warrenbudget

H&S... Decision time for major indexes

AMEX:SPY   SPDR S&P 500 ETF TRUST
Break above neckline means we will continue to 269-270. Break under major support (back from Dec 24), means we have finished the A wave and are headed towards PT1:258, PT2: 253, PT3: 248. Lots of negative news today with Trump/Pelosi, so I like to think we have finished the A wave. However, semi conductors have propped the market up nicely today. Eliot wave analysis fits well with the 5 count being complete even tho we fell short of the fib level at 270. I am going short about 75% into my position since I know I will be up even if we hit 270 now. Finishing off my position upon validation of the trend.

Comments

Futures appear to have broke out to the upside. If this doesn't wick down, we will quickly go up to the 269-270 target and take a dump. The dump will be blamed on the govt on Monday. Will trump issue a natl emergency this weekend? I dont have a crystal ball, but it looks like we are going up.
Reply
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