turns out the bazooka triggers at the 7th impulse factor (and 3 on the way down). We like fibonacci.
Comment
⋅
Few ways to move from here. I'm betting on UP since we had a bazooka shot fired...
Plus, this weekend people will be a bit more calm... 2 weeks of a weekend?
Comment
⋅
Found the C&H - target ~2800. From there we can expect some leakage upwards... maybe even hitting the ABCD diamond trendline (I've shifted those as I don't think we continue the large drop to 2000 so quickly... moved the megaphone to the 0.5 of the impulse intersects.
Comment
⋅
Trade active
⋅
Reversion initiated to red-line as overall regression intersects.
Let's see which arc we follow, which will spell the next interpretation of events.
Comment
⋅
Here we see futures testing an mvwap / regression cluster.
Comment
⋅
Regard the 3-sigma band on the lower-bound arc. Also note the mvwap suppoer after the reversal candle pattern.
Comment
⋅
Halted...
Comment
⋅
Comment
⋅
Finite regression lock
Comment
⋅
Comment
⋅
For the idea to occur (below) we need to maintain the FVE level @ bottom until 5-factor of bottom-to-3400 is reached. This assumes the arc of the SPX slows around 2000.
Comment
⋅
I'm also not sure about that gartley anymore.
Comment
⋅
Check out this channel.
Comment
⋅
Comment
⋅
Have continued studying - regression SMA about to cross, tick pushes through - downward wedge with volume puncture gives us promise. Added to longs around 2375 to average in.
Comment
⋅
FINALLY! We've reached our destination.
Now we take in the view.
Comment
⋅
Comment
⋅
Comment
⋅
Comment
⋅
Still looks like we're on track. Now we see a sign of weakness... it really looks like crap but that's what a bear trap is. At any rate, volatility is here.
I'm doing very well. Thank you.
I day trade in size, so I take whatever the market gives me, and i get out
I do not like "size " risk, and never want to hold position overnight, if I can help it.
You're a great analyst I'm much more short term in nature
The outside risk ahead of us is If they were to announce a potential vaccine cure
then there could possibly be the mother of all mother upside" melt up's for the ages
Short trading is extremely risky, and one must be aware of the risks.
jacobit
⋅
@The_Unwind the fib-circles are STILL bang-on... but this gives us a bit more concrete near-term insight.
Yes. It was a perfect short.
I was fortunate to have had a very good sized short position near the exact high of the day at SPX 3120
I covered it after it moved back above 3113
jacobit
⋅
@The_Unwind, August 18-21 (options exp week) I am predicting the S&P will be anywhere from 1800-2000. Looks like SPY puts are a buy with EXP third week August. That's reflected in the volume-element convergence (those arcs go back a LOOONG way)
jacobit
⋅
@The_Unwind, This is stillll running! Imagine if these targets were bang-on... that would be stellar :)