btwice53190

$SPY - Wave 1 top likely in

AMEX:SPY   SPDR S&P 500 ETF TRUST
318 views
7
Guys - It is still possible we go back to ATH's again - then I would change count at that point and we likely get our wave 1 peak somewhere in next 2 weeks.

BUT the more I look at the count the more I favor that wave 1 peak is already in. I do think we rally tomorrow and maybe Friday - but we will flush again. I see the 100 extension area as a great dip buy (460) especially for a swing on some weeklies. Then we could still go lower and if we get lucky enough to go all the way down to 450 area BTD with all the dry powder you have.... Kidding - or am i?

We all know the market likes to throw curve balls and do what it wants though, so more then likely I will put up a new count either tomorrow or Thurs going into Friday.. Stay nimble and watch for the signs (indicators and flow) during RTH to make the best trade decisions you can.