fosheezy2890

fosheezy2890

It has been a while since I posted a count. Here I what it looks to be a wave 5 of a wave 5. I do believe this entire wave 5 (yellow) is a wave 1 of the higher degree. That means we should be pushing towards 490-500 sometime in March or so. Invalidation is below the red line :) Good luck traders and stay green

fosheezy2890

With yesterdays move invalidating that fact that wave 2 up could have been done. Now we have the remaining portion of wave C of wave 2 IMO. I have confluence with red/white trend lines (EW trend line red). Wave 4 came down like I was anticipating. Now we need to see some kind of 5 wave structure up. Keep in mind, wave 5 can be a ending diagonal. Good Luck Traders!

fosheezy2890

Looks like we invalidated the most direct version of wave 2 -> wave 3 of a wave C. True invalidation rests around 4310 or origin of the minor wave 1. This could also be a 3 wave structure of A,B,C - (W,X,Y) of a higher degree wave 2 or 4 (monthly chart) I think we will see a pullback soon and a final push higher to complete this upward move. I will update as...

fosheezy2890

SPY: So far what we are seeing playing out is one of two counts. I'll post if this one looks like it doesn't fit the structure. Currently building wave 2 higher degree, and finishing up. As far as fib relationships, the 100% and 127.2% is where i would am looking to see weakness start to build in relation to economic data and ER's. We'll see. SPY...

fosheezy2890

Currently i'm running this as my count until invalidated at 379.46, then i will go with alt count 1 which this is wave 4. Invalidation of wave 4 is 389 then i have a different count for a different probability of pattern. Looks like we are about to start wave C up. I would like to see how Monday goes, have a feeling more down then reversal starts in. Looking...

fosheezy2890

Here is the second count. We finished wave 4 with this impulse wave up and now working on higher degree wave 5. Tomorrow/monday will provide a better indication for structure. basically we down tomorrow 10.7.22 then up monday 10.10.22 which will be potential wave 2 is my thesis. I will be able to determine structure better in a couple trading sessions. We...

fosheezy2890

I have ultimately 3 counts. The third count is higher degree's being A,B,C. However, looking for this 5 wave structure of wave C to invalidate before i switch. So here is count 1 for this 5 wave down of C. This one shows we made our 5 wave structure up, building wave B currently before we move towards wave C. Invalidation is 388 where higher degree wave 1...

fosheezy2890

SPY UPDATE - Alt count this is just if we are extended wave 5. 3-3-3-3-3 making sure to cover my bases you know. Good luck traders.

fosheezy2890

SPY UPDATE - main count i said i would update if i saw a potential move towards that wave 4. Well here it is. I will post 2 counts, i see both being applicable until invalidated. Keep an eye out for that pullback, pull those fib retracement up to gauge the pullback if you are not in calls. take the pullback up. targets 375, 377, 380 Good luck traders.

fosheezy2890

Hello Traders! Here is an update on SPY. I believe this higher degree wave 3 is coming to a conclusion this week sometime. For 10/3 Monday, i would like to see a move towards 363/364 then rolling over into a final wave 5 taking us to a post triangle thrust maybe to 354 all the way down to 349 potentially. Those are my key area's i'm watching. Then we can...

fosheezy2890

Update: From previous chart posted earlier today we did get that 389 range, i measured the wave 2 and the 23.6 was at 389.18 and looks like we got it plus some change before taking the nose dive into wave 3 of wave 3. lets see if we get up next the 100% at 369.41 this week maybe early next. Good luck traders!!! P.S. we will get some mild reversals up, however,...

fosheezy2890

So far this wave 2 isn't very impressive. Looks like consolidation before FOMC. Playing it safe for now and will see what happens in a few hours for FOMC. Good luck traders!!!

fosheezy2890

SPY update: Sheesh, what a week huh. With today building this base who knows if Monday we gap down or gap up. Quad Witching and OPEX making today interesting. Looks like a reversal Island being built so thinking we do a gap up Monday into A of Wave 2. I'm am fully aware we might gap down too though i'm just going to play it like this until proven otherwise...

fosheezy2890

Just another update. I think we may have finally finished wave 1 down today. hit 61.8 extension of W3. Validation is break above todays high of 396.xx. We should see W 2 come along soon. Personally scalping the moves intraday and will be adding to my put war chest. >.< Good Luck Traders!!

fosheezy2890

Just a quick update. Hope you all got those puts ooof. CPI came in hot. Looking to see if we get a quick relief bounce up to around 400. Area's i'm looking at on SPY: Up: 394.53, 396.60, 399.50, 401.75, 403.53 Down: 391.35, 389.14, 388, 385, 380 Good luck Traders!! P.S. if you are mainly a swing trader, i would utilize this opportunity to wait for this...

fosheezy2890

Currently we claimed the high levels of what should be A wave. Confirmation of completion is break below 404.50 support. Maybe we get this pullback towards CPI then bounce back up for wave C. I'll be watching if we start break below 400 towards 398 and 395 if we get that on Tuesday. So far move looks like overall wave 2 with a move down incoming. Hold on for...

fosheezy2890

With todays move and how futures is behaving resting at 4031, looks like we have a potential gap up tomorrow. Will have a clearer idea however, if we break over wave 4's 401.50 level then we are confirmed that wave 5 truncated short and we are building wave A of wave 2/B. The current structure looks like impulsive and i can count 5 waves up so we can anticipate...

fosheezy2890

This is what I'm thinking. We have one of two situations. 1. We are still in wave 5 down and are in wave 2 about to make wave 3. Invalidation is wave 4 - 401.53 2. Wave 5 finished early (Truncated) and we are moving towards A,B,C. Thursday will be a very important day to see structure. Ultimately, for wave 5 down we will need to continue downward and break...