I will short 2% SDS in ARCA if SP futures hit 1127. I count wave (v) of C of 2 complete at the 1130 SP futures high. The yuan story is a perfect cover for a top.
Hello Steve, been trying to get my head around the forward wave count in relation to I1, and curious regarding your projections. In summary, minor Wave 1 from late-April to June 8, minor Wave 2 from June 8 to June 21 (TBD)?, and Wave 3 from June 21 to July 5 (TBD)? Wave 4 starting July 6-mid August? My question is typically Wave 3 are the longest and most "damaging" leg, so is it possible for this to be only 2 weeks long? Interested in your thoughts. Thanks.
DJD, I think the support at the Feb/May lows will stop the initial decline into 7/5. Then the market will "buy" time until the August high, either with a sharp rally ending below today's high or even a triangle. However, I'll expect the high anytime after 8/1. I'll post the expectations in more detail tonight. Thanks for the post.
Hello Steve, been trying to get my head around the forward wave count in relation to I1, and curious regarding your projections. In summary, minor Wave 1 from late-April to June 8, minor Wave 2 from June 8 to June 21 (TBD)?, and Wave 3 from June 21 to July 5 (TBD)? Wave 4 starting July 6-mid August? My question is typically Wave 3 are the longest and most "damaging" leg, so is it possible for this to be only 2 weeks long? Interested in your thoughts. Thanks.
ReplyDeleteDJD,
ReplyDeleteI think the support at the Feb/May lows will stop the initial decline into 7/5. Then the market will "buy" time until the August high, either with a sharp rally ending below today's high or even a triangle. However, I'll expect the high anytime after 8/1. I'll post the expectations in more detail tonight.
Thanks for the post.