The rally is a 5-wave up which causes a change in the wave count for futures but not for cash. In futures the low was move up to Tuesday, 8/31 and the rally completes the c wave.
For the cash markets the Minute 2 top was over the weekend and the rally completes an abc expanded flat.
Steve,
ReplyDeleteI think if you just stick to your forecast of to and bottom, you can make a lot more money as oppose to shorting during your forecast when it calls for a top.
I shorted SP futures at 1102.75, covered at 1102. I bought 4% SDS 32.06, sold at 31.85. I have a trading rule with I1 in Intro and Concepts that allows to carry a tiny position longer-term if I1 does not exceed 3.25. So, I bought back SDS at 31.47 and showing a profit. I've researched I1 and I can miss a big move if I1 peaks under 3.25. I'm trading with the rule set and with discipline. That's all we can ask of ourselves.
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