SPY H&S in ABC Correction EW 4: To Retest 24 Dec Low

Chart says all. updated prior post with corrected line positions given interval price changes. C wave length and duration mimics A wave. The H&S pattern appears to be an extension of the correction but note it is also a pennant , or continuation pattern. The trend: still down, entering a fifth intermediate of primary third wave. expect double bottom to retest 233 low. From there it should give a V-notched spike formation and a more powerful rally- perhaps near-vertical back up to or over 260-264. Get ready for fireworks! More to come. GLTA, HNY!

As always, for education and amusement not investment advice, trade at your own risk!
Trade active: Here we go again... bright red futures - tar 226 give or take a bit, see the blue box.
Trade active: Closed gap, turned back at resistance, retested 12/31 closing price twice more- bearish!
Trade active: Another EOD runup driven by FOMO? After hours a different story: Bad Apple!
Trade active: My hammer pounded that chart down- sell the rallies, trade the trend!
Order cancelled: Looks like greed got the upper hand over fear, sorry folks! GLTA, stopped out.
Love all the fib work!!
@LucyF2492, Ty been fooled but looks like it could pivot at 0.62. Right at 2560 Sand P now.
LucyF2492 DaddySawbucks
@DaddySawbucks, Yep, ive got it between 2576 and 2716. Its def going to reject
Here's another fun fact from the talking heads; "The unemployment rate rose to 3.9% from a 49-year low of 3.7%, largely because more people entered the workforce in search of jobs. "

Err, did you say that because more of us are out of work, that unemployment is higher?! ROFLMAO!
ROFLMAO at media fake news feeds; when Apple was $225 they said "It's a great buy!" NOW that it went off $80 they say; "You shoulda sold it when we told it!"


Do not take your guidance from the talking heads! Idiots all.
That HnS Fakeout! They are really playing with the beras.. tough game to be in right now!
DaddySawbucks MrMarketMaker
@MrMarketMaker, Heh, it went up to fill the gap as we knew it would. Now the hammerfall...
MrMarketMaker DaddySawbucks
@DaddySawbucks, not sure I agree. I'm thinking 253 by EOD / 258 by EOW. I'll re-evaluate positions there.
DaddySawbucks MrMarketMaker
@MrMarketMaker, Seems less likely now, eh? Who knew... Bad Apple!
hungry_hippo DaddySawbucks
@DaddySawbucks, really tough market to trade.... I expected that end of day pump, sold most of my puts before the pump. Congrats to anyone who had the balls to hold their puts....

Maybe I should start buying puts at the very end of the day, lol.
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