS for all my short trades on the S+P They also have 3 X Long ETF SPXL.
I chart these at various intervals but my favorite is the 120 Min or 2 Hour Open.
Finally, I do not trade futures or options although I have in the past. My risk tolerance is not suited to these types of investments.

Your charts, and anaylsis are some of the best Ive seen, you continue to impress me, and I agree with your current evaluation of the SPX.

Thank you,


THE_UNWIND
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@The_Unwind, LOL yes options are wild I'm swinging large positions too from 50 -100 contracts so I have to be exactly spot on timing and direction, or i get killed pdq.

Fascinating I've not traded leveraged ETFs, found the link for any others interested, this looks slightly less chancy than option trading, thanks for the tip!

http://www.direxioninvestments.com/products/direxion-daily-sp-500-bull-3x-etf?keyword=s%26p%20etf%20leveraged%203x&gclid=EAIaIQobChMIoqTgiYTk3AIVlo3ICh2GPw9dEAAYASAAEgKJhvD_BwE

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