bageltokki
Short

SPX Wave 4 playout

FX:SPX500   S&P 500 Index
278 2 5
SPX             currently in wave 4 from brexit lows.

2171~2172 region coincides with 50% fib of latest drop and will provide a fib extenion of 100% to 2148 region. 2148 region coincides with A-B-C down pattern from ATHs as well as a 38% Fib from wave 3 after brexit.

Shorting 2171 for 2147 and going long for final wave 5 up to 2270s.
Comment: grabbed Sept 02 SPY 217 puts...
woulda gotten in at 2171 but my broker decided to fail miserably, ended up buying in at 2169.5. -.-
Comment: 20 EMA still holding as resistance

hourly hidden bearish divergence on stoch, higher high on stoch, lower high on SPY.

change of plans, will unload some at 2147, but won't grab a long until picture is clearer.
Comment: closed 1/2 my puts to protect some profits. SEPT 02 217 PUTS in at 0.65 out at 1.15.

coulda gotten out at 1.45 but was in meetings...

holding other 1/2 till end of day to see where we go from here, this bounce might be a slight pullback before moving lower towards 2147/2148
Thanks for the great chart. Can you please email a link to me when you next make a post. I would like to follow.
best regards jw.labs@gmail.com
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hey there, you can just follow me on trading view if u want to see my new ideas, but I'm still starting out so I wouldn't trust my charts too much...
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