Yesterday - See chart for an update on yesterday's trading. Everything followed the model. Quick spring in the morning followed by an solid day.
Today - Looking like a good gap up this morning for a strong push in "intermediate" wave 1 of the FINAL "primary" wave 5. This is the same pattern for the start of all of the "intermediate" motive waves, so that is a great sign.
IMHO - Today would be your last "safe" opportunity to buy in, but please note the potential limited upside. If the model holds (which fits every wave up to this point), then there is a big drop coming and you should be ready to sell when we get close to the top.
You think we hit ATH before massive selloff in mid July?
Also what expiration would you suggest the puts be at in case this takes longer to occur.
Dr_Roboto
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@dangerzone24, I think it will just barely make a new ATH. On April 29th it just barely broke the 0.618 fib line before pulling back. Alternatively, the current ATH may just be a mental barrier that it won't cross, but come right up to. That being said, the NDQ broke right through its ATH with no real fan fair. Could have a large FOMO spike (1-2%) above the current ATH to act as an inverse spring right before the drop.
I can't really help you with the put expiration. I don't trade using puts/calls. What I can tell you is that the exact drop amount and the timing of the bottom are hard to gauge at this point. My analysis just gives me approximate ranges in time and price. I have to constantly update it every day or so to fine tune it. Also, remember the peaks in the waves are just approximations and the top and bottoms typically last 2-4 days.
Also what expiration would you suggest the puts be at in case this takes longer to occur.