Patience, anticipation and plan A and Plan B is the safest way to trade this market. Understanding how people THINK is key to positioning your trades accordingly. How does one learn how traders think? Follow Sentiment-Time and Patterns! The 2942 short entry was taken because we saw a series of extreme bullish sentiment readings and the spx was trading within a bearish wedge with massive bearish divergences. That was our clue that a drop was pending as the "Herd" listened to the media outlets pounding the table that we are heading higher-much higher and you must get in now. Don't get me wrong, there we plenty of head fakes down, but when you take a short position, one must go in expecting to get stopped out a few times, as the bulls never leave the party until they are forced out. Our stops were always very tight-less than 1/2% and as frustrating as it was, the upside was very dangerous and on borrowed time. I will continue this in the comments section below-so you can ask questions. 100 SPX points or money back--ending soon, very soon-especially if I decide to trade the right shoulder!
That was a great call--when is the kill zone? and is that special in the link? I want in
mypicks123
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Thank you for the update. I personally thought the inverted head and shoulders pattern you were showing was a pipe dream. Not now.
sentimenttiming
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If I am going to wrong here with the pattern, the pain trade will be to the upside, meaning we do not make a right shoulder and just squeeze every last bear out of this market-of course, right when we head into the "Kill Zone" That is why when I can make a road map for either up or down, you stay neutral! The bulls that got washed out at the lows, will not become excited again until we take out 2900, where most likely they will do what they are trained to do-follow the "herd" and cover all shorts with losses and go long. It is a cycle that repeats month in and month out. You just have to know what to look for and have stops in place once you make a trade. I believe the 100 point guarantee we have on the table will be reached in a very quick manner, just like the 130 point drop from the highs. Stay tuned and if you want to know when-where we are taking a position, join ;) You have nothing to lose and 100 spx points to gain--look in the video report link below for more information.
Franchez7
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That's a great deal!!
sentimenttiming
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Once we got the drop, the "Herd" that was looking up only and buying the dips on the way down, capitulated at the exact lows-as they always do and the extreme bullish sentiment went to extreme bearish sentiment 1%. Time: The "Kill Zone" is not here yet, but approaching quickly! Knowing that as well as the 1% bullish sentiment reading gave us the reason to cover shorts at target 1 which was 2810. Holding 1/3 with a stop in place in case the move lower went viral, our view on the direction was neutral. Now getting into the heads of traders-everybody who capitulated at the lows, what is going through their heads? Where could I short since I missed this last move down. The majority was looking for the same thing-which means, they will be used as the fuel for a massive short covering rally. The pattern I showed Tuesday was an inverted head/shoulders pattern, which is playing out exactly as scripted. If it is going to continue to form, we should see a quick dip to form right shoulder before we head higher into the "Kill Zone" Guess where sentiment will be? Exactly, extreme bullish readings as everybody piles into the train that is leaving the station-but about to head off a cliff.