Will sell SSO at DJI 10,015 or SPX 1070.5 whichever comes first.
There are 3 reasons that I am buying:
I1 is advancing with an amplitude of 1.5 through 6/21.
My belief that wave 1 down ended 5/25. If I am right then we have only minimally satisfied the corrective requirements. The main reason that I hold to this count in the first place is the timing of I1.
The technical composite which is oversold, on a buy signal although not a bell-ringer. In a normal market this would be resolved by time and a rally.
I am treating this as a short-term trading opportunity only. I have a longer-term I1 sell signal that is a serious impediment to a hard-charging rally.
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