Demark Setup Perfection Sell with Wave 1 Recovery

SPY and QQQ have generated Demark Setup Perfection Sell signals on the daily charts . After a bit of a capitulative blow off higher we then turned down for three consecutive days as part of Wave 1 of the 5 waves down.

We've since bounced and retraced 50% of the move (as of this writing) and can get up to 61.8% level before turning lower.

Coincidentally we are going into AAPL earnings this evening and the rest of FANG has had some issues thus far, it leads me to think wave 3 down (the most violent wave) will be triggered by missed earnings .

We are currently short with our initial short entry, and looking to add to our position here another small chunk, as SPY and QQQ continue to prove us right or get stopped out and look for the next swing trade.

Short 1/4 at 280

Adding 1/4 position around 282 level then will sit on the short to see if it plays out as Wave 3.

Due to the low volume time of year I'm not taking larger positions than 50% of my full typical allotment


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out