First short was put on 201.20 .....last week
Market after snap back on Fri could easily test old highs
2nd short at 201.8 if the market reaches this on Mon am
Close stop at 202.2
My last post stated this......... first short at 199.5, I placed my second at 200.3, and covered the position at 200.05 for a basic breakeven. I anticipate the market hitting 201 on Tuesday am, where I will again put out my first short. My profit objective is 197.5.....where I would reverse the position
At 12:15 tomorrow, give or take, the high should be achieved, SPY will have touched 200.....we will go back to 197.50 which will be the the new floor of support.....Iam calling a short term top starting tomorrow late morning
This rally, if equal distance with the May 17th rally, takes you to SPY 200,....( green lines) which is also the outer boundary of the pitchfork. The subsequent reaction being of equal distance ( aqua line), will trace back to the inner pitch fork....This 2nd wave will also end at a 38 fib retracement, the 3rd wave will follow the Gann speed line...this is for...
The color lines are of equal length.......each major move, as we are currently experiencing, can only expend so much energy, until it must pause, before it can continue......using the mid May rally as a reference, this takes us right to SPY200....the white line is the minor correction to be expected
This rally which I thought was a dead cat, is actually the beginning of a new fractal. The arrows show the short and the quick cover of the trade. We will quickly get to highs.....consolidate and then go higher.......get ready for the blow off top and Dow 18,000
As the market is a fractal, many times a lesser fractal degree, gives you structure of the larger degree. The initial break shown by the lite area, resembles the larger fractal to this point. The arrows reflects where we are currently positioned. This dead cat rally will fail, with the pending selloff being of equal distance, shown by the white vertical lines. ...
The market is forming a bottom, which is the last chance to buy before we explode upside. I expect the low on the full moon..which is the 29th.....this corresponds with the last low which was on the new moon...and the cycle that this move is on...( blue line)...... the price point is 185 SPY ...which has fib support
The market is short term overbought, will correct to 185, by Tuesday open....and then continue to old highs..stop is at 184.50. I am an ex floor market maker,
