I am counting this uptick as Sub-Minuette4 of Minuette3. Now that the market has broken the 30-minute M/A the final hurdle is the 60-minute M/A -1.65%. Currently 1067. The Minuette1 low on the 16th was 1066.60 SP futures. So breaking this would also break the hourly M/A. Support at this level should be enough to keep the Sub-Minuette4 ball aloft at least overnight. If not then the market is in a big hurry to be lower.
I'm slowing down, not trying to guess the low, not trading but holding with a stop above 1106.
thanks for the update, Steve. I like your counting, trying to learn from you.
ReplyDeleteStaying with this trade looks like the right way to play it. We'll see what opex brings. Good luck!