DaddySawbucks
Short

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

AMEX:SPY   SPDR S&P500 ETF TRUST S&P 500 ETF USD DIS
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!!
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@LucyF2492, Ty been fooled but looks like it could pivot at 0.62. Right at 2560 Sand P now.
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LucyF2492 DaddySawbucks
@DaddySawbucks, Yep, ive got it between 2576 and 2716. Its def going to reject
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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!

https://www.marketwatch.com/story/us-adds-312000-jobs-in-december-unemployment-rises-to-39-2019-01-04
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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!"

Morons: https://www.marketwatch.com/story/apple-investors-get-burned-for-holding-on-too-long-2019-01-03

Do not take your guidance from the talking heads! Idiots all.
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That HnS Fakeout! They are really playing with the beras.. tough game to be in right now!
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DaddySawbucks MrMarketMaker
@MrMarketMaker, Heh, it went up to fill the gap as we knew it would. Now the hammerfall...
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MrMarketMaker DaddySawbucks
@DaddySawbucks, not sure I agree. I'm thinking 253 by EOD / 258 by EOW. I'll re-evaluate positions there.
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DaddySawbucks MrMarketMaker
@MrMarketMaker, Seems less likely now, eh? Who knew... Bad Apple!
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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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